{"data":{"id":"us-ky/krs-353.250","jurisdiction":"us-ky","citation":"KRS 353.250","heading":"Nature of agreement.","body":"A consolidation agreement, within the provisions of KRS 353.240 to 353.260, is an\nagreement which provides for the consolidation of an oil and gas lease, or some portion\nthereof, with some other oil and gas lease or leases, or portions thereof, so that the oil and\ngas leases or portions thereof embraced in such agreement shall be operated and\ndeveloped for oil and gas purposes as one (1) unit lease, and all royalties which may\naccrue from production on such consolidated area shall be treated as an entirety and shall\nbe divided among and paid to the owners (or their lawful representatives) of the royalties\nin such area upon an acreage basis, so that each shall receive a share of such royalties\ncalculated upon the basis of the ratio between each owner's intere st in royalty and the\nentire interest in the royalties embraced in the consolidated area.","path":["KRS Chapter 353"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33075","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:39Z","sha256":"a0435f1bd3df61da801c8ea6eca81dc6ac4e9c5af28b22d38da07c2f7edd199a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-353.240","next":"us-ky/krs-353.260"},"notice":"GroundRules: Original legal text. Not legal advice."}