Gas settlement statement definition
/What is a Gas Settlement Statement?
A gas settlement statement is a document used in the oil and gas industry that details the amount of gas delivered to a purchaser. The key information on a gas settlement statement includes the following items:
Lease number
Producer identification
Quantity delivered
British thermal unit factor (BTU). The higher the BTU stated, the higher will be the gross dollar amount paid.
Lease production taxes
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FAQs
How Often are Gas Settlement Statements Issued?
Gas settlement statements are typically issued monthly, reflecting the production, sales, and associated revenues and deductions for the prior month's gas activity. However, the exact frequency can vary based on the terms of the lease agreement, operator policies, or purchaser arrangements. In some cases, statements may be issued quarterly or on a delayed basis, especially for smaller operations or complex revenue structures.