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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 52. OIL AND GAS

  § 52-581.6. Election to market share - Effect.  

Latest version.

  • 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.

Added by Laws 1983, c. 77, § 2, emerg. eff. May 3, 1983.  Amended by  Laws 1992, c. 190, § 23, eff. Sept. 1, 1992.  Renumbered from § 542 of this title by Laws 1992, c. 190, § 29.