Code of Federal Regulations (alpha)

CFR /  Title 30  /  Part 1202  /  Sec. 1202.101 Standards for reporting and paying royalties.

Oil volumes are to be reported in barrels of clean oil of 42 standard U.S. gallons (231 cubic inches each) at 60 [deg]F. When reporting oil volumes for royalty purposes, corrections must have been made for Basic Sediment and Water (BS&W;) and other impurities. Reported American Petroleum Institute (API) oil gravities are to be those determined in accordance with standard industry procedures after correction to 60 [deg]F. [53 FR 1217, Jan. 15, 1988]