As soon as practicable, the production of oil and gas in all common sources of supply will be controlled or regulated as the facts may warrant, as provided for in Chapter 256 of Laws of 1948. The Board on its own motion may, or at the request of any interested party shall, call hearings to determine the maximum efficient rate at which the several pools in the state can produce oil and gas without waste.
26 Miss. Code. R. 2-1.32