Title 42 — The Public Health and WelfareRelease 119-73
§6247b Purchase of oil from marginal wells
Title 42 › Chapter CHAPTER 77— - ENERGY CONSERVATION › Subchapter SUBCHAPTER I— - DOMESTIC SUPPLY AVAILABILITY › Part Part B— - Strategic Petroleum Reserve › § 6247b
Summary
When the market price of oil drops below $15.00 per barrel (that $15.00 equals the yearly average well‑head price for U.S. crude, adjusted for inflation), the Secretary can buy oil from a marginal well at $15.00 per barrel, also adjusted for inflation. Marginal well means the same as "stripper well property" in 26 U.S.C. 613A(c)(6)(E).
Full Legal Text
Title 42, §6247b
The Public Health and Welfare — Source: USLM XML via OLRC
(a)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)The term “marginal well” has the same meaning as the definition of “stripper well property” in section 613A(c)(6)(E) of title 26.
Reference
Citations & Metadata
Citation
42 U.S.C. § 6247b
Title 42 — The Public Health and Welfare
Last Updated
Apr 6, 2026
Release point: 119-73