AK SB209

Makes minimum work commitments mandatory (rather than optional) in all oil and gas and gas-only leases, with penalties for non-compliance.

Requires all bidders and lessees seeking extensions or renewals to submit a plan of development that the commissioner must determine is in the state's best interest before qualifying as a bidder.

Mandates annual commissioner review of each lease to ensure compliance with the development plan and to assess whether lease revisions would maximize state benefit.

Requires the commissioner to submit a report to the legislature before each regular session listing any lessees found out of compliance and actions taken to remedy or terminate leases.

Takes effect July 1, 2013, and applies to proposed lease sales and lease renewals or extensions on or after that date.