The Board of Educational Lands and Funds is hereby authorized, in its discretion, to enter into appropriate agreements for the purpose of unit or cooperative exploration, development, and operation of acreage, or any part of the acreage, covered by leases granted pursuant hereto, with other acreage for the production of oil and gas. Such agreements shall provide for the allocation of production on a proportionate acreage or other agreed equitable basis.
Neb. Rev. Stat. § 72-908
Exploration, development, and operation for oil and gas production; agreements authorized
Laws 1943, c. 164, § 8, p. 581; R.S.1943, § 72-908; Laws 1955, c. 280, § 1, p. 885.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.