11 AAC 03.250. Definitions

Unless the context indicates otherwise, in this chapter

(1) "award" means the preliminary identification of the successful bidder or bidders in a disposal of royalty oil, gas, or associated substances by competitive bid;

(2) "commissioner" means commissioner of the Department of Natural Resources;

(3) "disposal or disposition" includes a sale or exchange, but does not include amendments to existing royalty contracts that do not increase the amount of royalty oil, gas, or associated substances delivered or to be delivered under the contract;

(4) "general bidder" means all competitive bidders except those bidders entitled to a priority of any kind;

(5) "present or projected intrastate domestic and industrial needs" means in-state domestic and industrial demand at a competitive market price for the royalty oil, gas, or associated substances. "Competitive market price" includes, but is not limited to, a price established by competitive bid.

(6) For purposes of this chapter, "oil", "gas" and "associated substances" have the meanings set out in 11 AAC 88.185.

History: Eff. 12/12/80, Register 76; am 8/8/84, Register 91; am 5/22/93, Register 126

Authority: AS 38.05.020

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