522.118 - Applicability; alteration of previous agreement prohibited. - Nevada Statutes

522.118  Applicability; alteration of previous agreement prohibited.

      1.  The provisions of NRS 522.115 govern the relationship between the parties to an oil and gas lease, or other agreement, concerning the determination and reporting of royalties, overriding royalties, working interests or other nonworking interests from the sale of the production from an oil or gas well located in this state, unless otherwise specifically provided within such a lease or other agreement that has been reduced to writing and executed by all of the affected parties.

      2.  A division order may not alter or amend the terms of a previously executed oil or gas lease or other written agreement. A division order that purports to alter or amend the terms of such a lease or other agreement is invalid to the extent of the alteration or amendment and the terms of the oil or gas lease or other written agreement govern.

      (Added to NRS by 1991, 961)