§ 30-11-304 — Agreements to pool lands for production purposes

When
deemed by the board of county commissioners to be in the best interest of the
county, any county acting by its board of county commissioners may enter into any
unit agreement providing for the pooling or consolidation of acreage covered by
any oil and gas lease executed by such county with other acreage for oil and gas
exploration, development, and production purposes and providing for the
apportionment or allocation of royalties among the separate tracts of land included
in such unit agreement on an acreage or other equitable basis, and may by such
agreement, with the consent of its lessee, change any and all of the provisions of
any lease issued by such county including the term of years for which such lease
was originally granted in order to conform such lease to the terms and provisions of
such unit agreement and to facilitate the efficient and economic production of oil
and gas from the unit lands.

Legislative History

Source: L. 49: p. 327, � 3. CSA: C. 45, � 25(3). CRS 53: � 36-11-3. C.R.S. 1963: � 36-11-3.