§ 15-72-101 - Declaration of policy.
15-72-101. Declaration of policy.
In recognition of past, present, and imminent evils occurring in the production and use of oil and gas as a result of waste in the production and use thereof in the absence of coequal or correlative rights of owners of crude oil or natural gas in a common source of supply to produce and use the crude oil or natural gas, this law is enacted for the protection of public and private interests against such evils by prohibiting waste and compelling ratable production.