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Code of Federal Regulations Title 30. Mineral Resources § 30.1206.106 What records must I keep to support my calculations of value under this subpart?

Current as of January 02, 2025 | Updated by Findlaw Staff

If you determine the value of your oil under this subpart, you must retain all data relevant to the determination of royalty value.

(a) You must show both of the following:

(1) How you calculated the value that you reported, including all adjustments for location, quality, and transportation.

(2) How you complied with these rules.

(b) You can find recordkeeping requirements in parts 1207 and 1212 of this chapter.

(c) 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.

 1

 The reference to September 7, 2017, in this paragraph, should be to September 6, 2017, the published effective date of 81 FR 43338, and the corresponding date of the Court vacation.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 30. Mineral Resources § 30.1206.106 What records must I keep to support my calculations of value under this subpart? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-30-mineral-resources/cfr-sect-30-1206-106/

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