Nevada Revised Statutes 522.0824 – Voluntary unitization; petition for compulsory unitization
1. To prevent, or to assist in preventing waste, as prohibited by this chapter, to ensure a greater ultimate recovery of oil and gas, and to protect the correlative rights of persons owning interests in the tracts of land affected, those persons may validly integrate their interests to provide for the unitized management, development and operation of those tracts of land as a unit. Where those persons have not agreed so to integrate their interests, the Division, upon proper petition, after notice and hearing, shall make and enforce such orders and do such things as may be necessary or proper to carry out the purposes of NRS 522.0828 to 522.0878, inclusive.
Terms Used In Nevada Revised Statutes 522.0824
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
2. The petition must set forth a description of the proposed unit area with a map or plat thereof attached, must allege the existence of the facts required to be found by the Division as provided in NRS 522.0828 and must have attached thereto a recommended plan of unitization applicable to the proposed unit area and which the petitioner considers to be fair, reasonable and equitable.