A. No division order or other contract relating to the sale or purchase of production from a separately owned tract shall be terminated by the order providing for unit operations, but shall remain in force and apply to oil and gas allocated to such tract until terminated in accordance with the provisions thereof.

Terms Used In New Mexico Statutes 70-7-16

  • Contract: A legal written agreement that becomes binding when signed.

B. For purposes of this section, “division order” shall mean a contract of sale to the purchaser of oil and gas.

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