11 AAC 04.199. Definitions

In this chapter, unless the context clearly requires a different meaning:

(1) "accounting unit" means a unit, participating area, or lease which constitutes a single production, financial management and reporting entity;

(2) "commissioner" means the commissioner of the Department of Natural Resources or the commissioner's designee;

(3) "division" means the state division of oil and gas in the Department of Natural Resources;

(4) "lessee" means an individual, a partnership, or a corporation, that holds a working interest in a lease;

(5) "overpayment" means an amount greater than the amount due;

(6) "ACH transaction" means an electronic transaction by means of the Automated Clearing House (ACH) network for the interbank clearing of electronic payments for participating depository financial institutions;

(7) "royalty report" means a royalty operator report (O1), royalty valuation report (A1), and royalty payment summary report (S1), and any supplemental reports required for an accounting unit, as required in the department's State of Alaska Oil and Gas Royalty Reporting Instructions, adopted by reference in 11 AAC 04.040(a) .

History: Eff. 2/21/98, Register 145; am 12/27/2002, Register 164

Authority: AS 38.05.020

AS 38.05.180

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