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§ 2154. Bid Factor.

2 CA ADC § 2154BARCLAYS OFFICIAL CALIFORNIA CODE OF REGULATIONS

Barclays Official California Code of Regulations Currentness
Title 2. Administration
Division 3. State Property Operations
Chapter 1. State Lands Commission
Article 3.5. Disposal of Royalty Oil, Gas or Other Hydrocarbons (Refs & Annos)
2 CCR § 2154
§ 2154. Bid Factor.
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 1/7/22 Register 2022, No. 1
2 CCR § 2154, 2 CA ADC § 2154
End of Document