An Appraisal of Alberta's New Prorationing Scheme
AbstractAlberta's new prorationing scheme was released by the Oil and Gas Conservation Board in July of 1964, and will be fully implemented on the 1st day of May, 1969. This article discusses the evolution and implementation of the proration concept, explores the necessity for proration and analyzes the principles upon which a sound proration scheme must be based. The author compares the new proration plan with the Board's former plan and concludes that the new plan is a novel approach to proration which, upon full implementation, may not entirely fulfil the prime functions of a proration scheme, which is the prevention of waste and the protection of correlative rights.
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