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§ 581.6. Election to market share--Effect

Oklahoma Statutes AnnotatedTitle 52. Oil and Gas

Oklahoma Statutes Annotated
Title 52. Oil and Gas (Refs & Annos)
Chapter 13B. Natural Gas Market Sharing Act (Refs & Annos)
52 Okl.St.Ann. § 581.6
§ 581.6. Election to market share--Effect
An election to market share pursuant to the terms of the Natural Gas Market Sharing Act grants to any producing owner thereby required to share its market the authority to market its proportionate share of gas attributable to the working interest of such electing owner during the term of that election without further notice or consent. Nothing in the Natural Gas Market Sharing Act shall be construed to:
1. Prevent any owner from receiving the price agreed upon by contract or to prevent any owner from taking its share of production in kind or separately disposing of its share;
2. Eliminate or otherwise affect the rights and remedies available to any operator or any other owner against any owners, including operators, who either default or fail to pay their proportionate share of the well or operating costs; or
3. Diminish the existing rights of each owner to ultimately receive its share of gas disposed or sold from the well.

Credits

Laws 1983, c. 77, § 2, emerg. eff. May 3, 1983; Laws 1992, c. 190, § 23, eff. Sept. 1, 1992. Renumbered from Title 52, § 542 by Laws 1992, c. 190, § 29.
52 Okl. St. Ann. § 581.6, OK ST T. 52 § 581.6
Current with legislation of the Second Regular Session and First and Second Extraordinary Sessions of the 58th Legislature (2022).
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