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action actual amount approximately areas barrels billion boundaries California capacity carbon cent City common completed consideration construction consumed consumption cooperation cost crude oil crude petroleum cubic feet daily definite delivered depleted determine diameter direct distribution domestic demand drilling economic effect efficiency engineering escape estimates extended fact factors Federal Oil Conservation fields fixed flow foreign fuel future gasoline greater ground handling importance improved included increase industry interest involved land less manufacture material methods natural gas natural unit natural-gas nearly needs oil and gas Oil Conservation Board oil pool operation output overproduction owners petroleum pipe line pipe-line possession possible present pressure production protected purchase quantities reached recent recovery reduce refined refined products refineries relation reserves result sands Secretary served stocks storage supply surface Texas Texas Panhandle tion underground unit waste welding
Page 16 - ... of the lessor, lessee, or operator of any land containing oil or gas, or both, whether before or after the removal of gasoline from the gas, Is opposed to the public interest and Is unlawful. The blowing, release, or escape of gas into the air shall be prima facie evidence of unreasonable waste.
Page 22 - Laws 1908, chap. 429, which, as construed by the state courts, forbid him from pumping or otherwise artificially drawing, by means of wells on his property, unnatural quantities of such waters from the common source of supply, and wasting them to the injury or impairment of the rights of other proprietors.
Page 22 - should involve some recognition of correlated obligations, so that in the drawing of oil and gas by one owner from the common reservoir the producer should be required to recognize the right of the neighbor to so much of the oil as is withdrawn from underneath his property, less a reasonable allowance for the cost of production, the hazard of the undertaking, and a reasonable profit on tire undertaking.
Page 17 - ... in known fields. (2) Continued exploration for new fields. (3) Systematic research and experiment upon methods of securing a larger proportion of the oil from the sands. (4) Systematic research and experiment in new methods and cheapened costs in refining and cracking oils and waste elimination. (5) Cooperative methods in sane development of new fields to prevent wasteful flush flow and overproduction.
Page 17 - It is evident that the present methods of capturing our oil deposits is wasteful to an alarming degree in that it becomes impossible to conserve oil in the ground under our present leasing and royalty practices if a neighboring owner or lessee desires to gain possession of his deposits.
Page 24 - Self-regulation in the handling of an oil pool means both efficiency in development and operation and the determination of equities among the owners, and this can best be accomplished by unit operation. By this plan only can each and every owner secure full economic benefits. By this plan only can the public be assured of the largest possible supply of oil and gas from a particular field, won from the ground at lowest cost, and over a period measured by market demand rather than fixed by individualistic...
Page 23 - That both public and private interest need to be protected from present methods is forcibly shown by the recent record of two wells in California which have already turned into the pipe lines nearly $5,000,000 worth of oil and gas but from which gas and gasoline vapor worth more than $10,000,000 have gone up into the air — a total loss to present and future citizens of that State.
Page 18 - The natural unit in oil deposits is the single pool, large or small, and unit operation is in essence nothing more or less than accepting nature's decree and seeking to work in harmony with it. Unit operation...
Page 22 - Making the engaging in pumping mineral waters from wells bored or drilled into the rock for the purpose of collecting and vending as a separate commodity the carbonic acid gas contained therein prima facie evidence of the common underground source of supply and of injury to other proprietors, as is done by NY Laws 1908, chaj>.
Page 8 - ... crude oil will cause a radical advance in the prices of the refinery products the public buys. It matters not whether the oil reserves of the United States are five times a billion barrels or twenty times a billion barrels, the supply is limited and can not be increased. Even the most generous estimates place the date at which our oil reserves will be practically depleted, under present rates of consumption, in the comparatively near future.