§1206.106. What records must I keep to support my calculations of value under this subpart?
30 C.F.R. § 1206.106
If you determine the value of your oil under this subpart, you must retain all data relevant to the determination of royalty value.
You must show both of the following:
How you calculated the value that you reported, including all adjustments for location, quality, and transportation.
How you complied with these rules.
You can find recordkeeping requirements in parts 1207 and 1212 of this chapter.
ONRR may review and audit your data, and ONRR will direct you to use a different value if we determine that the reported value is inconsistent with the requirements of this subpart.
Notes, amendments, and revision history
Source
Source: 85 FR 62023, Oct. 1, 2020, unless otherwise noted.
Authority
Authority: 5 U.S.C. 301 et seq., 25 U.S.C. 396, 396a et seq., 398, 398a et seq., 2101 et seq.; 30 U.S.C. 181 et seq., 351 et seq., 1001 et seq., 1701 et seq.; 43 U.S.C. 1301 et seq., 1331 et seq., and 1801 et seq.
Source
Source: 48 FR 35641, Aug. 5, 1983, unless otherwise noted. Redesignated at 75 FR 61069, Oct. 4, 2010.