Title 52 - Oil & Gas Code

§52-602. Legislative intent.


The Legislature recognizes that hydrocarbons are a limited natural resource and that their exploration, production and development contribute significantly to the general welfare of the people of the State of Oklahoma through the creation of jobs, the development of economic growth and stability, and the collection of gross production taxes, petroleum excise taxes, and other sources of revenue.

Therefore, the Legislature finds it is in the public interest to protect its energy resource assets from transfers that may retard the timely and efficient development of such assets, or transfers that may interfere with the production, sale, purchase, refining or processing, delivery, transportation or transmission of hydrocarbons or hydrocarbon products gathered or produced for sale, purchase, refining or processing, delivery, transport, transmission or use pursuant to existing contracts within this state. The Legislature further finds it is in the public interest to encourage orderly future exploration, development, production, refining, processing, transportation, or transmission of hydrocarbons and hydrocarbon products gathered or produced within the state, to conserve and prevent waste of energy resource assets, to protect correlative rights in underground mineral resources, and to protect and preserve sources of tax revenue derived from the orderly and efficient development, management and production of the state's energy resource assets.

Added by Laws 1985, c. 2, § 2, emerg. eff. Feb. 13, 1985.