57-910. Unit or cooperative development; plans and agreements; authorization; not violations of law; approval by commission; effect.
187 words·~1 min read·
/ne/chapter-57/57-910A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Plans and agreements for the unit or cooperative development and operation of a field or pool, or a part of either, including those in connection with the conduct of repressuring or pressure maintenance operations, cycling or recycling operations, including the extraction and separation of liquid hydrocarbons from natural gas in connection therewith, water floods or any other method of operation, are authorized and may be performed, and shall not be held or construed to violate any of the statutes of this state relating to trusts, monopolies, or contracts and combinations in restraint of trade, if the plans and agreements are in the public interest, protective of correlative rights, and reasonably necessary to increase ultimate recovery or to prevent waste of oil or gas.
If any such plan or agreement has been approved by the commission and an order authorizing unit operations has been entered by it pursuant to notice and hearing as provided in sections 57-910 to 57-910.12 , it shall bind not only the persons who have executed such plan or agreement, but also all persons owning interests in oil and gas within the unit area.