Oil PR Form Guide

Master oil and condensate reporting with detailed guidance on disposition codes, tank runs, stock adjustments, and reconciliation procedures.

Oil PR Form Essentials

Oil PR Forms require careful attention to production volumes, disposition codes, and balance reconciliation. Unlike gas reporting, oil involves physical inventory management and run ticket documentation.

Key Principle: Total production must equal total dispositions, accounting for inventory changes and shrinkage.

Required Data Elements:

  • Gross production by lease and product type
  • Beginning and ending tank inventories
  • Run tickets and sales volumes
  • Disposition codes for each volume
  • Shrinkage and loss calculations
  • Stock adjustments and corrections

Common Oil Disposition Codes

Understanding disposition codes is crucial for accurate oil PR Form filing.

Code Description Usage
01 Sold Oil sold to purchasers
02 Used for fuel Oil used on lease for operations
03 Shrinkage/Loss Normal operational losses
04 Stock adjustment Inventory corrections
05 Transferred Moved to another lease

Tank Runs & Inventory Management

Proper tank management is essential for accurate oil reporting and regulatory compliance.

Best Practices:

  • Daily Gauging: Record tank levels consistently
  • Run Ticket Documentation: Maintain detailed records
  • Temperature Corrections: Apply proper API gravity adjustments
  • BS&W Deductions: Account for basic sediment and water
  • Reconciliation: Balance production vs. dispositions monthly
Formula: Beginning Inventory + Production - Ending Inventory = Dispositions

Common Reconciliation Issues

Avoid these frequent problems that cause PR Form rejections:

  • Unbalanced Volumes: Production doesn't match dispositions
  • Missing Run Tickets: Sales without proper documentation
  • Incorrect Shrinkage: Unrealistic loss percentages
  • Tank Gauge Errors: Inconsistent inventory measurements
  • Wrong Disposition Codes: Misclassified oil movements
Read detailed oil PR Form guide →