Reactivated Well Royalty Exemption Regulation (Alta Reg. 352/92).

The present Regulation lays down provisions relating to the exemption of royalties for reactivated wells. The Regulation contains at the outset a definition clause relating to various terms employed therein, such as “Board”, “eligible oil”, “exclude production”, “finished drilling date”, “ineligible well”, “oil sands well”, “reactivated well”, “royal exemption”. Section 3 establishes that eligible oil obtained from a reactivated well is exempt from the royalty payable under: a) the Petroleum Royalty Regulation (Alta. Reg. 248/90), and b) the Oil Sands Royalty Regulation, 1984 (Alta. Reg. 166/84). The royalty exemption for eligible oil obtained from a reactivated well only applies to the first 8000 m3 of eligible oil obtained from that well. The text consists of 10 sections.