Home Table of Contents

§ 2154. Bid Factor.

2 CA ADC § 2154Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 2. Administration
Division 3. State Property Operations
Chapter 1. State Lands Commission (Refs & Annos)
Article 3.5. Disposal of Royalty Oil, Gas or Other Hydrocarbons
2 CCR § 2154
§ 2154. Bid Factor.
Currentness
The Commission shall select for each sales contract, prior to offering royalty oil for bid, one of the bid factors listed below:
(a) $__________ per barrel plus the base price.
(b) __________% plus 100% of the base price.
(c) $__________ per barrel, provided that the purchaser shall at all times pay the bid price or the base price plus a specified percent of the base price as determined by the Commission, whichever is higher.
(d) $__________ bonus plus the base price.
(e) $__________ per barrel for a specified gravity with a gravity differential schedule as specified in advance by the Commission, provided that the purchaser shall at all times pay the bid price or the base price plus a specified percent of the base price as determined by the Commission, whichever is higher.
The Commission may, in offering a sales contract, require a minimum bid.
This database is current through 4/12/24 Register 2024, No. 15.
Cal. Admin. Code tit. 2, § 2154, 2 CA ADC § 2154
End of Document