55-1620. Oil and gas payments to interest owners; information required to be included.
55-1620
55-1620. Oil and gas payments to interest owners; information required tobe included.When a payment is made for proceeds attributable to oil or gasproduction, thepayment shall be accompanied bythe following information, or the followinginformation shall be calculable from the information providedwith the payment:
(a) The lease, property, or well name or any lease, property, or wellidentification number used to identify the lease, or well;
(b) the month and year during which the sale occurred for which payment isbeing made;
(c) the total volume of oil, attributable to such payment, measured inbarrels and the total volume of either wet or dry gas, attributable to suchpayment, measured in thousand cubic feet;
(d) the price per barrel of oil or thousand cubic feet of gas sold;
(e) total amount of state severance and production taxes;
(f) payee's interest in the sale expressed as a decimal;
(g) payee's share of the sale before any deductions or adjustments;
(h) payee's share of the sale after deductions or adjustments;
(i) an address and telephone number from which additional information may beobtained and any questions answered.
History: L. 1997, ch. 136, § 1; Jan. 1, 1998.