Louisiana Administrative Code
Title 43 - NATURAL RESOURCES
Part V - Office of Mineral Resources
Chapter 5 - Mineral Resources
Subchapter C - Royalty Crude Oil
Section V-527 - Definitions [Formerly LAC 43:I.927]

Universal Citation: LA Admin Code V-527
Current through Register Vol. 50, No. 9, September 20, 2024

Affiliates-any business concerns affiliated with each other where either directly or indirectly one concern controls or has the power to control the other or a third party controls or has the power to control both.

Contract-a contract for the disposition of state royalty oil.

Lessee-the owner or owners of the working interest under a state lease.

Lessor-the state of Louisiana acting through the State Mineral Board.

Louisiana Refiner-an applicant who is certified by the mineral board.

Refiner-a qualified applicant who contracts for state royalty oil pursuant to the policies and procedures established by the State Mineral Board and these regulations.

Royalty Oil-the state's royalty portion of crude oil or condensate produced from or allocated to state leases.

Seller-the State Mineral Board acting on behalf of the state of Louisiana in a contract to sell royalty oil.

AUTHORITY NOTE: Promulgated in accordance with R.S. 30:143.

Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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