DECISION SUMMARY Sample Clauses

DECISION SUMMARY. On January 20, 2011, ASRC Exploration, LLC (AEL), as the sole Working Interest Owner (WIO), filed the Placer Unit (PLU) application (Application) with the State of Alaska (State), Department of Natural Resources (DNR). Subsequently, on May 24, 2011, AEL submitted an amended Application, reducing the proposed unit acreage from 8,769 acres to 1,480 acres. The State of Alaska, Department of Natural Resources, Division of Oil and Gas (Division) gave notice under 11 AAC 83.311 of the proposed PLU on June 6, 2011. The period for public comment closed effective 4:30 p.m. July 14, 2011. No comments were received. A unit must encompass the minimum area required to include all or part of one or more oil or gas reservoirs, or all or part of one or more potential hydrocarbon accumulations. AEL submitted confidential and public information as part of the Application, which demonstrate that the proposed unit area includes all or part of an oil reservoir. This Approval constitutes the written findings and decision required under 11 AAC 83.303 and is fully appealable. The Division finds that the approval of the PLU promotes conservation of all natural resources, promotes the prevention of economic and physical waste, and provides for the protection of all parties, including the State. AS 31.05.110(a), AS 38.05.180(p), and 11 AAC 83.303. I approve the formation of the PLU in accordance with the criteria under 11 AAC 83.303 and under the terms and conditions of this Decision.
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