(1) Upon the filing of a petition as hereinafter provided, the Oil and Gas Commission after notice shall hold a public hearing to consider the need to establish a salt water disposal unit for an entire pool.
(2) The petition shall contain the following: A description of the proposed unit area;
(3) A statement of the nature of the proposed salt water disposal unit operation; and
(4) A conformed copy of the proposed salt water disposal unit operating agreement which may be a composite of executed counterparts of the agreement.
(5) The petition may be filed by one (1) or more persons authorized in the salt water disposal unit agreement to file it with the commission.