§ 28-65-316 - Oil, gas, and mineral interests -- Agreements for operation and development. - Arkansas Statutes

28-65-316. Oil, gas, and mineral interests -- Agreements for operation and development.

Upon petition of the guardian of the estate and after notice to such persons, if any, as the court may direct, the court may authorize the guardian of the estate of an incapacitated person in behalf of his or her ward to enter into transactions and to execute all instruments necessary or advantageous to the ward's estate in the operation and development of any interest, including leasehold interest, which the ward may own in oil, gas, or minerals, including, but not limited to, unit operating agreements, royalty unitization agreements, royalty pooling agreements, field unitization and repressure agreements, and such other agreements and contracts relative thereto as the court shall find to be for the best interest of the ward.