30 CFR 1206.106
§ 1206.106 What records must I keep to support my calculations of value under this subpart?
United States · 30 CFR — Mineral Resources · Status: effective
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- Citation
- 30 CFR 1206.106, § 1206.106 What records must I keep to support my calculations of value under this subpart?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/137705
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.