(1) A privilege tax of six percent of the gross value at the well is levied upon the production of oil and gas within the State of Oregon. The gross value at the well shall be reduced by the value of any part thereof, the ownership or right to which is exempt from taxation.\n(2) The tax levied shall be measured by the value of the whole production, including what is commonly known as the royalty interest. [1981 c.889 §2; 1991 c.459 §322]
Oregon Legal Code