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Tex. Nat. Res. Code § 102.015

PROHIBITED PROVISIONS IN OPERATING AGREEMENT

Known as the Mineral Interest Pooling Act

The act spans §§ 102–102 (20 sections).

Acts 1977, 65th Leg., p. 2572, ch. 871, art

A pooling agreement, offer to pool, or pooling order is not considered fair and reasonable if it provides for an operating agreement containing any of the following provisions:

(1) preferential right of the operator to purchase mineral interests in the unit;

(2) a call on or option to purchase production from the unit;

(3) operating charges that include any part of district or central office expense other than reasonable overhead charges; or

(4) prohibition against nonoperators questioning the operation of the unit.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.