Reporting requirements for producers and purchasers.

81-09-02-19. Reporting requirements for producers and purchasers. 1. The purchaser of oil at the well must file a monthly oil purchaser's report, as follows: a. If the purchase of oil at the well is an arm's length transaction, the first purchaser must file the oil purchaser's report. b. If the first purchase of oil at the well is a non-arm's length transaction and the oil is resold at the well to an arm's length purchaser, the second purchaser must file the oil purchaser's report. 11 c. If the first purchase of oil at the well is a non-arm's length transaction and the oil is not resold at the well but is sold downstream, the purchaser at the well must file the oil purchaser's report. d. The term arm's length transaction as used in this section is defined in section