MARATHON OIL v. STATE DEPT. OF NAT. RES.

No. S-13771.

254 P.3d 1078 (2011)

MARATHON OIL COMPANY, Appellant, v. STATE of Alaska, DEPARTMENT OF NATURAL RESOURCES, Appellee.

Supreme Court of Alaska.

June 10, 2011.


Attorney(s) appearing for the Case

Rebecca S. Copeland , Kyle W. Parker , and David J. Mayberry , Crowell & Moring LLP, Anchorage, for Appellant.

Martin T. Schultz , Assistant Attorney General, Anchorage, and Daniel S. Sullivan , Attorney General, Juneau, for Appellee.

Before: CARPENETI, Chief Justice, FABE, WINFREE, and STOWERS, Justices.


OPINION

FABE, Justice.

I. INTRODUCTION

Gas producers that lease land from the State of Alaska must pay royalties calculated on the value of the gas produced from the leased area. This royalty payment can be calculated under one of two methods: (1) "higher of" pricing or (2) contract pricing. "Higher of" pricing is the default. Computing the royalty owed under "higher of" pricing involves sophisticated calculations using market data and the...

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