Executive Order 12209—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 permit the conversion to new oil status of all old oil production from marginal oil wells effective April 1, 1980, it is hereby ordered that Executive Order No. 12187 of December 29, 1979, is amended to read as follows:

"1-101. For purposes of the pricing regulations adopted pursuant to the Emergency Petroleum Allocation Act of 1973, with respect to the months of January, February and March 1980, 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,

April 16, 1980.

[Filed with the Office of the Federal Register, 10:36 a.m., April 17, 1980]