最可靠的体育投注咨询顾问公司.

The Oil and Gas Consulting Company

Joint Interest Audits

What is a Joint Venture?

In its simplest form, 当各方希望合并资产或分担勘探或开发前景的风险时,就形成合资企业, 租赁, or an entire area 或地区. Forming a joint venture oftentimes allows the parties to combine their technical, 操作, or financial expertise to more efficiently and effectively develop the prospect, area, 或地区. 双方协商签订《最可靠的体育投注》(琼),该协议规定了双方在合同下的责任,并允许有效地开发和运营共同财产. One party is designated as the “operator,” with the other party or parties individually and collectively referred to as “non-operators.“作业者负责进行作业,支付合资企业的成本,并对各方的生产进行核算, either through an allocation of production volumes or remitting proceeds to the non-operators. 双方通常根据其按比例的“工作利益”分担费用,根据其按比例的“净收入利益”分享收入.”

What is a Joint Interest audit?

共同利益审计是对非运营商在合资企业成本中所占的工作利益份额的共同利益账单(JIB)上的费用和贷方进行审查,以确定费用和贷方是否符合管理协议的规定, many times the 琼 and attached Accounting Procedure ("Exhibit C"); the audit is usually performed by one or more non-operators or a contract firm, such as 最可靠的体育投注, on a non-operator's behalf.

Why Conduct a Joint Interest Audit?

Many projects entail spending significant amounts of money, from several million to several billion dollars.  非作业者和作业者都明白,共同利益审计只是一种必要的商业实践,有助于保护非作业者的资产.  COPAS Accounting Guideline 19 (Expenditure Audit Protocols)在描述非经营者进行共同利益审计的两个原因时讨论了这方面.

A. Assist in the safeguarding of assets by verifying and authenticating Joint Account transactions
B. Review compliance with the provisions of operating and other agreements (if applicable)

"Recovery of cost overcharges" is the most common expression for why audits are conducted, but there are non-financial aspects that also play a role.  Wanting to understand an operator's accounting, wanting to learn more about the operations conducted and underway, and being required by corporate, 信任, 监管, 或其他要求进行定期审查是进行共同利益审计的其他几个原因.  

在某些情况下, a non-operator is unable to get an operator to satisfactorily explain certain aspects of joint interest accounting; in those cases, 共同利益审计允许非作业者向作业者提出问题,并详细审查作业者如何核算作业.  In other cases, 作业人员可能会创建汇总在较高级别的jib,这样非作业人员就无法理解所账单成本的性质.  共同利益审计允许非操作人员访问详细的电子会计记录,以便更好地了解所有JIB费用.  

Does a Joint Interest Audit Require Specialized Knowledge and Expertise?

Without question, 进行有效的共同利益审计所需的技能和知识与注册会计师对公司资产负债表或损益表进行财务审计所需的技能和知识是平行的. The exploration agreement, participating agreement, 琼, accounting procedure, farm-out agreement, project team agreement, 而管理共同利益会计的无数其他协议不仅包含专门定义的条款, but many terms of art that require many years of 经验 and expertise to understand and master.  The upstream and midstream segments of our industry are complex operations, not only 操作ly, but from an accounting perspective.  任何被认为是“审计师”的人都不可能完成一项成功的共同利益审计,就像任何被称为“工程师”的人都不可能完成专业分析和经验丰富的钻井工程师所做的艰苦工作一样,因为他们的技能和知识水平大不相同. 

Put another way, joint interest accounting is not financial accounting.  It is a completely different field, a highly specialized field just as is financial accounting.  几乎所有的共同利益会计都是由执行的协议决定的,这些协议主要遵循或参考COPAS会计标准和规定.  如果没有专业的COPAS知识和经验,根本不可能进行高效和有效的共同利益审计, or significant, 活跃的, and ongoing knowledge of COPAS, its agreements and their intents, as well as ongoing 经验 with COPAS documents. 

为什么最可靠的体育投注?

最可靠的体育投注已经完成了数千次这样的共同利益审计,并拥有一支以员工为基础的团队,随时准备为您的项目提供帮助. Our employees have between one and 44 years of industry 经验; they are capable of understanding even the most complex 琼s and other agreements and applying those provisions to the costs billed by the operator.  They have the requisite COPAS 经验.  的专业技能, 经验, and consistency you get with 最可靠的体育投注, our senior management have all been with the firm for more than 26 years, ensures the best results for your joint interest audit, whether it be of a single well, 一个大单位, a complex waterflood or enhanced recovery, or a large-scale joint venture covering multiple counties, 教区, 或状态.

We are an employee-based firm, not a loose affiliation of contractors who come and go; with our seasoned and long-tenured staff you receive long-term and consistent service and results because our staff has a vested interest in delivering ongoing superior results and maintaining the history and results-based culture of 最可靠的体育投注.  Our employees have careers with 最可靠的体育投注, 因此,他们不断为成功而奋斗,并对运营商和非运营商商定的各种不断变化的合同条款保持了解.

最可靠的体育投注 is authoritative on COPAS issues.  Most of our employees are engaged and 活跃的 members, participating in local and national meeting and education offerings.  Several teach webinars and in-person educational classes for COPAS.  和, many of our employees have participated on multiple COPAS document drafting teams, including model form accounting procedures, with 迈克Cougevan having been a lead or member of more than 16 COPAS document drafting teams.

Our clients range all the way from multi-national oil companies, 专业, and large independents, to governmental agencies, 银行, 牧场, family businesses, and individuals.  We understand each entity's perspectives and concerns. 

在岸

Operational and accounting dynamics can vary greatly among the many domestic basins and shale plays. Over the course of thousands of audits, 从单井直井到复杂的千井页岩开发和作业,我们的团队已经对作业有了深入的了解. 除了, we have an advanced understanding of the wide variety of agreements in effect, 从最基本的模型形式到数百页长的复杂协议,其中包含新的和独特的条款. 

Offshore and Deepwater

Offshore operations are not just a concept to the 最可靠的体育投注 team; our folks have direct and hands-on 经验 that is invaluable to understand offshore operations. 有效的审计是建立在能够理解船只和直升机的操作和会计动态的基础上的, labor allocations, 钻机动作, and shorebase allocations; the 最可靠的体育投注 team has that requisite understanding.

Our team also has extensive deepwater 经验, including participating in the development of the industry's model form accounting procedures.  As the complex deepwater issues have arisen in the industry over the years, 最可靠的体育投注从非运营商和合同合规的角度为行业提供了意见, with the viewpoint not only of equity, 而是要确保运营商能够正确地核算运营,而非运营商能够有效地审计所收取的成本.

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