Section 45-9-31 - Order of board pooling all interests in spacing unit--Application by interested person--Notice and hearing--Terms and conditions. - South Dakota Statutes

45-9-31. Order of board pooling all interests in spacing unit--Application by interested person--Notice and hearing--Terms and conditions. In the absence of voluntary pooling the Board of Minerals and Environment, upon the application of any interested person, shall enter an order pooling all interests in the spacing unit for the development and operation thereof, and for the sharing of production therefrom. Each such pooling order shall be made after notice and hearing, and shall be upon terms and conditions that are just and reasonable, and that afford to the owner of each tract or interest in the spacing unit the opportunity to recover or receive without unnecessary expense, his just and equitable share.

Source: SL 1953, ch 220, § 1; SDC Supp 1960, § 42.0706 (3) (o) (5); SDC Supp 1960, § 42.0709 (1) as enacted by SL 1961, ch 211, § 1.