Sec. 22. (a) After the issuance of a petroleum lease the lessee shall proceed to develop the petroleum in the land through the drilling of the wells that will efficiently extract the petroleum. The development must take into account the following:
(1) The productiveness of the producing horizon.
(2) The depth at which the producing horizon occurs.
(3) The average cost of wells.
(4) The market requirements obtaining at any given time.
(5) The maintenance of proper oil and gas ratios.
(b) The commission shall determine, either by rule or by inclusion in the terms of a lease, the rapidity and extent of development of the oil, gas, or other petroleum field covered by the lease.
[Pre-1995 Recodification Citation: 14-4-3-18.]
As added by P.L.1-1995, SEC.31.
Structure Indiana Code
Title 14. Natural and Cultural Resources
Article 38. Other Petroleum Regulation
Chapter 1. Petroleum Exploration on State Property
14-38-1-1. "Commence to Drill a Well" Defined
14-38-1-3. "Petroleum" Defined
14-38-1-4. "Proven Territory" Defined
14-38-1-5. "Public Land" Defined
14-38-1-7. No Permits Issued for Proven Territory
14-38-1-8. Compensation of Landowners and State
14-38-1-9. Prosecution of Operations With Reasonable Diligence
14-38-1-10. Surrender of Permit
14-38-1-11. Permittee's Lease for Petroleum Extraction
14-38-1-12. Other Leases for Petroleum Extraction
14-38-1-14. Consideration for Leases
14-38-1-15. Cancellation of Permit or Lease
14-38-1-16. Issuance of New Permit Following Expiration or Forfeiture
14-38-1-17. Agreement for Production From Same Petroleum Field
14-38-1-18. Terms for Protection of Rights
14-38-1-20. Well Not to Be Drilled Within 330 Feet of Property Boundaries
14-38-1-21. Right-of-Way Grants
14-38-1-22. Development Considerations
14-38-1-24. Prospecting Permits or Leases