458A.9 - VOLUNTARY AGREEMENTS FOR UNIT OPERATION VALID.
458A.9 VOLUNTARY AGREEMENTS FOR UNIT OPERATION VALID. An agreement for the unit or co-operative development and operation of a field or pool, in connection with the conduct of a repressuring or pressure maintenance operations, cycling or recycling operations, including the extraction and separation of liquid hydrocarbons from natural gas, or any other method of operation, including water floods, may be performed without being in violation of any of the statutes of this state relating to trusts, monopolies, or contracts and combinations in restraint of trade, if the agreement is approved by the department as being in the public interest, protective of correlative rights, and reasonably necessary to increase ultimate recovery or to prevent waste of oil or gas. The agreements bind only the persons who execute them, and their heirs, successors, assigns, and legal representatives.
Section History: Early Form [C66, 71, 73, 75, 77, 79, 81, § 84.9; 82 Acts, ch 1199, § 45, 96]
Section History: Recent Form C93, § 458A.9