For oil and gas, or gas only leases, with rental increases during the primary term, an application for a rental reduction determination under the terms of a lease agreement must be received at least 90 days before the lease anniversary date where the rental rate increases above $20 per acre. A rental reduction determination application must be made on the form required by the department.

(Eff. 12/26/2019, Register 232)

Authority: AS 38.05.020, AS 38.05.035, AS 38.05.180