A field run ticket is a documented record used in the oil and gas industry. It is typically completed by the purchaser or the transporter's representative to detail the amount of crude oil extracted from a specific well site. This ticket serves as an essential tool for tracking production and ensuring accurate transactions between parties involved in the oil extraction process.
Field run tickets are primarily used in the oil and gas sector, particularly in transactions involving the sale and transport of crude oil. They play a crucial role in legal agreements and contracts, ensuring that both buyers and sellers have a clear understanding of the quantities involved. This documentation can also be relevant in disputes over production amounts or payment issues.
Here are a couple of examples of abatement:
Example 1: A transporter collects crude oil from a well and fills out a field run ticket indicating that 5,000 barrels were extracted on March 1, 2023. Both the transporter and the buyer sign the document, which is then used for invoicing.
Example 2: A dispute arises when the buyer claims they received only 4,500 barrels. The transporter refers to the field run ticket, which confirms the original quantity, helping to resolve the issue. (hypothetical example)
Examples of state differences (not exhaustive):
| State | Field Run Ticket Requirements |
|---|---|
| Texas | Must include detailed well information and signatures. |
| California | Requires additional environmental compliance notes. |
| Oklahoma | Standard format is recommended but not mandatory. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Difference |
|---|---|---|
| Bill of Lading | A document issued by a carrier acknowledging receipt of cargo. | A bill of lading is used for transporting goods, while a field run ticket specifically documents crude oil extraction. |
| Production Report | A report detailing the output from oil wells over a specific period. | Production reports summarize output over time, whereas field run tickets record specific transactions. |
If you are involved in the oil and gas industry and need to complete a field run ticket, ensure that all relevant details are accurately documented. Consider using US Legal Forms' templates to assist in creating a compliant ticket. If you encounter disputes or complex situations, seeking professional legal advice may be beneficial.
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A field run ticket is a document that records the amount of crude oil extracted from a well, completed by the purchaser or transporter.