11 AAC 83.1000. Cook Inlet discovery royalty

A lessee that drills a well making a discovery of oil or gas in a previously undiscovered pool in the Cook Inlet sedimentary basin and complies with the requirements of 11 AAC 83.1000 - 11 AAC 83.1049 shall pay a royalty of five percent on all production from that pool produced from or allocated to the discovery lease for 10 years following the date of discovery. If the lessee discovers more than one pool in the discovery well, the commissioner will grant a discovery royalty to each pool that qualifies under 11 AAC 83.1000 - 11 AAC 83.1049.

History: Eff. 2/21/98, Register 145

Authority: AS 38.05.020

AS 38.05.134

AS 38.05.135

AS 38.05.145

AS 38.05.180 (f)

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