Division schedules form change workshop

The Alaska Department of Natural Resources’ Division of Oil and Gas is proposing changes to regulations for accounting and reporting of expenses and revenues for net profit share oil and gas leases, or NPSL.

Division Director Bill Barron said in an Aug. 29 notice that some of the changes are based on 2013 legislative changes and other changes are “intended to clarify NPSL accounting, address retroactive redeterminations, update requirements related to forms and instructions, and to propose charging an administrative fee for late or incomplete NPSL filings.”

Proposed regulation changes and a proposed amended form are available at the division’s website at: http://dog.dnr.alaska.gov/AboutUs/PublicNotices.htm#pnother.

Updates to the production tax form are related to the proposed regulation changes.

The division will hold a public workshop Sept. 13 on proposed changes to the form from 9 to 11 a.m. in room 1270 at the Atwood Building in Anchorage. The division said the workshop may be extended for up to one hour if additional time is needed to clarify information presented.

No public comments will be taken at the workshop. Public comments on the proposed regulation changes, “including the potential costs to private persons of complying with the proposed changes,” must be received no later than 5 p.m. Sept. 30.

—Petroleum News