California Public Resources Code

§ 3644

PRC § 3644Div. 3 · Ch. 3.5 · Art. 3

Statute text

A tract of land’s fair, equitable, and reasonable share of the unit production shall be measured by the value of such tract for oil and gas purposes and its contributing value to the unit in relation to like values of other tracts in the unit area, taking into account, among other things, the following:

(a)The primary tract value based upon the projected future value of hydrocarbon substances that would be produced by primary means from such tract after the date of unitization, if no secondary recovery operation were undertaken.

(b)The secondary tract value based upon consideration of the following factors:

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Legislative history

Added by Stats. 1971, Ch. 1673.