Section 37B-1-2 - Declaration of public policy; legislative findingsIt is declared to be the public policy of this state and in the public interest to:
(1) Foster, encourage and promote exploration for and development, production, and conservation of oil, natural gas and their constituents;(2) Prohibit waste of oil, natural gas, and their constituents and unnecessary surface loss of oil, natural gas, and their constituents;(3) Encourage the maximum recovery of oil, natural gas, and their constituents;(4) Safeguard, protect and enforce the correlative rights of operators and mineral owners in that each such operator and mineral owner may obtain his or her just and equitable share of production;(5) Safeguard, protect and enforce the integrity of the passive royalty owner's interest in his or her minerals.(6) Safeguard, protect and enforce the rights of surface owners; and(7) Protect and enforce the clear provisions of contracts lawfully made.Added by 2018 Acts, ch. 149 (HB 4268), eff. 6/3/2018.