Terms Used In South Carolina Code > Title 48 > Chapter 43 > Article 2 - Exploration and Production

• Admissions fee: means the specially designated admissions fee or charge which may, in addition to other charges, be imposed by the trustees upon persons admitted to any event held at an athletic facility, for the purpose of providing funds to assist in the repayment of bonds. See South Carolina Code 59-119-920
• Admissions fee: means the specially designated admissions fee or charge which may, in addition to other charges, be imposed by the visitors upon persons admitted to any event held at an athletic facility, for the purpose of providing funds to assist in the repayment of bonds. See South Carolina Code 59-121-320
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Athletic department: means the athletic department of Clemson. See South Carolina Code 59-119-920
• Athletic department: means the athletic department of The Citadel. See South Carolina Code 59-121-320
• Athletic facilities: means all facilities designated by the trustees as intercollegiate athletic facilities now owned or hereafter acquired by Clemson. See South Carolina Code 59-119-920
• Athletic facilities: means all facilities designated by the visitors as intercollegiate athletic facilities now owned or hereafter acquired by The Citadel. See South Carolina Code 59-121-320
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authority: means the State Fiscal Accountability Authority. See South Carolina Code 59-119-720
• Authority: means the State Fiscal Accountability Authority. See South Carolina Code 59-119-920
• Authority: means the State Fiscal Accountability Authority. See South Carolina Code 59-121-320
• Bequest: Property gifted by will.
• Bond reserve fund: means the special fund which may be established by the trustees pursuant to this article, which must be in the custody of the State Treasurer or its corporate trust designee and which is primarily established for the purpose of providing a reserve with which to meet the payment of the principal of and interest on bonds in the event that payments otherwise required from the debt service fund are insufficient to meet the payment of the principal and interest as and when they become due and payable. See South Carolina Code 59-119-920
• Bond reserve fund: means the special fund which may be established by the visitors pursuant to this article, which must be in the custody of the State Treasurer or its corporate trust designee and which is primarily established for the purpose of providing a reserve with which to meet the payment of the principal of and interest on bonds in the event that payments otherwise required from the debt service fund are insufficient to meet the payment of the principal and interest as and when they become due and payable. See South Carolina Code 59-121-320
• bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this article. See South Carolina Code 59-117-220
• bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this chapter. See South Carolina Code 59-119-720
• bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this article. See South Carolina Code 59-119-920
• bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this article. See South Carolina Code 59-121-320
• Citadel: means The Citadel, the Military College of South Carolina. See South Carolina Code 59-121-320
• Clemson: means Clemson University. See South Carolina Code 59-119-720
• Clemson: means Clemson University. See South Carolina Code 59-119-920
• Condensate: means liquid hydrocarbons that were originally in the gaseous phase in the reservoir. See South Carolina Code 48-43-10
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Debt service fund: means the fund established by this article for the payment of principal of and interest on bonds, which must be in the custody of the State Treasurer or its corporate trust designee. See South Carolina Code 59-119-920
• Debt service fund: means the fund established by this article for the payment of principal of and interest on bonds, which must be in the custody of the State Treasurer or its corporate trust designee. See South Carolina Code 59-121-320
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the South Carolina Department of Health and Environmental Control. See South Carolina Code 48-43-10
• Devise: To gift property by will.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• Facilities: means any or all of the following facilities operated to provide for the students, faculty, or staff at the University: dining or food service facilities; laundry facilities; canteen facilities; vending machines; convenience stores; any other facilities for the sale of sundry items; health services; book stores; parking lots and vehicle registration; and all furniture, furnishings and equipment in them, which are now owned by the University, or which may be acquired by the University for any of these purposes. See South Carolina Code 59-117-220
• Facilities: means any or all of the following facilities operated to provide for the students, faculty, or staff at Clemson: dining or food service facilities; laundry facilities; canteen facilities; vending machines; convenience stores; any other facilities for the sale of sundry items; health services; book stores; parking lots and vehicle registration; and all furniture, furnishings and equipment in them, which are now owned by Clemson, or which may be acquired by Clemson for any of these purposes. See South Carolina Code 59-119-720
• Fiduciary: A trustee, executor, or administrator.
• Field: means the general area underlain by one or more pools. See South Carolina Code 48-43-10
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Gas: means all natural gas and all other fluid hydrocarbons not hereinabove defined as oil, including condensate because it originally was in the gaseous phase in the reservoir. See South Carolina Code 48-43-10
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Just and Equitable Share of the Production: means , as to each person, that part of the authorized production from the pool that is substantially in the proportion that the amount of recoverable oil or gas or both in the developed areas of his tract or tracts in the pool bears to the recoverable oil or gas or both in the total of the developed areas in the pool. See South Carolina Code 48-43-10
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Net revenues: means all revenues remaining after payment of the operating and maintenance expenses of the athletic department but before provision is made for depreciation, amortization, nonmandatory transfers, and interest expenses of the athletic department for a given fiscal year. See South Carolina Code 59-119-920
• Net revenues: means all revenues remaining after payment of the operating and maintenance expenses of the athletic department but before provision is made for depreciation, amortization, nonmandatory transfers, and interest expenses of the athletic department for a given fiscal year. See South Carolina Code 59-121-320
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oil: means crude petroleum oil and all other hydrocarbons, regardless of gravity, that are produced in liquid form by ordinary production methods, but does not include liquid hydrocarbons that were originally in a gaseous phase in the reservoir. See South Carolina Code 48-43-10
• Owner: means the person who has the right to drill into and produce from a pool and to appropriate the oil or gas that he produces therefrom, either for himself or for himself and others. See South Carolina Code 48-43-10
• Person: means any natural person, corporation, association, partnership, receiver, trustee, executor, administrator, guardian, fiduciary, or other representatives of any kind, and includes any government or any political subdivision or any agency thereof. See South Carolina Code 48-43-10
• Personal property: All property that is not real property.
• Pool: means an underground reservoir containing a common accumulation of oil and gas or both; each zone of a structure that is completely separated from any other zone in the same structure is a pool. See South Carolina Code 48-43-10
• Prior acts: means Acts 446 of 1957, 905 of 1960, 1277 of 1970, 1653 of 1972, 1303 of 1974, 760 of 1976, and 193 and 194 of 1983. See South Carolina Code 59-119-920
• Probate: Proving a will
• Protect Correlative Rights: means that the action or regulation by the department should afford a reasonable opportunity to each person entitled thereto to recover or receive the oil or gas in his tract or tracts or the equivalent thereto, without being required to drill unnecessary wells or to incur other unnecessary expense to recover or receive such oil or gas or its equivalent. See South Carolina Code 48-43-10
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Revenues: means all revenues or other income, including investment income, received by the athletic department from the operation of the athletic department and the athletic facilities, and all gifts, bequests, contributions, and donations received by the trustees or Clemson from any persons, including from any athletic booster organization, for use in connection with the operations of the athletic department, plus any other unrestricted revenues of the athletic department not otherwise pledged that may be made applicable by the trustees to the payment of the principal and interest of the bonds, including such revenues which may fall into the category of nonmandatory transfers as such term is used in generally accepted accounting principles, but excluding:
  
  (i) gifts, bequests, contributions, and donations restricted to a particular purpose inconsistent with their use for the payment of the principal, premium, or interest on any obligations of the trustees or Clemson;
  
  (ii) the proceeds of any borrowings;
  
  (iii) state appropriations of any sort; and
  
  (iv) revenues, income, receipts, and money received by the trustees or Clemson for purposes other than those related to the athletic department. See South Carolina Code 59-119-920
• Revenues: means all revenues or other income, including investment income, received by the athletic department from the operation of the athletic department and the athletic facilities, and all gifts, bequests, contributions, and donations received by the visitors or The Citadel from any persons, including from any athletic booster organization, for use in connection with the operations of the athletic department, plus any other unrestricted revenues of the athletic department not otherwise pledged that may be made applicable by the visitors to the payment of the principal and interest of the bonds, including such revenues which may fall into the category of nonmandatory transfers as such term is used in generally accepted accounting principles, but excluding:
  
  (i) gifts, bequests, contributions, and donations restricted to a particular purpose inconsistent with their use for the payment of the principal, premium, or interest on any obligations of the visitors or The Citadel;
  
  (ii) the proceeds of any borrowings;
  
  (iii) state appropriations of any sort; and
  
  (iv) revenues, income, receipts, and money received by the visitors or The Citadel for purposes other than those related to the athletic department. See South Carolina Code 59-121-320
• Royalty owner: means the person who pursuant to a lease arrangement with another has the right to receive, free of costs, an allocation of production or payments based upon the value of production. See South Carolina Code 48-43-10
• Special student fee: means the fee authorized by this article to be established by the trustees and which may be imposed upon persons in attendance at any academic session of Clemson in order to provide funds to assist in the repayment of bonds. See South Carolina Code 59-119-920
• Special student fee: means the fee authorized by this article to be established by the visitors and which may be imposed upon persons in attendance at any academic session of The Citadel in order to provide funds to assist in the repayment of bonds. See South Carolina Code 59-121-320
• State Fiscal Accountability Authority: means the State Fiscal Accountability Authority. See South Carolina Code 59-117-220
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Trustee: A person or institution holding and administering property in trust.
• Trustees: means the Board of Trustees of the University or any successor body. See South Carolina Code 59-117-220
• Trustees: means the Board of Trustees of Clemson or any successor body. See South Carolina Code 59-119-720
• Trustees: means the board of trustees of Clemson or any successor body. See South Carolina Code 59-119-920
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• University: means the University of South Carolina. See South Carolina Code 59-117-220
• Visitors: means the Board of Visitors of The Citadel or any successor body. See South Carolina Code 59-121-320
• Waste: means and includes:
  
  (1) physical waste, as that term is generally understood in the oil and gas industry;
  
  (2) the inefficient, excessive, or improper use, or the unnecessary dissipation of, reservoir energy;
  
  (3) the inefficient storing of oil and gas;
  
  (4) the locating, drilling, equipping, operating, or producing of any oil or gas well in a manner that causes, or tends to cause, reduction in the quantity of oil or gas ultimately recoverable from a pool under prudent and proper operations, or that causes or tends to cause unnecessary or excessive surface loss or destruction or oil or gas;
  
  (5) the production of oil or gas in excess of
  
  (a) transportation or marketing facilities;
  
  (b) the amount reasonably required to be produced in the proper drilling, completing or testing of the well from which it is produced; or
  
  (c) oil or gas otherwise usefully utilized but gas produced from an oil well or condensate well pending the time when, with reasonable diligence, the gas can be sold or otherwise usefully utilized on terms and conditions that are just and reasonable shall not be considered waste if the production of such gas has been approved by order of the department;
  
  (6) underground or above ground waste in the production or storage of oil, gas, or condensate, however caused, and whether or not defined in other subdivisions hereof. See South Carolina Code 48-43-10