§ 1206.105 - How will ONRR determine the value of my oil for royalty purposes?

§ 1206.105 How will ONRR determine the value of my oil for royalty purposes?

Cross Reference

Link to an amendment published at 86 FR 4654, Jan. 15, 2021.

Cross Reference

This amendment was delayed until Apr. 16, 2021, at 86 FR 9289, Feb. 12, 2021.

Cross Reference

This amendment was further delayed until Nov. 1, 2021, at 86 FR 20032, Apr. 16, 2021.

Cross Reference

This amendment was withdrawn effective Nov. 1, 2021, at 86 FR 54072, Sept. 30, 2021.

If ONRR decides that we will value your oil for royalty purposes under § 1206.104, or any other provision in this subpart, then we will determine value, for royalty purposes, by considering any information that we deem relevant, which may include, but is not limited to, the following:

(a) The value of like-quality oil in the same field or nearby fields or areas

(b) The value of like-quality oil from the refinery or area

(c) Public sources of price or market information that ONRR deems reliable

(d) Information available and reported to ONRR, including but not limited to on form ONRR-2014 and the Oil and Gas Operations Report (Form ONRR-4054)

(e) Costs of transportation or processing if ONRR determines that they are applicable

(f) Any information that ONRR deems relevant regarding the particular lease operation or the salability of the oil