Alaska Administrative Code
Title 11 - Natural Resources
Part 6 - Lands
Chapter 83 - Oil and Gas Leasing
Article 2 - Net Profit Share Leasing
11 AAC 83.226 - Sales price
Universal Citation: 11 AK Admin Code 83.226
Current through August 30, 2024
(a) Sales price under this chapter for the first bona fide, arm's length sales to a third party is the cash value of the full consideration given in receipt for the lessee's oil or gas sold.
(b) Sales price under this chapter for all transactions other than those set forth in (a) of this section is the greater of
(1) the cash value of the full
consideration given in receipt for the lessee's oil or gas used, exchanged, or
otherwise transferred to another party; or
(2) the sales price attributable to that
transaction entered on a lessee's books in accordance with the generally
accepted accounting principles, consistently applied.
Authority:AS 38.05.020
AS 38.05.180
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