South Carolina § 48-43-360 Submission of agreement for unit or cooperative development or operation to department.

South Carolina Statutes

§ 48-43-360 — Submission of agreement for unit or cooperative development or operation to department.

South Carolina § 48-43-360

Title 48ENVIRONMENTAL PROTECTION AND CONSERVATION

Ch. 43OIL AND GAS EXPLORATION, DRILLING, TRANSPORTATION, AND PRODUCTION

This text of South Carolina § 48-43-360 (Submission of agreement for unit or cooperative development or operation to department.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 48-43-360 (2026).

Text

An agreement for the unit or cooperative development or operation of a field, pool or part thereof may be submitted to the department for approval as being in the public interest or reasonably necessary to prevent waste or protect correlative rights. Such approval shall constitute a complete defense to any suit charging violation of any statute of the State relating to trusts and monopolies on account thereof or on account of operations conducted pursuant thereto. The failure to submit such an agreement to the department for approval shall not for that reason imply or constitute evidence that the agreement or operations conducted pursuant thereto are in violation of laws relating to trusts and monopolies.

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An agreement for the unit or cooperative development or operation of a field, pool or part thereof may be submitted to the department for approval as being in the public interest or reasonably necessary to prevent waste or protect correlative rights. Such approval shall constitute a complete defense to any suit charging violation of any statute of the State relating to trusts and monopolies on account thereof or on account of operations conducted pursuant thereto. The failure to submit such an agreement to the department for approval shall not for that reason imply or constitute evidence that the agreement or operations conducted pursuant thereto are in violation of laws relating to trusts and monopolies.