It is the purpose of this chapter to facilitate the wise development of Alaska’s oil and gas royalty interests by providing means and procedures for sales, exchanges, or other disposition of those interests in ways calculated to promote private economic growth consistent with applicable environmental standards and public fiscal stability, and in accordance with AS […]
There is established in the Department of Natural Resources the Alaska Royalty Oil and Gas Development Advisory Board.
(a) The board consists of the commissioner of commerce, community, and economic development; the commissioner of revenue; the commissioner of natural resources, who is a nonvoting member; and five public members. (b) The public members shall be appointed by the governor to serve at the pleasure of the governor for five-year staggered terms and confirmed […]
Members of the board are in the exempt service under AS 39.25.110 and shall receive per diem and travel allowances as provided by law for other boards and commissions.
(a) The board shall prescribe its own rules of procedure. It shall meet at a time and place determined by the chairman, and at other times and places as the chairman, or a majority of the board members, considers necessary. A quorum is a majority of the voting members of the board. The votes of […]
(a) The board shall (1) in accordance with the criteria set out in AS 38.06.070, develop a plan for the wise development of the state’s oil and gas royalty interests; the plan of development shall be consistent with (A) growth of the private sector of the economy; (B) environmental standards required by law; and (C) […]
(a) If legislative approval is required by AS 38.06.055, a sale, exchange, encumbrance, or other disposition of oil or gas or of the rights or waiver of the rights to receive future production of royalty oil or gas may not be made by the commissioner of natural resources under AS 38.05.183 without prior review of […]
(a) In addition to the recommendation by the board required under AS 38.06.050, the commissioner of natural resources may not enter into a sale, exchange, or other disposition of oil or gas or of the rights or waiver of the rights to receive future production of royalty oil or gas under AS 38.05.183 without the […]
Notwithstanding AS 40.25.110 – 40.25.120, the board may provide by regulation for the confidentiality of those documents and records in its possession or control which contain confidential business or marketing information the protection of which is essential to the person who has submitted them to the board or in the judgment of the board is […]
(a) In the exercise of its powers under AS 38.06.040(a) and 38.06.050 the board shall consider (1) the revenue needs and projected fiscal condition of the state; (2) the existence and extent of present and projected local and regional needs for oil and gas products and by-products, the effect of state or federal commodity allocation […]
In this chapter, (1) “board” means the Alaska Royalty Oil and Gas Development Advisory Board; (2) “state lease” means an oil and gas lease or gas only lease on state land.
