LegalFix
Sign In

Section 19-10-46 - [Cooperative agreements; requisites for approval.]

NM Stat § 19-10-46 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

No such agreement shall be consented to or approved by the commissioner unless he finds that:

A. such agreement will tend to promote the conservation of oil or gas and the better utilization of reservoir energy;

B. under the operations proposed the state and each beneficiary of the lands involved will receive its fair share of the recoverable oil or gas in place under its lands in the area affected; and

C. the agreement is in other respects for the best interests of the state.

History: 1941 Comp., § 8-1139, enacted by Laws 1943, ch. 88, § 2; 1953 Comp., § 7-11-40; Laws 1961, ch. 176, § 2.

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

Previous Section
Section 19-10-45 - Cooperative agreements for development or operation of oil and gas pools between lessees and others.
Next Section
Section 19-10-47 - [Amendment of leases to conform with cooperative agreements.]