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§ 70-7-17 NMSA 1978

Property rights

Known as the Statutory Unitization Act

The act spans §§ 70-7-1 to 70-7-9 (21 sections).

1953 Comp., § 65-14-17, enacted by Laws 1975, ch. 293, § 17.

Except to the extent that the parties affected so agree, no order providing for unit operations shall be construed to result in a transfer of all or any part of the title of any person to the oil and gas rights in any tract in the unit area. All property, whether real or personal, that may be acquired in the conduct of unit operations hereunder shall be acquired for the account of the working interest owners within the unit area, and shall be the property of such working interest owners in the proportion that the costs of unit operations are charged.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.