POST-FILING NOTICE OF CHANGES IN THE

 REGULATIONS OF THE DEPARTMENT OF NATURAL RESOURCES

On May 4, 2017, the Department of Natural Resources, Division of Oil and Gas adopted regulation changes dealing with net profit share leasing, administrative updates, and exploration incentive credits. The changes affect parts of Chapters 03, 83, and 89 of Title 11 of the Alaska Administrative Code.

• Notification to royalty board under 11 AAC 03.040

• Production tax lease allowance under 11 AAC 83.241

• Reporting and payment requirements under 11 AAC 83.245

• Lessee protests under 11 AAC 83.250

• Formal hearings under 11 AAC 83.255

• Retroactive application of regulations under 11 AAC 83.290

• Exploration incentive credit under 11 AAC 89

  The regulations have been reviewed and approved by the Department of Law, signed and filed by the Lieutenant Governor on July 11, 2017, and will go into effect on August 10, 2017, with certain sections containing retroactivity provisions to January 1, 2017. You may obtain a copy of the filed regulations on the Division’s website at http://dog.dnr.alaska.gov/.

  The regulations will be published in Register 223, October 2017.

  Link to the adoption order signed by the Lieutenant Governor and posted in the Alaska Online Public Notice website: Regulations (Governor's Office) Alaska Administrative Code: Title 11 - Natural Resources - Div. of Oil and Gas: Calculation of Net Profit Share