The portion of the unit production allocated to any tract, and the proceeds from the sale thereof, shall be the property and income of the several persons to whom, or to whose credit, the same are allocated or payable under the order providing for unit operations.
History: 1953 Comp., § 65-14-13, enacted by Laws 1975, ch. 293, § 13.
Structure New Mexico Statutes
Article 7 - Statutory Unitization Act
Section 70-7-1 - Purpose of act.
Section 70-7-3 - Additional powers and duties of the oil conservation division.
Section 70-7-5 - Requisites of application for unitization.
Section 70-7-6 - Matters to be found by the division precedent to issuance of unitization order.
Section 70-7-7 - Division orders.
Section 70-7-8 - Ratification or approval of plan by owners.
Section 70-7-9 - Amendment of plan of unitization.
Section 70-7-10 - Previously established units.
Section 70-7-11 - Unit operations of less than an entire pool.
Section 70-7-12 - Operation; expressed or implied covenants.
Section 70-7-13 - Income from unitized substances.
Section 70-7-14 - Lien for costs.
Section 70-7-15 - Liability for expenses.
Section 70-7-16 - Division orders.
Section 70-7-17 - Property rights.
Section 70-7-18 - Existing rights, rights in unleased land and royalties and lease burdens.
Section 70-7-19 - Agreements not violative of laws governing monopolies or restraint of trade.