Kentucky Statutes 353.653 – Share of production from drilling unit or unitized pool
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Each operator shall have the right to take in kind its share of any oil or gas produced from any drilling unit or pool unitized under KRS § 353.510, 353.520, 353.565, 353.610,
353.651 to 353.654, 353.700, or 353.991. The operator shall pay the expenses occasioned thereby and pay or account to the unit operator for the oil or gas or the value thereof if he has not paid his share of drilling, completing and operating costs. This section applies to deep well drilling units only.
Effective: July 13, 1990
History: Amended 1990 Ky. Acts ch. 11, sec. 2, effective July 13, 1990. — Created
1974 Ky. Acts ch. 45, sec. 9.
353.651 to 353.654, 353.700, or 353.991. The operator shall pay the expenses occasioned thereby and pay or account to the unit operator for the oil or gas or the value thereof if he has not paid his share of drilling, completing and operating costs. This section applies to deep well drilling units only.
Terms Used In Kentucky Statutes 353.653
- Gas: means natural gas. See Kentucky Statutes 353.010
- Oil: means petroleum. See Kentucky Statutes 353.010
- Unit: means any tract or tracts which the department has determined is underlaid by a pool or pools of oil and associated gas, and is not a "drilling unit" as defined in KRS §. See Kentucky Statutes 353.010
- Well: means a borehole drilled or proposed to be drilled for the purpose of producing natural gas or petroleum, or one through which natural gas or petroleum is being produced. See Kentucky Statutes 353.010
Effective: July 13, 1990
History: Amended 1990 Ky. Acts ch. 11, sec. 2, effective July 13, 1990. — Created
1974 Ky. Acts ch. 45, sec. 9.