42 U.S.C. § 6247b. Purchase of oil from marginal wells
- (a)(a)
In general
From amounts authorized under section 6246 of this title, in any case in which the price of oil decreases to an amount less than $15.00 per barrel (an amount equal to the annual average well head price per barrel for all domestic crude oil), adjusted for inflation, the Secretary may purchase oil from a marginal well at $15.00 per barrel, adjusted for inflation. - (b)(b)
Definition of marginal well
The term “marginal well” has the same meaning as the definition of “stripper well property” in section 613A(c)(6)(E) of title 26.
(Pub. L. 94–163, title I, § 169, as added Pub. L. 106–469, title III, § 301(a), Nov. 9, 2000, 114 Stat. 2037.)