[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: 30CFR220.030]

[Page 202]
 
                       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. 220.030  Maintenance of records.

    (a) Each lessee subject to this part 220 shall establish and 
maintain such records as are necessary to determine for each NPSL:
    (1) The volume and disposition of all oil and gas production saved, 
removed or sold for each month;
    (2) The value of all oil and gas production saved, removed or sold 
for each month;
    (3) The amount and description of costs and credits to the NPSL 
capital account;
    (4) The amount and description of all costs of acquisition, 
construction, and operation of equipment and facilities furnished by the 
lessee and charged to the NPSL capital account under Sec. 220.011(g). 
Such records shall include worksheets or other documents that indicate 
the method used to calculate the amount of each charge made under 
Sec. 220.011(g);
    (5) The cumulative balance of costs and credits to the NPSL capital 
account; and
    (6) The inventory of materiel.
    (b) The ledger cards showing the charges and credits to the NPSL 
capital account shall be maintained until thirty-six months after the 
cessation of NPSL operations by the lessee. All other documents, 
journals and records shall be maintained for thirty-six months from the 
due date or date of mailing of the statement of account on an NPSL, 
whichever comes later, except that nothing in these regulations shall 
limit the time of investigation or the need to produce records when 
prima facie evidence of fraud or willful misconduct is obtained with 
respect to the government's interest in the NPSL.