55-1620. Oil and gas payments to interest owners; information required to be included. - Kansas Statutes

55-1620

Chapter 55.--OIL AND GAS Article 16.--MISCELLANEOUS PROVISIONS

      55-1620.   Oil and gas payments to interest owners; information required tobe included.When a payment is made for proceeds attributable to oil or gasproduction, thepayment shall be accompanied bythe following information, or the followinginformation shall be calculable from the information providedwith the payment:

      (a)   The lease, property, or well name or any lease, property, or wellidentification number used to identify the lease, or well;

      (b)   the month and year during which the sale occurred for which payment isbeing made;

      (c)   the total volume of oil, attributable to such payment, measured inbarrels and the total volume of either wet or dry gas, attributable to suchpayment, measured in thousand cubic feet;

      (d)   the price per barrel of oil or thousand cubic feet of gas sold;

      (e)   total amount of state severance and production taxes;

      (f)   payee's interest in the sale expressed as a decimal;

      (g)   payee's share of the sale before any deductions or adjustments;

      (h)   payee's share of the sale after deductions or adjustments;

      (i)   an address and telephone number from which additional information may beobtained and any questions answered.

      History:   L. 1997, ch. 136, § 1; Jan. 1, 1998.