EXPLORATION & PRODUCTION SERVICES
When a publicly-traded Exploration & Production Company found themselves facing a variety of issues and inefficiencies with several Accounting & Finance functions, we were prepared to meet the challenge. Providing a combination of specialized consulting and staffing services, we devised and implemented a variety of critical process changes which corrected the determined issues and inefficiencies. These changes included:
With the implementation of these improvements, this Exploration & Production Company was able to handle its continued, rapid growth as well as prepare for future challenges.
When an exploration and production company found themselves subject to an ONRR audit of royalty payments and production reporting, they turned to us to help them draft their response. Noticing significant deficiencies in their reporting system, we reworked the system to comply with audit findings and new ONRR requirements and systems. Once the rework was complete, we implemented new processes and trained existing staff to correctly calculate and report royalties, allowances, and reporting volumes and use the new ONRR electronic system for filing, tracking balances and payment applications, and handling payments of estimates and rents.
With our help, this company was able to get through their audit with minimal business interruption and put processes in place which not only allowed future audits to run smoothly, but greatly reduced the chances of overpayments in the future.
Our consultants played several pivotal roles during an Oracle implementation for an exploration and production company. Providing assistance throughout the project lifecycle, we focused on the following key areas:
With our assistance this company was able to avoid significant issues that normally affect complex, international system implementations and was left with a more effective system implemented around well thought out business requirements with proper business process integration.