27-664

27-664. Cooperative development agreements;
unitization

Whenever the commission finds that it is in the interest of the protection of the
geothermal resources of this state from unreasonable waste, the lessors, lessees,
operators, owners or other persons holding or controlling royalty or other interest in
separate properties within the same productive or prospectively productive geothermal
area may, with the approval of the commission, enter into agreement for the purpose of
bringing about the cooperation, development and operation of all or a portion of the
geothermal resources area as a unit, or for the purpose of fixing the time, location and
manner of drilling and operating of wells for the production of geothermal resources
within such area or portion thereof. Any such agreement shall bind the successors and
assigns of the parties thereto and shall be enforceable by the parties thereto by an
action for a specific performance. No such agreement, when approved by the commission,
shall be held to violate any of the statutes of this state prohibiting monopolies or
acts, arrangements, agreements, contracts, combinations or conspiracies in restraint of
trade or commerce. 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 section.