ONRR 2014 Royalty and OGOR Reporting In today's complex environment of governmental reporting, our team of experienced professionals will assure that your reporting meets all required regulations and...
ONRR 2014 Royalty and OGOR Reporting In today's complex environment of governmental reporting, our team of experienced professionals will assure that your reporting meets all required regulations and guidelines within industry standards. You can be confident that we will accurately report the production of your oil, condensate, processed gas, unprocessed gas, pipeline condensate, retrograde condensate, scrubber, gas plant products, flash gas and fuel gas; to name only a few. Your marketing arrangements, transportation deductions, processing deductions, communitization agreements and 'take vs. entitlements'​ will be thoroughly reviewed, properly submitted and maximized to full potential. Our Federal team can manage all aspects of Royalty Valuation with the preparation of 2014 reports. ONRR Audits, Data Mining & Compliance Reviews In recent years, the ONRR has had a shift of focus by increasing their audit staff and enforcement departments. They are aggressively requiring all companies, regardless of value, to tighten their reporting procedures. There is no materiality on the value or substance of the audit(s); the ONRR is demanding the reporting be corrected and can go back many years depending on the area under audit. Many companies fail to understand that additional monies may or may not be due. However, the ONRR's emphasis focuses on accurate reporting, NOT the size of the underpayment. It is important to understand the complex regulations and correct the reporting going forward limiting the exposure to your company in the future. Louisiana Reporting Our established relationships with state authorities aid in our continuing effort to bridge the gap across multiple departments.. Our Louisiana team has several years of experience in the oil and gas industry. They are fluent with the many uses of the SONRIS, the Office of Mineral Income and the Department of Revenue's websites.