California Public Resources Code

§ 3655

PRC § 3655Div. 3 · Ch. 3.5 · Art. 3

Statute text

The three-fourths interests referred to in Sections 3642, 3649, and 3651 shall be determined as follows:

(a)A total value, composed of the combined value of all of the primary tract assignment and secondary tract assignment, shall be assigned to all of the tracts of land which are the subject of the unit agreement or the proposed unit agreement.

(b)The pro rata interest of each working interest owner shall be equal to a fraction, the numerator of which shall be the total value of the primary tract assignment and secondary tract assignment of the tract or tracts in which he has a working interest, in accordance with his fractional share of such interest, if any, and the denominator of which shall be the value determined under subdivision (a).

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Legislative history

Added by Stats. 1971, Ch. 1673.