Arkansas Code Title 15, Subtitle 6, Chapter 72, Subchapter 7 - Exploration

• § 15-72-701 - Definitions.
  As used in this subchapter, unless the context otherwise requires: (1) "Commercial oil pool" means a pool which appears to contain sufficient quantities of...
• § 15-72-702 - Bonus for Discovery of Oil Pool.
  Any person who discovers a commercial oil pool in this state not heretofore discovered shall be entitled to the bonus herein provided upon compliance...
• § 15-72-703 - Application for Permit to Drill Discovery Well.
  To become entitled to the benefits provided in this subchapter, a person shall make application therefor to the Oil and Gas Commission at or...
• § 15-72-704 - Approval of Application.
  The application shall be approved by the Oil and Gas Commission if it determines from the application and such investigation as it may deem...
• § 15-72-705 - Certificate of Discovery of Commercial Pool.
  Upon receipt by the commission, within one (1) year from the date of the approval of the application, of evidence from which the Oil...
• § 15-72-706 - Credit Against Severance Tax.
  From and after the effective date of the certificate, the person shall be entitled to receive from the Revenue Division of the Department of...

Last modified: November 15, 2016