(765 ILCS 520/7) (from Ch. 96 1/2, par. 4907)
Sec. 7.
If the court shall find that the material averments of the
complaint are true, and that the plaintiffs do in fact own a one-half
interest or more in the right to drill for and remove the oil and gas from
such lands as joint tenants, tenants in common or coparceners, the court
shall enter an order authorizing the plaintiffs to drill for and remove oil
and gas from such lands so as to realize the full value thereof for the
benefit of the parties entitled thereto. The court shall also provide by
order for the disposition by the plaintiffs of the proportionate part of
oil and gas of the defendants to the suit, and provide for the payment and
distribution of the net proceeds thereof to the defendants, as their
respective interests may appear, after deduction of the proportionate costs
of such proceedings and of drilling for and producing, and disposing of,
such oil and gas; and the court may, from time to time, require the
plaintiffs to give bond or other security, to be approved by the court, to
secure such payment to the defendants, or to prevent the attachment of any
oil and gas or mechanics' liens to the interest of the defendants.
(Source: P.A. 79-1365; 79-1366.)
|