27-502 - Arizona Statutes

27-502. Declaration of policy A. It is the public policy of the state to: 1. Conserve the natural resources of oil and gas and products thereof. 2. Prevent waste of oil and gas resources. 3. Provide for protection and adjustment of correlative rights of owners of land wherein the natural resources lie and of owners and producers of oil and gas resources and products thereof, and of others interested therein. 4. Encourage development of natural resources of oil and gas and their products. 5. Encourage continuous and economic supply thereof and demand therefor. 6. Safeguard the health, property and public welfare of citizens of the state and other interested persons. 7. Promote all purposes indicated by the provisions of this article. B. This article shall be administered by the oil and gas conservation commission. C. The legislature finds and declares that oil and gas in commercial quantities have now been discovered and are being produced within this state.