TeachMeFinance.com - explain Operator, oil and-or gas well
Operator, oil and-or gas well The term 'Operator, oil and-or gas well' as it applies to the area of energy can be defined as ' The person responsible for the management and day-to-day operation of one or more crude oil and/or natural gas wells as of December 31 of the report year.The operator is generally a working-interest owner or a company under contract to the working-interest owner(s). Wells included are those that have proved reserves of crude oil, natural gas, and/or lease condensate in the reservoirs associated with them, whether or not they are producing. Wells abandoned during the report year are also to be considered 'operated' as of December 31'.
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