OK HB1824

Amends 52 O.S. 2001, Section 87.1 regarding oil and gas common source of supply, well spacing, and drilling units.

Establishes maximum well spacing unit sizes: 40 acres for shallow oil formations (less than 4,000 feet), 80 acres for medium-depth oil (4,000-9,990 feet), and 640 acres for gas wells plus 10% tolerance.

Requires the Corporation Commission to establish uniform well spacing and drilling units through a hearing process to prevent waste and protect correlative rights of owners.

Clarifies pooling requirements: allows voluntary pooling of separately owned tracts within a unit, and empowers the Commission to require involuntary pooling with fair terms to recover each owner's share of production.

Authorizes horizontally drilled oil wells to have spacing units up to 640 acres like gas wells, and prohibits fiduciary duties on applicants or operators under the spacing statute provisions; effective November 1, 2011.