Reporting Rules (Royalty)

IL2007-6 | IB2007-01

Sections 28 and 29 of the Oil Sands Royalty Regulation, 1997 (Regulation), set out the parameters for the reporting required of projects approved under the Regulation. A joint industry and Department task group reviewed the format and content of the reports. The type of report required is dependent upon the project being in a pre-payout period or a post-payout period, as well as for the time being reported. Failure to provide the Department with any of the reports by the required due date may result in penalties being levied, in addition to interest being assessed if a corresponding payment is also late.

Further information may be found in Section 6 of the Oil Sands Royalty Guidelines

Penalty

A $1,000 penalty may be imposed for each month or partial month the report is late. Similarly, a $1,000 penalty may be imposed if the project is required to (but does not) provide an externally audited End of Period Statement, in the case of projects that have crude bitumen sales averaging greater than 1,590 m3/day (10,000 bbls/ day) during the period.

Reporting Information

Payments - RapidTrans Deposit Form (How to Use)
This form is can be used by clients who are making cash payments to the Alberta Finance for their oil sands royalty submissions.

Payments - Pre-Authorized Debit Royalty Payments -(How to Apply)
A letter is provided identifying what is required for pre-authorization payment. The application form is contained within the letter.

Forms - Royalty Reporting
Access to the Royalty Project Application & Royalty Reporting Forms (Schedules).

Finding the Long Term Bond Rate (LTBR) - Rates of Return
This table should be used when submitting the Return Allowance calculation on the End of Period reporting form. It provides access to the monthly listing of Long Term Bond Rates (simple average), the Non Arms Length Transaction Non-Basic Pipeline's Rate of Return on Capital (RORC) , and the Deemed Corporate Income Tax percentages.

Copying the LTBR into the Return Allowance form.
This tip sheet provides information on how the LTBR could be copied from the tables provided, directly into the Return Allowance calculation on the End of Period reporting form.

Crude Bitumen Prices
Supply and disposition information may be accessed through the Energy Utilities Board, and the various prices, factors, and "R" Multipliers for oil are published in the department's Information Letters. The latter is used when submitting conventional oil sands royalty.

  Queries may be directed to: Oil Sands Reporting