Competitive Framework for Alaska: 2012

Old and New Production Summary "New" light oil production (higher than 22 degrees API) would be: ⚫ the higher off: - - New production from programs specifically approved by the administration, and – New production above a pre-determined decline curve for light oil production of 6%. ⚫ production from non-producing leases. Based on these definitions it is easy to apply the differences in the severance features between existing and new production. 86

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