Overdue Oil & Natural Gas Royalties
You must pay all your estimated and invoiced royalties by the due date or your account will become overdue. If you have an overdue account, paying it in a timely manner will keep interest charges at a minimum.
Your royalties become overdue when:
- you owe an adjusted net balance in your royalty payor accounts as of the last day of a month
- your estimate account balance is less than 90% of actual oil and natural gas royalties payable for the production month
- your royalties for any previous production months have been adjusted because:
- you have filed an amended report
- your well’s royalty incentives or allowances were changed
- you have received an assessment from us because of a validation amendment or audit
Your adjusted net balance will be calculated as the sum of the closing balances for all royalty accounts plus the closing balance of your cash suspense account.
How to Pay
You must submit a BC-15, Petroleum and Natural Gas Remittance Advice with your payment so we know where to allocate the funds.
Interest is charged monthly on all overdue payments.
You will not be charged interest if the amount owing is less than $5.00.