§ 57-221 — Oil and gas leases; pooling of acreage authorized; allocation of production

Such governing boards are respectively authorized in their discretion to enter into appropriate agreements for the purpose of unit or cooperative exploration, development, and operation of acreage, or any part of the acreage, covered by leases granted pursuant hereto with other acreage for the production of oil and gas. Such agreements shall provide for the allocation of production on a proportionate acreage or other agreed equitable basis.

Legislative History

Source: Laws 1943, c. 163, § 4, p. 579; R.S.1943, § 57-221; Laws 1961, c. 276, § 1, p. 810. Annotations: Cities may enter into agreements for pooling of acreage under oil and gas lease. Belgum v. City of Kimball, 163 Neb. 774, 81 N.W.2d 205 (1957).