312 IAC 17-1-1 Definitions

Sec. 1. The following definitions apply throughout this rule: (1) "Commence to drill a well" means the institution of work in good faith with drilling equipment adequate for the drilling of a well to a depth that will reasonably test the oil and gas productiveness of the public lands where the well is commenced. (2) "Division director" refers to the director of the division of oil and gas. (3) "Gross value" means the value of petroleum at the well produced and saved, without deduction for expense of production. (4) "Petroleum" means any liquid or gaseous hydrocarbon occurring in nature beneath the surface of the earth. (5) "Proven territory" means territory so situated with reference to known producing wells as to establish the general opinion that, because of its relation to them, petroleum is contained in it. (6) "Public lands" means lands and areas belonging to, or subsequently acquired by, the state or any of its institutions, including lands of every kind and nature.