Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 5

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 5
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 intrastate oil pipeline rates varies from state to state. Insofar as effective interstate and intrastate rates are
equally applicable to all comparable shippers, we believe that the regulation of oil transportation rates will not affect our operations
in any way that is of material difference from those of our competitors that are similarly situated.

Further, interstate and intrastate common carrier
oil pipelines must provide service on a non-discriminatory basis. Under this open access standard, common carriers must offer service
to all similarly situated shippers requesting service on the same terms and under the same rates. When oil pipelines operate at full capacity,
access is generally governed by pro-rationing provisions set forth in the pipelines’ published tariffs. Accordingly, we believe
that access to oil pipeline transportation services generally will be available to us to the same extent as to our similarly situated
competitors.

Regulation of Transportation and Sales of Natural
Gas

Historically, the transportation and sale for resale
of natural gas in interstate commerce has been regulated by the FERC under the Natural Gas Act of 1938 (“NGA”), the Natural
Gas Policy Act of 1978 (“NGPA”) and regulations issued under those statutes. In the past, the federal government has regulated
the prices at which natural gas could be sold. While sales by producers of natural gas can currently be made at market prices, Congress
could reenact price controls in the future.

Onshore gathering services, which occur upstream of
FERC jurisdictional transmission services, are regulated by the states. Although the FERC has set forth a general test for determining
whether facilities perform a non-jurisdictional gathering function or a jurisdictional transmission function, the FERC’s determinations
as to the classification of facilities is done on a case-by-case basis. State regulation of natural gas gathering facilities generally
includes various safety, environmental and, in some circumstances, nondiscriminatory take requirements. Although such regulation has not
generally been affirmatively applied by state agencies, natural gas gathering may receive greater regulatory scrutiny in the future.

Intrastate natural gas transportation and facilities
are also subject to regulation by state regulatory agencies, and certain transportation services provided by intrastate pipelines are
also regulated by FERC. The basis for intrastate regulation of natural gas transportation and the degree of regulatory oversight and scrutiny
given to intrastate natural gas pipeline rates and services varies from state to state. Insofar as such regulation within a particular
state will generally affect