Section 38.05.725 - Plan of development and operations; unitization(a) The commissioner shall require the filing and approval of a plan of development and operation for a carbon storage lease.(b) To prevent or assist in preventing waste, and to protect the correlative rights of persons owning interest in the tracts of land affected, with the approval of the commissioner, a group of lessees may validly integrate the lessees' interests to provide for the unitized management, development, and operation of the tracts of land as a unit. The commissioner may suspend or modify a development plan approved under (a) of this section in accordance with the unit agreement. In this subsection, "unit agreement" means an agreement by lessees with an interest in the unit, the state, and any other carbon storage lessor with an interest in the unit.(c) A lease operated under a plan approved or prescribed by the commissioner under this section is excepted from determining holdings or control under AS 38.05.140. The provisions of this section concerning cooperative or unit plans are in addition to and do not affect AS 31.05 and AS 41.06.Added by SLA 2024, ch. 23,sec. 21, eff. 10/29/2024.