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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 11. Natural Resources. |
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Part 11.1. Office of the Commissioner. |
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Chapter 11.83. Oil and Gas Leasing. |
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Article 11.83.1. General Oil and Gas Lease Provisions. |
Section 11.83.201. Purpose.
Latest version.
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11 AAC 83.201 - 11 AAC 83.295 establish procedures to be used by the lessee in calculating net profit share payments due the state for the production of oil and gas from any state net profit share lease (NPSL) issued by the department. The purpose of 11 AAC 83.201 - 11 AAC 83.295 is to allow a lessee to recover development costs, with interest, and operating costs, for each NPSL from production revenue for each NPSL before any net profit share payments become due the state from the lessee.
Authorities
38.05.020;38.05.180