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Royalty Handbook

We produce this Handbook to explain the provisions of the Petroleum and Natural Gas Act and the Petroleum and Natural Gas Royalty and Freehold Production Tax Regulation, and to assist producers in meeting their royalty and tax reporting and payment obligation by:

  • explaining the relevant provisions of the Act and Regulation
  • providing interpretation to ensure meaning is clear
  • illustrating and explaining how to complete the reporting forms
  • providing listings of codes needed to complete the reporting forms
  • providing a directory of contacts

If the Handbook is found to be inconsistent with the legislation or forms in any respect, the legislation will take precedence.

TABLE OF CONTENTS (PDF Format)

1.0 Legislation & Handbook Objectives
2.0 Introduction
3.0 Reporting Process
4.0 Oil Royalty & Tax Calculation
5.0 Gas Royalty & Tax Calculations
6.0 Report Completion Guidelines
7.0 Royalty and Tax Invoicing
8.0 Royalty/Tax Reconciliation Reports
8.1 - Oil Royalty/Tax Recalculation
8.2 - Crown Royalty/Tax Share by Reporting Entity
8.3 - Crown Royalty Share by REN - Heavy Oil Details
8.4 - How to Analyze an Oil Royalty Recalculation
8.5 - Oil Royalty/Tax Calculation Error Report
8.6 - Gas Royalty/Tax Calculation BC-10 Error Report
9.0 Client Accounts Management Reports
9.1 - Consolidated Statement of Accounts
9.2 - Oil Royalty Account - Transaction Listing
9.3 - Gas Royalty Account - Transaction Listing
9.4 - Other Accounts - Transaction Listing
9.5 - Interest Calculation Detail Listing
9.6 - Prior Period Interest Calculation
9.7 - Penalty Summary and Penalty Detail Listing
10.0 - Validations and External Audit
Glossary

 

 
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