Iowa Code 458A.9 – Voluntary agreements for unit operation valid
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Terms Used In Iowa Code 458A.9
- and: includes the word "or" and the use of the word "or" includes the word "and". See Iowa Code 458A.2
- Field: means the general area underlaid by one or more pools. See Iowa Code 458A.2
- Gas: means and includes all natural gas and all other fluid hydrocarbons which are produced at the wellhead and not defined in this section as oil. See Iowa Code 458A.2
- Oil: means and includes crude petroleum oil and other hydrocarbons regardless of gravity which are produced at the wellhead in liquid form and the liquid hydrocarbons known as distillate or condensate recovered or extracted from gas, other than gas produced in association with oil and commonly known as casinghead gas. See Iowa Code 458A.2
- Pool: means an underground reservoir containing a common accumulation of oil or gas or both; each zone of a structure which is completely separated from any other zone in the same structure is a pool, as that term is used in this chapter. See Iowa Code 458A.2
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Waste: means and includes all of the following:a. See Iowa Code 458A.2An agreement for the unit or cooperative development and operation of a field or pool, in connection with the conduct of a repressuring or pressure maintenance operations, cycling or recycling operations, including the extraction and separation of liquid hydrocarbons from natural gas, or any other method of operation, including water floods, may be performed without being in violation of any of the statutes of this state relating to trusts, monopolies, or contracts and combinations in restraint of trade, if the agreement is approved by the department as being in the public interest, protective of correlative rights, and reasonably necessary to increase ultimate recovery or to prevent waste of oil or gas. The agreements bind only the persons who execute them, and their heirs, successors, assigns, and legal representatives.