Common use of Accounting Statements Clause in Contracts

Accounting Statements. If any well is completed as a producer of oil and/or gas in paying quantities, Operator shall furnish within ninety (90) days after the date of completion, to ▇▇▇▇▇▇ and or Silver Star, an itemized statement of the cost of drilling, testing, completing and equipping the well, together with an inventory of the material and equipment therein, thereon and used in connection therewith and Operator shall thereafter furnish ▇▇▇▇▇▇ and or Silver Star with a monthly itemized statement of the cost of operations and the quantities and qualities of oil, gas or other minerals which are produced from said well, together with the amount of proceeds from the sale of such production in the preceding month. Such reports, together with a complete well record shall be furnished to ▇▇▇▇▇▇ and or Silver Star pursuant to the provisions of the ▇▇▇▇▇ section Exhibit “C” of the Joint Operating Agreement.