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Our Audit group has audit and consulting expertise in nearly all aspects of oil and gas contracts, from Joint Operating Agreements (JOAs), COPAS accounting procedures and standards, international production sharing agreements, leases, marketing contracts, midstream and processing agreements, production handling agreements, transition services agreements (TSAs), settlement statements, payout agreements, and vendor master service agreements.
Our audit group has audit and consulting expertise in nearly all aspects of oil and gas contracts.
Ensure accuracy and compliance in your joint interest billings with a Joint Interest Audit. At Martindale, we specialize in thorough Joint Interest Audits, designed to provide clarity and confidence in your joint interest billings. We review the charges and credits to a non-operator to determine if they are in compliance with the provisions of the governing agreements.
At Martindale, our internal audit team brings exceptional expertise to every facet of internal audit activities, ensuring your organization operates with confidence and clarity. We excel in managing the entire internal audit function including, but not limited to, risk assessment, internal controls testing (including SOX testing), operational, and vendor risk assessment and audits.
Navigating the complexities of revenue and royalty agreements can be challenging. Our revenue and royalty audit services are designed to provide clarity and assurance. We review payments, verify compliance with applicable agreements, and assess the accuracy of calculations. By identifying any discrepancies or inconsistencies, we help ensure that our clients receive proper revenue and royalty payments.
Evaluating the relationship between your company and your vendors is critical to successful operations and business. Prudent operators will exercise their rights to evaluate that relationship through a vendor audit to determine whether the vendor is in compliance with the terms and conditions of the applicable Master Service Agreement (MSA).
Navigating the complexities of midstream and gas plant audits demands a specific skill set and expertise due to complex operations and agreements. Our team is equipped to review the intricate operations and agreements inherent in these audits, ensuring comprehensive and accurate results.
The differences between domestic and international agreements are significant, requiring experience and expertise to understand the additional and unique complexities. Reviews of international projects require a thorough understanding of the relationships of the parties and the unique terminologies and provisions contained in international operating agreements and accounting procedures.
An organized and executed due diligence review is key to successful oil and gas properties and minerals acquisitions. There are many aspects of a due diligence review including title work, operational analysis, reviewing outstanding litigation and environmental issues, and potential accounting issues. Martindale can help evaluate or execute a potential transaction by performing cut-off or post-close cost reviews and settlements from a joint venture or “COPAS” standpoint, review existing operating agreements and accounting procedures, and analyze outstanding joint venture audit claims.
Matt Pilkington