Whenever the Commission, after notice and hearing, finds that waste as defined in the Act, is occurring in any oil or gas field or pool and that the production of oil or gas from such field or pool should be limited to prevent waste, then the Commission shall issue an order limiting production from such field or pool and specify rules applicable thereto for the allocation or distribution of allowable production therefrom as provided for in the Act.
267 Neb. Admin. Code, ch. 3, § 033