Oklahoma § 52-570.12 - Information to be included with payments to interest

§ 52-570.12. Information to be included with payments to interest

owner - Calculation of revenue decimals - Measurement of gas volume

reported – Electronic dissemination.

A. The following information for each property and month of

sale shall be included with each payment made to an interest owner

from the sale of oil or gas:

1. Lease or well identification;

2. Month and year of sales included in the payment;

3. Total barrels or MCF attributed to such payment;

4. Price per barrel or MCF, including British Thermal Unit

adjustment of gas sold;

5. Total amount attributed to such payment of severance and

other production taxes, with the exception of windfall profit tax;

6. Net value of total sales attributed to such payment after

taxes are deducted;

7. Owner's interest, expressed as a decimal, in production from

the property;

8. Owner's share of the total value of sales attributed to such

payment prior to any deductions;

9. Owner's share of the sales value attributed to such payment

less owner's share of the production and severance taxes; and

Oklahoma Statutes - Title 52. Oil and Gas

10. A specific listing of the amount and purpose of any other

deductions from the proceeds attributed to such payment due to the

owner upon request by the owner.

B. For purposes of the Production Revenue Standards Act:

1. All revenue decimals shall be calculated to not less than

the nearest sixth decimal place, which is the nearest part in one

million; and

2. Gas volumes reported to any owner shall be measured as

required by Section 474 of this title.

C. All information required to be included under subsection A

of this section may be provided or made available to an owner by

electronic means including but not limited to electronic mail or a

website or database accessible to the owner, upon the mutual written

consent of the information provider and the owner.

Added by Laws 1992, c. 190, § 12, eff. Sept. 1, 1992. Amended by

Laws 2010, c. 152, § 2, emerg. eff. April 20, 2010.