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e-CFR data is current as of March 4, 2021

Title 30Chapter XIISubchapter APart 1217 → Subpart B

Title 30: Mineral Resources

Subpart B—Oil and Gas, General

§1217.50   Audits of records.
§1217.51   Lease account reconciliation.
§1217.52   Definitions.

Authority: The Federal Oil and Gas Royalty Management Act of 1982 (30 U.S.C. 1701 et seq.).

Source: 49 FR 37345, Sept. 21, 1984, unless otherwise noted.

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§1217.50   Audits of records.

The Secretary, or his/her authorized representative, shall initiate and conduct audits relating to the scope, nature and extent of compliance by lessees, operators, revenue payors, and other persons with rental, royalty, net profit share and other payment requirements on a Federal or Indian oil and gas lease. Audits also will relate to compliance with applicable regulations and orders. All audits will be conducted in accordance with the notice and other requirements of 30 U.S.C. 1717.

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§1217.51   Lease account reconciliation.

Specific lease account reconciliations shall be performed with priority being given to reconciling those lease accounts specifically identified by a State or Indian tribe as having significant potential for underpayment.

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§1217.52   Definitions.

Terms used in this subpart shall have the same meaning as in 30 U.S.C. 1702.

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