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The following information is about First Purchase (of Crude Oil).

First Purchase (of Crude Oil) Defined

An equity (not custody) transaction commonly associated with a transfer of ownership of crude oil associated with the physical removal of the crude oil from a property for the first time (also referred to as a lease sale). A first purchase normally occurs at the time and place of ownership transfer where the crude oil volume sold is measured and recorded on a run ticket or other similar physical evidence of purchase. The volume purchased and the cost of such transaction shall not be measured farther from the wellhead than the point at which the value for landowner royalties is established, if there was a separate landowner.

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Art Galleries

Published September 6, 2008, 12:14 am, Palo Alto Weekly

"Barnyard Portraits" by Karen Barone Exhibition of new oil paintings titled "Barnyard Portraits" by artist Karen Barone of Campbell. Reception Sept. 6, from 1-4 p.m. Exhibit runs through September. 10 a.m.-5 p.m. Call 650-321-0220 or visit www.portolaartgallery.com . Portola Art Gallery, 75 Arbor Road, Menlo Park

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Promenade Shops, Co"™s BMW give to schools through Scholar Dollars | By Marisa Beahm Loveland Reporter-Herald

Published September 6, 2008, 12:09 am, Loveland Reporter-Herald

LOVELAND – The Promenade Shops at Centerra and Co’s BMW Center are donating $19,500 in unrestricted funds to Thompson School District through a program called Scholar Dollars.

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Baghdad eyes F-16 purchase

Published September 5, 2008, 11:23 pm, Gulf Times

WASHINGTON: The Iraqi government has asked for information about buying 36 F-16 fighter aircraft built by Lockheed Martin Corp, the US Defence Department said yesterday.

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Pakistani lawmakers vote for president

Published September 5, 2008, 10:55 pm, GMA News

ISLAMABAD, Pakistan - Lawmakers began casting votes Saturday in Pakistan's presidential election, a race where the favorite by far is the scandal-tainted pro-US widower of slain ex-Prime Minister Benazir Bhutto.

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Northwest suburban religion notes

Published September 5, 2008, 10:36 pm, Daily Herald

The Ministry of New Beginnings, a Catholic-oriented, nondenominational, social support organization for separated, divorced, widowed and single persons, meets at 7:30 p.m. Mondays in the Hughes Center in front of St. Matthew's Church, 1001 E. Schaumburg Road, Schaumburg.

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Changes in the air: As summer ends, passengers brace for fewer flights, higher costs

Published September 5, 2008, 10:35 pm, Missoulian

ATLANTA - The grip U.S. airlines have on travelers' wallets is about to get tighter as carriers go ahead with plans to trim their domestic schedules due to the high cost of fuel.

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Arkansas Food Stamp Use Remains Steady

Published September 5, 2008, 10:33 pm, Times Record

Editor’s Note: The Times Record today continues a series of reports on how the waning U.S. economy is affecting the Fort Smith region. The series began Sunday.

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Harper to call for early elections in Canada

Published September 5, 2008, 10:22 pm, Pioneer Press

TORONTO — Canadian Prime Minister Stephen Harper plans to dissolve Parliament and call early elections Sunday in hopes of strengthening his minority government's hold on power. Harper's Conservatives need to win an additional 28 seats to have a majority in Parliament, and although he has played down that possibility, polls in recent days indicate the right-of-center party has a chance to do so. ...

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Church news 9/6

Published September 5, 2008, 10:14 pm, The Lufkin Daily News

Angelina Church of Christ. Weekly events. Sept. 7. Sunday, September 7, at 9:30 a.m., Bible classes for all ages. The adult class is studying the book of Acts taught by Tom Crater. At 10 a.m., Hershel Bearden's topic is "Dare to Dream" based on Ephesians 3:20-21. At 6 p.m., his topic is "Who is the Greatest?" using Matthew 18:1-6. On Wednesday at 7 p.m. there are Bible classes for all ages. The ...

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Methane from landfill to power homes

Published September 5, 2008, 9:48 pm, Spartanburg Herald-Journal

Published: Friday, September 5, 2008 at 3:15 a.m. Last Modified: Friday, September 5, 2008 at 1:52 a.m. Methane gas-to-energy projects have almost become the status quo at Spartanburg landfills in recent years.

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