This is a form dealing with the Over-Production and Under-Production of Gas, the event Assignor's gas production, if any, from the Assigned Property is in excess of or less than Assignor's interest in the Property, then Assignee shall acquire Assignor's interest subject to that over-production or under-production.
Oregon Over-Production and Under-Production of Gas
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Multi-State
Control #:
US-OG-502
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Word;
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How to fill out Over-Production And Under-Production Of Gas?
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FAQ
The state's lack of crude oil production means all of its gas needs to be imported, and that's a much more expensive endeavor than in other states that are geographically closer to the Gulf Coast.
Here's where we get into the issue of Oregon's high gas prices. The state's lack of crude oil production means all of its gas needs to be imported, and that's a much more expensive endeavor than in other states that are geographically closer to the Gulf Coast.
Hydroelectric power makes up the largest portion of Oregon's electricity resource mix, followed by coal and natural gas. With our Renewable Portfolio Standard, half of Oregon's electricity will come from renewable resources by 2040.
Oregon receives more than 90% of the refined petroleum products it uses from the Puget Sound refineries in Washington. Those petroleum products, most of which are transportation fuels, arrive by way of the Olympic Pipeline and by barge at Portland-area terminals.
Natural gas supplies enter Oregon by way of interstate pipelines, primarily from western Canada through Washington and from domestically produced natural gas that arrives through Nevada and Idaho. Almost all of the natural gas that enters Oregon continues on to California markets.
Earlier this year, Eugene became the first city in Oregon to effectively ban natural gas appliances in new residential construction.
The retail price of gas depends on four factors: the cost of crude oil, refining costs and profits, distribution and marketing costs and profits, and taxes, ing to the US Energy Information Administration (EIA). Of these, the price of crude oil is the single biggest contributor to the retail price of gasoline.
In addition, this region is located relatively far from parts of the country where oil drilling, production and refining occurs, so transportation costs are higher. And environmental programs in this region add to the cost of production, storage and distribution.
