"Petroleum", "natural gas", "oil", and "barrel of oil" defined
Sec. 5. (a) As used in this chapter, "petroleum" means all
hydrocarbons produced at a well in a liquid or gaseous state.
(b) As used in this chapter, "natural gas" means petroleum that
maintains a gaseous state at atmospheric conditions.
(c) As used in this chapter, "oil" means petroleum that maintains
a liquid state at atmospheric conditions.
(d) As used in this chapter, "barrel of oil" means forty-two (42)
U.S. gallons of oil at sixty degrees Fahrenheit (60° F).
(Formerly: Acts 1947, c.278, s.5.) As amended by P.L.109-1988,
SEC.9.
Last modified: May 28, 2006