Oil and gas definition

Oil and gas means petroleum, natural gas and other related hydrocarbons or minerals or any of them and all other substances produced or extracted in association therewith.
Oil and gas means oil, gas, casinghead gas, gas condensate, and all other liquid or gaseous hydrocarbons and other marketable substances produced therewith, unless an intent to limit the inclusiveness of this term is specifically stated.
Oil and gas means oil and gas subject to severance tax under 1929 PA 48, MCL 205.301 to 205.317.

Examples of Oil and gas in a sentence

  • Oil and gas volumes are considered produced once they have been measured through meters at custody transfer or sales transaction points at the outlet valve on the field storage tank.

  • Oil and gas leasehold interests and oil and gas mineral fee interests, including working interests, overriding royalty interests, net profits interests, carried interests, and similar rights and interests.

  • Oil and gas exploration, development and production activities, in these emerging markets, are subject to significant uncertainties which may adversely affect the Company’s operations.

  • Oil and gas properties/intangible assets are depreciated/amortized using the unit-of-production method.

  • Oil and gas companies must recognize more assets and liabilities, derived mostly from rental of construction equipment and offices.


More Definitions of Oil and gas

Oil and gas means oil or gas or both.
Oil and gas means crude oil and natural gas;
Oil and gas means "oil" and "gas" as defined by 2 Section 85.001.
Oil and gas means oil and gas as such in combination one with the other and also means oil, gas, casinghead gas, casinghead gasoline, gas distillate, or other hydrocarbons, or any combination or combinations of these substances, which may be found in or produced from a common source of supply of oil, gas, oil and gas, or gas distillate.
Oil and gas means oil or gas or both. "Oil and gas" refers not only to oil and gas in combination with each other but also generally to oil, gas, casinghead gas, casinghead gasoline, gas-distillate or other hydrocarbons, or any combination or combinations thereof, which may be found in or produced from a common source or supply of oil, oil and gas, or gas-distillate.
Oil and gas means oil and gas, CBM, CMM, and other liquid or gaseous hydrocarbons, including condensate and other substances produced therewith.
Oil and gas means oil, gas, casinghead gas, condensate, and hydrocarbons or any one or more of them.