Terms Used In Alaska Statutes > Title 31 > Chapter 5 > Article 3 - General Provisions

• and: includes "or" and "or" includes "and". See Alaska Statutes 31.05.170
• commission: means the Alaska Oil and Gas Conservation Commission. See Alaska Statutes 31.05.170
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• field: means a general area which is underlain or appears to be underlain by at least one pool, and includes the underground reservoir containing oil or gas. See Alaska Statutes 31.05.170
• gas: includes all natural gas and all hydrocarbons produced at the wellhead not defined as oil. See Alaska Statutes 31.05.170
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• oil: includes crude petroleum oil and other hydrocarbons regardless of gravity which are produced at the wellhead in liquid form and the liquid hydrocarbons known as distillate or condensate recovered or extracted from gas, other than gas produced in association with oil and commonly known as casinghead gas. See Alaska Statutes 31.05.170
• owner: means the person who has the right to drill into and produce from a pool and to appropriate the oil and gas the person produces from a pool for that person and others. See Alaska Statutes 31.05.170
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: includes a natural person, corporation, association, partnership, receiver, trustee, executor, administrator, guardian, fiduciary or other representative of any kind, and includes a department, agency or instrumentality of the state or a governmental subdivision of the state. See Alaska Statutes 31.05.170
• Plaintiff: The person who files the complaint in a civil lawsuit.
• pool: means an underground reservoir containing, or appearing to contain, a common accumulation of oil or gas. See Alaska Statutes 31.05.170
• property: includes real and personal property. See Alaska Statutes 01.10.060
• state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
• Trustee: A person or institution holding and administering property in trust.
• waste: means , in addition to its ordinary meaning, "physical waste" and includes
  (A) the inefficient, excessive, or improper use of, or unnecessary dissipation of, reservoir energy. See Alaska Statutes 31.05.170