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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 11.83.235. Redetermination of volume allocations.
Latest version.
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A retroactive redetermination of the quantity of oil or gas previously allocated to a NPSL or to a NPSL lessee's working interest ownership, including a retroactive redetermination of royalty or overriding royalty volumes, is not an extraordinary production revenue or loss under 11 AAC 83.231. When the quantity of oil or gas previously allocated to a NPSL or to a NPSL lessee's working interest ownership is retroactively redetermined due to a retroactive change approved by the commissioner in volumetric tract production allocation factors or due to the correction of a volumetric error, all revenues, costs, and expenses previously determined by volumetric tract production allocation factors, including interest on the development account, must be retroactively restated for the development account, the production revenue account, and the net profit payment account in accordance with that quantity redetermination. Expenditures previously allocated to a NPSL on a reasonable basis other than volumetric tract production factors are not required to be restated retroactively.
Authorities
38.05.020;38.05.180