2014 Oklahoma Statutes
Title 52. Oil and Gas
§52-549.11. Rights of operator.

52 OK Stat § 52-549.11 (2014) What's This?

RIGHTS OF OPERATOR NOT IMPAIRED

This act does not impair an operator's right to be paid, set-off or withhold funds from another interest owner as security for or in satisfaction of any debt or security interest. In case of a dispute between an operator and another interest owner, a good-faith tender of funds by anyone operates as a tender of the funds to both in any of the following circumstances:

1. To the person who the operator and other interest owner jointly direct the first purchaser in writing to pay;

2. To a person who otherwise shows himself or herself to be the one entitled to the funds; or

3. To a court of competent jurisdiction in the event of litigation or bankruptcy.

Added by Laws 2010, c. 142, § 11, emerg. eff. April 19, 2010.

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