Correlative rights definition

Correlative rights means the opportunity of each owner in a pool to produce his just and equitable share of the oil and gas in the pool without waste.

Correlative rights means the reasonable opportunity to every person entitled thereto to recover and receive the oil and gas in and under the person's tract or tracts, or the equivalent thereof, without having to drill unnecessary wells or incur other unnecessary expense.

Correlative rights means the reasonable opportunity of each person entitled thereto to recover and receive or receive, without waste, the oil and gas in and under or produced from a tract or tracts in which the person owns or controls an interest, or proceeds thereof;

Examples of Correlative rights in a sentence

• Correlative rights of dominant and servient owners in right-of-way for pipeline, 28 A.L.R.2d 626.

• Issue: Correlative rights of mineral owners within a large unit in which mineral interests have been pooled may be harmed if the operator fails to timely and prudently develop the unit.

• Owners are required to issue objection based on the following three issues: • The notice did not comply with the information requirements of subsection A; • Technical objection that either waste will be caused; • Correlative rights will be adversely affected; or • The operator is not an “owner” as defined by the Act.

• Correlative rights claims, as a matter of law, should be accepted for filing in the claims registry under the 1997 opening.

• Correlative rights can be described as the “reciprocal rights and duties of the owners in a common source of supply” to ensure that each owner receives their fair share of the common resource.

More Definitions of Correlative rights

Correlative rights means the opportunity afforded, as far as it is practicable to do so, to the owner of each property in a pool to produce without waste the owner’s just and equitable share of the oil or gas in the pool, being an amount, so far as can be practically determined, and so far as can be practicably obtained without waste, substantially in the proportion that the quantity of recoverable oil or gas under the property bears to the total recoverable oil or gas in the pool, and for the purpose to use the owner’s just and equitable share of the reservoir energy.

Correlative rights means the opportunity of each owner in a pool to produce his

Correlative rights means that each owner and producer in a common pool or source of supply of oil and gas shall have an equal opportunity to obtain and produce his just and equitable share of the oil and gas underlying such pool or source of supply.

Correlative rights means the reasonable opportunity of each person entitled thereto

Correlative rights means the reasonable opportunity of each person entitled thereto to recover and receive without waste the oil and gas in and under his tract or tracts, or the equivalent thereof; and

Correlative rights means the opportunity of each owner in a pool to produce the

Correlative rights means the reasonable opportunity