Section 11 AAC 83.110 - Rental(a) Rental payments are due in accordance with the rental provisions of the lease.(b) The department will credit an overpayment of rent to the next year's rental.(c) All oil and gas leases are conditioned upon payment of the annual rental in advance on or before the beginning of each lease year before completion of a well capable of producing oil and gas in paying quantities on these leased lands. (d) After a well has been plugged and abandoned and there is no other well on the lease capable of production, the commissioner may allow the rental rate effective during the year of the abandonment to be the rate for the remainder of the term of the lease, or, if production is achieved from a subsequent well, until the royalty or net profit share to the state exceeds the rental for that year.Eff. 9/5/74, Register 51; am 7/22/79, Register 71; am 12/26/2019, Register 232, January 2020Authority:AS 38.05.020
AS 38.05.145
AS 38.05.180