A bill to exempt crude oil produced from deep stripper wells from price and allocation regulations under the Emergency Petroleum Allocation Act of 1973.

Summary

Amends the Emergency Petroleum Allocation Act of 1973 to allow the first sale of deep stripper well crude oil to be exempt from price regulation under such Act. Requires a well to be producing at the maximum feasible rate throughout a 12-month period in order to qualify for such exemption. Directs that deep stripper well crude oil which is high water-cut crude oil shall be treated as if each barrel limitation were one barrel higher for each full percentage point by which the water cut exceeds 90 percent.

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Timeline

1. 12 March 1979

   Introduced

   Referred to House Committee on Interstate and Foreign Commerce.

   Source: IntroReferral

2. 12 March 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 March 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 12 March 1979

  Open at official source

Sponsors

• Sen. Gramm, Phil [R-TX] · D · Sponsor
• · hsif00 · Standing

Related records

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