§1206.64. What records must I keep to support my calculations of value under this subpart?
30 C.F.R. § 1206.64
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:
How you calculated the value that you reported, including all adjustments for location, quality, and transportation.
How you complied with these rules.
On request, you must make available sales, volume, and transportation data for production that you sold, purchased, or obtained from the field or area. You must make this data available to ONRR, Indian representatives, or other authorized persons.
ONRR, Indian representatives, or other authorized persons may review and audit your data, and ONRR will direct you to use a different value if they determine that the reported value is inconsistent with the requirements of this subpart.
Notes, amendments, and revision history
Source
Source: 80 FR 24805, May 1, 2015, 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.