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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 30 - Mineral Resources |
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Chapter II - Bureau of Safety and Environmental Enforcement, Department of the Interior |
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SubChapter A - Minerals Revenue Management |
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Part 220 - ACCOUNTING PROCEDURES FOR DETERMINING NET PROFIT SHARE PAYMENT FOR OUTER CONTINENTAL SHELF OIL AND GAS LEASES |
§ 220.010 - NPSL capital account.
Latest version.
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(a) For each NPSL tract, an NPSL capital account shall be established and maintained by the lessee for NPSL
operations. The NPSL capital account shall include debit entries for all allowable direct and allocable joint costs incurred during the term of the lease, appropriate overhead allowances permitted on these costs pursuant to § 220.012, and allowances for capital recovery calculated pursuant to § 220.020. The NPSL capital account shall be credited with production revenues attributable to the NPSL and any other credits arising from NPSL activities. (b) The NPSL capital account shall be kept on an accrual basis.