As used in this article 61, unless the context otherwise requires:

1. (1) Barrel means forty-two United States gallons at sixty degrees Fahrenheit at atmospheric pressure.
2. (2) Commission means the energy and carbon management commission created in section 34-60-104.3 (1).
3. (3) Executive director means the executive director of the department of revenue.
4. (4) Fund means the climate resilient wildlife and land cash fund created in section 33-61-103 (3)(a).
5. (5) Gas has the meaning set forth in section 34-60-103 and includes natural gas liquids.
6. (6) Gas spot price means the Henry Hub natural gas spot price as reported by the United States energy information administration or a successor price index selected by the commission.
7. (7) MCF means one thousand cubic feet.
8. (8) MMBTU means one million British thermal units.
9. (9) Oil has the meaning set forth in section 34-60-103.
10. (10) Oil spot price means the west Texas intermediate spot price as reported by the United States energy information administration or a successor price index selected by the commission.
11. (11) Producer has the meaning set forth in section 34-60-103.

12. (12) Production fee amounts means:

    1. (a) For oil, if the average oil spot price for the calendar quarter in which the fee is being assessed is:

       1. (I) Forty dollars per barrel of oil or less, an amount determined by the division, with a maximum amount of one cent per barrel of oil;
       2. (II) Greater than forty dollars but less than or equal to fifty dollars per barrel of oil, an amount determined by the division, with a maximum amount of three cents per barrel of oil;
       3. (III) Greater than fifty dollars but less than or equal to sixty dollars per barrel of oil, an amount determined by the division, with a maximum amount of six cents per barrel of oil; and
       4. (IV) Greater than sixty dollars per barrel of oil, an amount determined by the division, which amount must only increase at a maximum rate of three cents for each ten dollars, or fraction of ten dollars, by which the average oil spot price exceeds sixty dollars per barrel of oil; and

    2. (b) For gas, if the average gas spot price for the calendar quarter in which the fee is being assessed is:

       1. (I) One dollar and forty cents per MMBTU of gas or less, an amount determined by the division, with a maximum amount of 0.04 cents per MCF of gas;
       2. (II) Greater than one dollar and forty cents but less than or equal to one dollar and eighty cents per MMBTU of gas, an amount determined by the division, with a maximum amount of 0.16 cents per MCF of gas;
       3. (III) Greater than one dollar and eighty cents but less than or equal to two dollars and twenty cents per MMBTU of gas, an amount determined by the division, with a maximum amount of 0.28 cents per MCF of gas; and
       4. (IV) Greater than two dollars and twenty cents per MMBTU of gas, an amount determined by the division, which amount must only increase at a maximum rate of 0.12 cents for each forty cents, or fraction of forty cents, by which the average gas spot price exceeds two dollars and twenty cents per MMBTU of gas.
13. (13) Production fee for clean transit or production fees for clean transit means the production fee for clean transit imposed by the clean transit enterprise pursuant to section 43-4-1204.
14. (14) Production fee for wildlife and land remediation, production fees for wildlife and land remediation, or fee means the production fee for wildlife and land remediation imposed by the division pursuant to section 33-61-103 (1)(a).

Source: L. 2024: Entire article added, (SB 24-230), ch. 184, p. 1017, § 6, effective May 16.