North Dakota Oil Producers Report And Oil Purchasers Report Instructions Sheet (Page 6 of 23) in pdf

13.

STATUTE OF LIMITATIONS:

The following chart details the time periods during which a claim for credit or refund may be filed, or a notice of assessment may be

issued, as provided in N.D.C.C. §§ 57-51-19 and 57-51-09. The claim must be filed, or the notice issued, within the number of years

from the due date of the report or the date the reported was filed.

However, if there is a change in tax liability on any report by an amount in excess of twenty-five percent of the amount of tax liability

reported, a claim may be filed, or a notice issued, within six years after the due date of the report or six years after the report was filed,

whichever period expires last.

PERIOD FOR

TAXABLE

REFUND &

PERIODS

ASSESSMENT

EXPIRE

1990

6 YEARS

1996

1991

5 YEARS

1996

1992

5 YEARS

1997

1993

4 YEARS

1997

1994

4 YEARS

1998

1995 - Forward

3 YEARS

1998 - ***

Please be advised that all tax reports are subject to audit within the time limits provided in N.D.C.C. § 57-51-09. The limited review of

amended reports as indicated above does not constitute an audit and does not preclude audit adjustments in the future.

14.

PROCEDURE FOR REPORTING CONDENSATE:

Pursuant to N.D.C.C. § 57-51.1-01, “oil” means petroleum, crude oil, mineral oil, casinghead gasoline, and all liquid hydrocarbons that

are recovered from gas on the lease incidental to the production of the gas.

Producer Who Recovers Condensate: A producer who recovers condensate from a gas stream in a gathering system must file a

monthly T-10 Oil Producer’s Report if:

• The condensate is recovered from a gas stream not sold to a processor, or

• The condensate is recovered from a gas stream prior to the sale to a processor at a custody transfer meter.

A producer is not required to file a T-10 Oil Producer’s Report for condensate recovered by a processor in a gathering system after the

custody transfer meter.

Processor Who Recovers Condensate: A processor who recovers condensate from a gas stream in a gathering system after the

custody transfer meter but before processing at a gas plant must file a monthly T-12 Oil Purchaser’s Report.

The value of condensate is included in gross value regardless of the point at which it is recovered. This includes condensate recovered

at the lease site, gas gathering lines, compressor station, and inlet separator of a processing plant. Pursuant to N.D. Admin. Code

§ 81-09-02-10 there may be deducted from the gross value of the condensate certain costs incurred to recover the condensate from a

gas stream after the custody transfer meter. Effective January 1, 1995, the costs of recovery must be calculated and deducted from the

gross value of the condensate under either of the following methods:

Page 5

North Dakota Oil Producers Report And Oil Purchasers Report Instructions Sheet Page 6

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