Email Document Reference

Enter your email address below and the reference for this document will be sent to shortly from webmaster@ceesi.com.

Title: Royalty Verification Of Oil And Gas Accounting
Author: Mary Jo Armer
Source: 1977 International School of Hydrocarbon Measurement
Year Published: 1977
Abstract: The preponderance of errors in oil and gas payments to the royalty owners has created the necessity of verification of royalty income. This verification is quite costly and in the past, has not been justifiable. However, with the higher prices it has become expedient for the royalty owner and/or a group of royalty owners to verify its royalty income. Let us imagine that you are employed by a large royalty owner group to do its accounting and the verification of its royalty income. A royalty owners verification is generally a manual check of royalty payments received from your companies. The word manual is most significant. In this age of computers, when manual is used, especially in connection with accounting, ones immediate reaction is that it is antiquated, uneconomical and too slow. This may not necessarily be true since other factors must be considered. Manual checking tends to be more satisfactory since it tends to adjust quickly to change. It is flexible. It does not have the built-in rigidity of a computer system that must be constantly reprogrammed because of changes in the problem.




In order to prevent spam and automated file downloads for documents within the Measurement Library, please follow the instructions below and then you will be able to email a reference to this article.





Copyright © 2025