With a balanced approach to both operator and non-operator concerns, OGC Consulting provides a wide range of services tailored to joint venture interests of all sizes.
Verification of accuracy of charges billed for jointly-owned oil and gas properties and conformance to Joint Operating Agreement and accounting procedure exhibit terms and provisions.
Performed in accordance with COPAS AG-19 protocol guidelines. OGC’s clients include major oils, independents, and small oil and gas companies. From scheduling, balloting, performance, to claims resolution we assist our clients in minimizing their lifting costs for Non-operated oil and gas properties.
Validation of payments received from Operators of a jointly owned property, or from third-party purchasers of production ( both oil and gas, and other products). Validation of volume allocations, pricing terms and production balancing agreements. Performed in accordance with COPAS AG-21 protocol guidelines.
This the true “Cash Register” side of the business and these reviews are focusing on maximizing revenue returns for our clients.
Be it for reviews of Payout Accounts arising from Farm-out Agreements to Non-Consented oil and gas operations, OGC examines the charges accruing to a payout account and the accuracy of revenues used to decrement the payout account balances, as well as determination of the accuracy of the payout calculations (including proper application of “payout penalties”).
These reviews encompass a combination of both the Expenditure and Revenue Reviews described previously.
Joint Interest Expenditure Compliance Reviews
Revenue Compliance Reviews
From the negotiation of joint operating agreements and to billing of costs under same and resolution of claims arising from same. These reviews focus not only conformance of billings to Non-operators of jointly owned oil and gas properties, but also to determine if Operators are fully recovering their costs allowed to be charged to Non-operators.
Recommendations for terms to negotiate for future Joint oil and gas Operating Agreements and administration and billing under same.
Verification of work performed, labor time expended, and equipment utilized and charged, and testing of conformance of the rates charged for same to contract provision.
OGC has examined routine and recurring services charged under Master Service Agreement but also has reviewed charges billed to Operators of oil and gas properties for major construction projects including materials procurement processes, fabrication, and installation of deepwater platforms.
Analysis of Overhead rates negotiated and received by Operators of jointly owned oil and gas properties. These examinations involve analysis of an Operator’s internal General and Administrative cost structure and a comparison of the findings from that aspect of the review to actual rates being received.
OGC’s goal is to help an Operator’s Land Department know what rates to seek in the negotiation of future Joint oil and gas Operating Agreements that mirror the actual costs incurred by Operators.
Service Contractor and Vendor Reviews
Internal Joint Billing Process Reviews
OGC Consulting is prepared and eager to help your company!