Sec. 3. (a) The commission shall regulate the spacing of wells for oil and gas purposes. A rule adopted under this section may provide for the following:

(1) A minimum distance between a well and the property line of an adjacent landowner if the adjacent landowner does not provide a written waiver to the distance requirement.

(2) A minimum acreage requirement for each well.

(3) That wells may be drilled on the same tract to different formations if an acreage requirement established under subdivision (2) is satisfied for wells drilled to the same formation.

     (b) A rule adopted under this section must consider regional and geological characteristics and factors conducive to the most efficient and economical recovery of oil and gas.

[Pre-1995 Recodification Citation: 13-8-4-4.]

As added by P.L.1-1995, SEC.30.