Royalty Management System (RMS)
In Spring 2010, the Northern Oil and Gas Branch launched the Royalty Management System (RMS). RMS is an online electronic reporting application used by interest holders - oil and gas companies owning a share in a Production Licence - to submit required production and sales figures. The automated royalty calculations produced by RMS are based on the rates prescribed under the Frontier Lands Petroleum Royalty Regulations . RMS has the following features:
- The secure electronic submission of required royalty information. This online application provides confidence in the computational accuracy of the royalty submissions, has a last minute reporting capacity, and a time/date stamped acknowledgment feature.
- The ability to amend previously submitted royalty returns. Any associated interest that is payable or receivable will be computed automatically.
- The ability for interest holders to view and print their previously submitted returns, as well as to view an up-to-date account summary, including monthly details of each individual project.
- Information needs to be entered only once. Production volumes, capital costs and operating costs entered by representatives of Production Licences on the Monthly Production & Cost Statement will flow automatically to each interest holder's Monthly Royalty Return at the appropriate allocation percentage. The Payout Statement will be updated automatically from submitted Monthly Royalty Returns.
For further questions on registering a user for RMS, or for any other inquiries, please contact the Royalty Officer at: email@example.com.
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