Common use of REPORTING ACCURACY Clause in Contracts

REPORTING ACCURACY. All financial settlements, billings and reports rendered to Apache by Newfield and all bills givxx xx Xxwfield by Apache pursuant to this Agreement and/or any amendments, shall reflect properly the facts about all activities and transactions. Each Party agrees to notify the other Party promptly upon discovery of any instance where it has reason to believe data supplied is no longer accurate or complete. Newfield Exploration Company February 28, 2007 Page 12 of 20 XIV. AUDIT RIGHTS ------------ Apache, upon written notice to Newfield, shall have the right, for a period of twenty-four (24) months from the end of the calendar year in which a payout statement or ORRI disbursement is or should have been received, to audit Newfield's records of all proceeds, operating expenses and any other data or information attributable to such payout statement, ORRI disbursement and the rights of Apache pursuant to this Agreement.

REPORTING ACCURACY. All financial settlements, billings and reports rendered to Apache by Newfield and all bills givxx gixxx xx Xxwfield Xewfield by Apache pursuant to this Agreement and/or any amendments, shall reflect properly the facts about all activities and transactions. Each Party agrees to notify the other Party promptly upon discovery of any instance where it has reason to believe data supplied is no longer accurate or complete. Newfield Exploration Company February 28, 2007 Page 12 of 20 XIV. AUDIT RIGHTS ------------ Apache, upon written notice to Newfield, shall have the right, for a period of twenty-four (24) months from the end of the calendar year in which a payout statement or ORRI disbursement is or should have been received, to audit Newfield's records of all proceeds, operating expenses and any other data or information attributable to such payout statement, ORRI disbursement and the rights of Apache pursuant to this Agreement.