Okla. Admin. Code § 165:10-21-101

Current through Vol. 42, No. 4, November 1, 2024

Section 165:10-21-101 - General

(a)Scope. Exemption from the levy of gross production tax on production which results from a secondary and tertiary recovery project shall be determined according to the provisions of this Part, 68 O.S. § 1001(D) and other applicable sections of such statute.

(b)Definitions. "Project start date" means the date on which the injection of liquids, gases, or other matter begins on an enhanced recovery project.

(c)Exemption. For secondary and tertiary recovery projects approved or having an initial project start date on or after July 1, 2022, all production which results from such secondary and tertiary recovery projects is exempt from the gross production tax levied pursuant to 68 O.S. § 1001 for a period not to exceed five (5) years from the initial project start date or for a period ending upon the termination of the secondary and tertiary recovery process, whichever occurs first.

(d)Approval. For new secondary and tertiary recovery projects approved on or after July 1, 2022, by order of the Commission pursuant to OAC 165:10-5-4, such approval constitutes qualification for the exemption.

Okla. Admin. Code § 165:10-21-101

Adopted by Oklahoma Register, Volume 40, Issue 24, September 1, 2023, eff. 10/1/2023