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Title: Royalty Verification Of Oil And Gas Accounting
Author: Jerry D. Miller
Source: 1983 International School of Hydrocarbon Measurement
Year Published: 1983
Abstract: Because of high oil and gas prices, oil windfall profits tax, and gas regulations arising out of the Natural Gas Policy Act, royalty owners are spending time and money to verify the accuracy of their royalty payments. The most active royalty owner, the Federal government is setting the pace In verification of royalty by Issuing new or revised regulations concerning the method of pa3Tnent calculations and the method of reporting. New forms are being developed and old forms are being revised to allow the federal government to ensure that top dollar is being received. Other royalty owners are developing programs which they have not previously had to verify royalty ranging from phone calls to formal audits or investigations.

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