Definition(s)
Correlative Rights
The words POOL, PERSON, OWNER, PRODUCER, OIL, GAS, WASTE, CORRELATIVE RIGHTS and COMMON SOURCE OF SUPPLY are defined by the Act, and said definitions are hereby adopted in these Rules and Regulations. From C.R.S. 34-60-103 (2012): “Correlative rights” means that each owner and producer in a common pool or source of supply of oil and gas shall have an equal opportunity to obtain and produce his just and equitable share of the oil and gas underlying such pool or source of supply.
Source: Oil and Gas Conservation Commission, Practice and Procedure, Code of Colorado Regulations, 2 CCR 404-1, February 2013. Regulations
Correlative Rights
“Correlative rights” means the opportunity afforded, as far as it is practicable to do so, to the owner of each property in a pool to produce without waste the owner’s just and equitable share of the oil or gas in the pool, being an amount, so far as can be practically determined, and so far as can be practicably obtained without waste, substantially in the proportion that the quantity of recoverable oil or gas under the property bears to the total recoverable oil or gas in the pool, and for the purpose to use the owner’s just and equitable share of the reservoir energy.
Source: Oil and Gas, New Mexico Administrative Code Title 19, Chapter 15, January 2013. Regulations
Correlative Rights
Correlative rights when used with respect to lessees of adjacent leases, means the right of each lessee to be afforded an equal opportunity to explore for, develop, and produce, without waste, minerals from a common source.
Source: Oil and Gas and Sulphur Operations in the Outer Continental Shelf, 30 CFR 250 (2013). Regulations