Section 43-02-10-03 - [Effective until 4/1/2024] Commission certification of secondary recovery projectUpon the filing of an application for certification of a qualifying secondary recovery project, the commission shall promptly set a date for hearing. In determining whether a secondary recovery project shall be certified as a "qualifying secondary recovery project", the commission shall determine:
1. The amount of crude oil which would have been recovered from the unit source of supply if the secondary recovery project had not been commenced; 2. Whether, for the purposes of a tax reduction, the secondary recovery project has achieved for six consecutive months an average production level of at least twenty-five percent above the amount of production which would have been recovered from the unit source of supply (as determined in subsection 1) if the secondary recovery project had not been commenced; and 3. Whether, for the purposes of a tax exemption and subsequent thereto the tax reduction, there has been incremental production. N.D. Admin Code 43-02-10-03
General Authority: NDCC 38-08-04
Law Implemented: NDCC 38-08-04, 57-51.1-03