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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.
History: Eff. 11/9/79, Register 72
Authority: AS 38.05.020
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Last modified 7/05/2006