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Current as of March 28, 2024 | Updated by Findlaw Staff
Where royalties are paid in lieu of drilling off-set wells on forty-acre units adjacent to forty-acre units already in production, the forty-acre units adjacent to the forty-acre unit receiving the royalty payments shall immediately after the signing of the agreement or contract become off-set units, and drilling operations shall begin on each adjacent forty-acre off-sets, to the forty-acre unit receiving royalty payments in lieu of drilling the well in not less than ninety (90) days thereafter.
Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-74-702. Payments respecting off-set units - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-74-702/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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