Cal. Code Regs. Tit. 2, § 2153 - Selection of Royalty Oil
The Commission shall, in advance, select the lease or leases from which royalty oil will be taken in kind and the particular hydrocarbons to be taken, determine the increments, if any, in which such oil will be sold, and adopt the bid-form, notice inviting bids, bid-proposal, and the sales contract. The proposal shall remain on file in the Commissions' Offices and shall contain the notice, bid-form, contract, copies of the lease or leases involved, and pertinent production and lease data.
Notes
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