Cal. Code Regs. Tit. 2, § 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.
Notes
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