Section 9-17-84 Order requiring unit operation - When effective; when automatically revoked. - Alabama Statutes

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Section 9-17-84

Order requiring unit operation - When effective; when automatically revoked.

An order requiring unit operation shall not become effective unless and until agreements incorporating the provisions of Section 9-17-83 have been signed or in writing ratified or approved by the owners of at least 66 2/3 percent in interest as costs are shared under the terms of the allocation formula established by the board in the order pursuant to Section 9-17-83(3) and by 66 2/3 percent in interest of the royalty owners in the unit area as revenues are distributed under the terms of the allocation formula established by the board in the order pursuant to Section 9-17-83(3), and the board has made a finding to that effect either in the order or in a supplemental order. In the event the required percentage interests have not signed, ratified, or approved the order or agreements within six months from and after the date of the order it shall be automatically revoked.

(Acts 1957, No. 352, p. 461, §4; Acts 1965, 2nd Ex. Sess., No. 80, p. 110, §1; Act 2000-714, p. 1517, §1.)

State Codes and Statutes

Statutes > Alabama > Title9 > Chapter17 > 9-17-84

Section 9-17-84

Order requiring unit operation - When effective; when automatically revoked.

An order requiring unit operation shall not become effective unless and until agreements incorporating the provisions of Section 9-17-83 have been signed or in writing ratified or approved by the owners of at least 66 2/3 percent in interest as costs are shared under the terms of the allocation formula established by the board in the order pursuant to Section 9-17-83(3) and by 66 2/3 percent in interest of the royalty owners in the unit area as revenues are distributed under the terms of the allocation formula established by the board in the order pursuant to Section 9-17-83(3), and the board has made a finding to that effect either in the order or in a supplemental order. In the event the required percentage interests have not signed, ratified, or approved the order or agreements within six months from and after the date of the order it shall be automatically revoked.

(Acts 1957, No. 352, p. 461, §4; Acts 1965, 2nd Ex. Sess., No. 80, p. 110, §1; Act 2000-714, p. 1517, §1.)

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State Codes and Statutes

Statutes > Alabama > Title9 > Chapter17 > 9-17-84

Section 9-17-84

Order requiring unit operation - When effective; when automatically revoked.

An order requiring unit operation shall not become effective unless and until agreements incorporating the provisions of Section 9-17-83 have been signed or in writing ratified or approved by the owners of at least 66 2/3 percent in interest as costs are shared under the terms of the allocation formula established by the board in the order pursuant to Section 9-17-83(3) and by 66 2/3 percent in interest of the royalty owners in the unit area as revenues are distributed under the terms of the allocation formula established by the board in the order pursuant to Section 9-17-83(3), and the board has made a finding to that effect either in the order or in a supplemental order. In the event the required percentage interests have not signed, ratified, or approved the order or agreements within six months from and after the date of the order it shall be automatically revoked.

(Acts 1957, No. 352, p. 461, §4; Acts 1965, 2nd Ex. Sess., No. 80, p. 110, §1; Act 2000-714, p. 1517, §1.)