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An application to register an interest or participation in an oil or gas lease must contain the following:
(1) a description of the properties involved and copies of all conveyances, assignments, leases, subleases, or other agreements relating to those properties together with an opinion of counsel or title policy indicating that applicant has title to those properties;
(2) a statement of the area of interest to the applicant, a description of the plan of exploration including, if available, anticipated drilling depth, each horizon in which hydrocarbon substances are expected and the nature of those hydrocarbons, the estimated costs of drilling and completing each well proposed to be drilled, and the availability of a market for hydrocarbons discovered;
(3) in the case of drilling programs other than programs for wildcat drilling, a geological report and appraisal, that are prepared by a registered engineer or a professional geologist, and that indicate the proposed method of development and production, a statement of the method used in preparing that report, together with supporting geological and engineering data, a table setting forth the estimated future production and the present value of that production, together with a statement of each factor used in making that estimate, and an estimate of expenses to be incurred in connection with development and production of minerals as proposed in that geological report;
(4) a statement in tabular form, for all productive properties, of
(A) net production of oil and gas to the issuer's interest from each of the properties by years for the past four years before the latest year, and by months for the latest year; and
(B) the number of net producing wells owned by the issuer that contributed to the production during each of the time periods specified in (A) of this paragraph.
History: Eff. 2/20/72, Register 41; am 4/19/2000, Register 154
Authority: AS 45.55.100
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Last modified 7/05/2006