New Mexico Administrative Code
Title 19 - NATURAL RESOURCES AND WILDLIFE
Chapter 15 - OIL AND GAS
Part 13 - COMPULSORY POOLING
Section 19.15.13.12 - REFUND OF MONEY ADVANCED
Universal Citation: 19 NM Admin Code 19.15.13.12
Current through Register Vol. 35, No. 18, September 24, 2024
If the operator does not commence an infill well proposed pursuant to 19.15.13.10 NMAC within the time provided, including an extension the division allows, it shall refund amounts it received from a pooled party as advance payment of well costs for the well within 10 days after the expiration of the time provided for commencement of drilling, together with interest on the amount received calculated at the rate of bank of America prime plus three percentage points.
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