2011 New Mexico Statutes
Chapter 19: Public Lands
Article 10: Lease of Oil and Gas Lands, 19-10-1 through 19-10-70
Section 19-10-46: Cooperative agreements; requisites for approval.
19-10-46. [Cooperative agreements; requisites for approval.]
No such agreement shall be consented to or approved by the commissioner unless he finds that:
A. such agreement will tend to promote the conservation of oil or gas and the better utilization of reservoir energy;
B. under the operations proposed the state and each beneficiary of the lands involved will receive its fair share of the recoverable oil or gas in place under its lands in the area affected; and
C. the agreement is in other respects for the best interests of the state.
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