Executive Order 12187—Decontrol of Marginal Oil Wells

BASE PRODUCTION CONTROL LEVEL FOR

MARGINAL PROPERTIES

By the authority vested in me as President by the Constitution and statutes of the United States of America, including the Emergency Petroleum Allocation Act of 1973, as amended (15 U.S.C. 751 et seq.), and notwithstanding the delegations to the Secretary of Energy in Executive Order No. 11790, as amended by Executive Order No. 12038, and in order to delay the decontrol of marginal oil wells, it is hereby ordered as follows:

1-101. For purposes of the pricing regulations adopted pursuant to the Emergency Petroleum Allocation Act of 1973, with respect to months commencing after December 31, 1979, the base production control level for marginal properties shall equal 20 percent of the total number of barrels of old crude oil produced and sold from the property concerned during calendar year 1978, divided by 365, multiplied by the number of days during the month in 1978 which corresponds to the month concerned.

1-102. For purposes of this Order, the term "marginal properties" has the same meaning as that term under the crude oil pricing regulations adopted pursuant to the Emergency Petroleum Allocation Act of 1973, as amended.

1-103. The Secretary of Energy may, pursuant to Executive Order No. 11790, as amended by Executive Order No. 12038, adopt such regulations as he deems necessary or appropriate to conform the crude oil pricing regulations to this Order.

JIMMY CARTER

The White House,

December 29, 1979.

[Filed with the Office of the Federal Register, 12:43 p.m., December 31, 1979]