TeachMeFinance.com - explain Production, natural gas
Production, natural gas The term 'Production, natural gas' as it applies to the area of energy can be defined as ' The volume of natural gas withdrawn from reservoirs less (1) the volume returned to such reservoirs in cycling, repressuring of oil reservoirs, and conservation operations; less (2) shrinkage resulting from the removal of lease condensate; and less (3) nonhydrocarbon gases where they occur in sufficient quantity to render the gas unmarketable. Volumes of gas withdrawn from gas storage reservoirs and native gas, which has been transferred to the storage category, are not considered production. Flared and vented gas is also considered production. (This differs from 'Marketed Production' which excludes flared and vented gas.)'.
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