Residual Oil

The words POOL, PERSON, OWNER, PRODUCER, OIL, GAS, WASTE, CORRELATIVE RIGHTS and COMMON SOURCE OF SUPPLY are defined by the Act, and said definitions are hereby adopted in these Rules and Regulations. From C.R.S. 34-60-103 (2012): “Oil” means crude petroleum oil and any other hydrocarbons, regardless of gravities, which are produced at the well in liquid form by ordinary production methods, and which are not the result of condensation of gas before or after it leaves the reservoir.

Source: Natural Resources, Office of Conservation – General Operations, Louisiana Administrative Code, Title 43, Part XIX, March 2013. Regulations


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