§ 521. Waste prohibited
(a) The waste of oil and gas is prohibited.
(b) The Board shall limit the rate at which oil and gas may be produced from any field or reservoir to the most efficient rate consistent with economically feasible recovery as determined by the Board from available technical information. However, controlled well performance tests to determine maximum potential or maximum productivity may be performed periodically, when authorized by the Board.
(c) The Board shall allocate the allowable production among the several wells or producing properties in a field or reservoir so that each owner will have a reasonable opportunity to produce or receive his or her just and equitable share of production. However, no allocation made by the Board shall be inconsistent with the prevention of waste. (Added 1981, No. 240 (Adj. Sess.), § 2, eff. April 28, 1982.)
Structure Vermont Statutes
Title 29 - Public Property and Supplies
Chapter 14 - Natural Gas and Oil Conservation
§ 504. Composition of the Board
§ 511. Hearings conducted by examiners
§ 512. Hearings conducted by the Board
§ 516. Governmental cooperation
§ 517. Standards for rulemaking
§ 524. Antitrust immunity for voluntary units
§ 531. Management of State oil and gas resources
§ 532. State oil and gas leases authorized
§ 533. Notice of intention to lease State lands
§ 534. Gas produced from State lands
§ 535. State reservation of oil, gas, and minerals
§ 543. Reports of oil and gas operations
§ 545. Conveyance and acquisition of oil and gas interests
§ 551. Illegal oil, gas, and product
§ 552. Illegal oil, gas, or product declared contraband
§ 553. Disclosure of confidential information prohibited
§ 561. Release of oil and gas leases
§ 562. Subdivision of land subject to an oil and gas lease
§ 563. Abandonment of oil and gas interests; preservation
§ 564. Surface use value appraisal of agriculture and forestlands