§ 27-536 – Modification of property rights, leases and contracts; title to property; distribution of proceeds; delivery in kind; effect of operations; matters not affected
27-536. Modification of property rights, leases and contracts; title to property; distribution of proceeds; delivery in kind; effect of operations; matters not affected A. Property rights, leases, contracts and all other rights and obligations shall be regarded as amended and modified to the extent necessary to conform to the provisions and requirements of this article, […]
§ 27-537 – Enlargement of area; creation of new units; amendment of plan
27-537. Enlargement of area; creation of new units; amendment of plan The unit area of a unit may be enlarged to include adjoining portions of the same pool, including the unit area of another unit, and a new unit created for the unitized management, operation and further development of such enlarged unit area, or the […]
§ 27-538 – Federal taxation
27-538. Federal taxation Any unit agreement approved by the commission shall contain language suggested by the internal revenue service under I.T. 3930 and I.T. 3948 so that owners in the unitized area will not be held taxable as a corporation.
§ 27-539 – Validation of unit agreements
27-539. Validation of unit agreements An agreement for the unit or cooperative development and operation of a field, pool, or part thereof, may be submitted to the commission for approval as being in the public interest or reasonably necessary to prevent waste. Such approval shall constitute a complete defense to any suit charging violation of […]
§ 27-534 – Unlawful operation
27-534. Unlawful operation From and after the effective date of an order of the commission creating a unit and prescribing the plan of unitization applicable thereto, the operation of any well producing from the pool or portion thereof within the unit area defined in the order by persons other than the unit or persons acting […]
§ 27-535 – Status and powers of unit; liability and expenses; lien
27-535. Status and powers of unit; liability and expenses; lien A. The obligation or liability of the lessees or other owners of the oil and gas rights in the several separately owned tracts for the payment of unit expense shall at all times be several and not joint or collective and in no event shall […]
§ 27-531 – Integration of interests and spacing units
27-531. Integration of interests and spacing units A. To prevent or to assist in preventing waste, to insure a greater recovery of oil and gas, and to protect the correlative rights of persons owning interests in the tracts of lands affected, such persons may validly integrate their interests to provide for the unitized management, development […]
§ 27-532 – Order; units and unit areas; plan of unitization
27-532. Order; units and unit areas; plan of unitization The order of the commission shall define the area of the pool or portion thereof to be included within the unit area and prescribe with reasonable detail the plan of unitization applicable thereto. Each unit and unit area shall be limited to all or a portion […]
§ 27-533 – Ratification or approval of plan by lessees and owners
27-533. Ratification or approval of plan by lessees and owners A. No order of the commission creating a unit and prescribing the plan of unitization applicable thereto shall become effective unless and until the plan of unitization has been signed, or in writing ratified or approved by lessees of record of not less than sixty-three […]