Title 42, The Public Health and WelfareRelease 119-110
§6247b Purchase of Oil From Marginal Wells
Title 42 › CHAPTER 77 — ENERGY CONSERVATION › SUBCHAPTER I — DOMESTIC SUPPLY AVAILABILITY › Part B — Strategic Petroleum Reserve › § 6247b
Summary
If oil prices fall below $15.00 per barrel (adjusted for inflation), the Secretary may buy oil from marginal wells at that $15.00 per barrel using funds under section 6246. 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)In general
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)Definition of marginal well
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
Sep 22, 2026
Release point: 119-110