102.082 – AUTOMATIC DISSOLUTION. A unit is automatically
Texas Natural Resources Code § 102.082
Summary
This law outlines the conditions under which a unit is automatically dissolved in Texas. It affects operators and stakeholders in natural resource units, specifying timelines for dissolution based on production activities or the completion of dry holes.
Dissolution occurs after two years of inactivity.
Units dissolve six months after a dry hole completion.
Units also dissolve six months after production ceases.
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In simple terms: Learn about Texas's AUTOMATIC DISSOLUTION. A unit is automatically law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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