[Code of Federal Regulations]
[Title 30, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 30CFR220.010]

[Page 194]
 
                       TITLE 30--MINERAL RESOURCES
 
                       DEPARTMENT OF THE INTERIOR
 
PART 220--ACCOUNTING PROCEDURES FOR DETERMINING NET PROFIT SHARE PAYMENT FOR OUTER CONTINENTAL SHELF OIL AND GAS LEASES--Table of Contents
 
Sec. 220.010  NPSL capital account.

    (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 Sec. 220.012, 
and allowances for capital recovery calculated pursuant to Sec. 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.