Joint Venture

Offshore 

Offshore operations are not just a concept for the MartiCons staff.  Several of the MartiCons staff worked for majors and independents prior to their MartiCons employment in various managerial, accounting, and auditing positions for offshore operations.  Members of our staff have made numerous trips offshore, not only for training and education, but to physically measure platform space and layouts to accommodate third-party or purchaser needs.

This direct and hands-on experience is invaluable to your review because our staff understands offshore operations: the logistics, terminologies, peculiarities, and issues pertaining to rig moves, boat/helicopter usage and allocations, labor allocations, and how the work flow occurs offshore and at shorebases are not foreign to our staff; they are second nature.

We have performed hundreds of offshore drilling, facility, pipeline, and maintenance projects and have encountered and analyzed a myriad of payroll, boat/helicopter, and lease operating expense allocation methodologies.  Let us apply our expertise to your offshore project.

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Onshore

Whether from California to the Appalachians, from Michigan to South Texas, from the Rockies to the marshes of South Louisiana, or in any area in between in the great oilfields of New Mexico, Texas, Oklahoma, Louisiana, California, Colorado, and Wyoming, MartiCons has the experience necessary to perform your review.  Our extensive experience in all areas of the country and in reviewing all types of operations, including net profits, before and after-casing-point projects, farmouts, turnkeys, production payments, non-consent, as well as many unique and creative arrangements, ensures that the MartiCons staff will be able to not only understand the particulars of your project, but will be able to expertly and effectively plan and conduct a review of your operation.  We are the right choice for analyzing drilling, secondary and tertiary recovery, and your unique operations because we have the experience to deliver the results you expect.

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Alaska

Operations in Alaska (The Last Frontier) are unique, difficult, and challenging.  Accounting for these operations are also unique, difficult, and challenging.  Members of our staff have worked in Alaska and on the North Slope and held managerial, accounting, and, auditing positions for these North Slope operations beginning with Prudhoe Bay startup in the late 1970's to as recently as calendar year 2005.

These members participated in audit resolution task forces making decisions that impacted future accounting.  They also were involved in the writing of new, and amending existing, accounting procedures to reflect the unique nature of North Slope operations and accounting.  This experience is a tremendous asset to your project because we understand the North Slope.

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Deepwater

The deepwater Gulf of Mexico is not a frontier area for MartiCons.  We have analyzed  drilling wells, construction projects, and operating expenses for over a decade, including several projects from the first exploratory well through review of ongoing operating expenses.  We understand and can discuss the unique logistical and operational aspects of the deepwater and its associated accounting issues in areas such as rig modifications, long term contracts, subsea completions and umbilicals, and the purchases and rentals of duplicate equipment and materials.  MartiCons‘ extensive deepwater experience also includes advising several clients as to equitable accounting for rig mobilization and modification costs and other types of costs unique to deepwater operations.  

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Revenue

Ensuring that you are paid correctly for your working, net profits, royalty, or overriding royalty interest, or that you are credited for the correct volumes of oil and gas, is one of your most important priorities.  It is one of our top priorities as well.

Put MartiCons’ extensive experience in revenue and volumetric reviews to work for you.  We have analyzed every type of arrangement from the most basic to the most complicated, so we know what to look for and are not intimidated by complex contract provisions.  We have made significant recoveries for a range of interests and entities:  

• Royalties and overriding royalties owed to individuals

• Revenues and volumes owed to working interest owners

• Payout calculations

• Net Profits provisions and calculations

• Gas plant proceeds and volumes

• Proceeds owed to bank trust departments

• Royalties owed to state and Federal governments

• Processing and handling fees and volumetric calculations

• Volumetric and monetary gas balancing

These types of reviews are often difficult, requiring specific expertise and experience to understand oftentimes tedious and complicated contract provisions.  Put your trust in MartiCons.  We understand all the variations of these types of arrangements because we have performed these types of reviews for over 20 years and do them on a regular basis.  Complicated contract provisions do not intimidate us; we will combine knowledge-sharing with our collective experience and conduct the thorough review you expect. 

Give us a call; you will see that we understand your particular situation because revenue and volumetric reviews is not a sideline for us; it is one of our areas of industry-recognized expertise.

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Vendor

You are not increasing your staffing to handle the ever-increasing time-intensive process of verifying that suppliers correctly invoice you for materials and services.  You have noticed that the internal processes of approving vendor payments have become more difficult and tedious as contracts between operators and suppliers have become more complex.  Alliance arrangements, global pricing and discounting, changes to the level of detail provided, electronic invoicing, elimination of daily work tickets, changes to payment terms, and incentive provisions based on safety and performance metrics are some of the reasons why you are spending more time reviewing and processing each invoice.  But you are not comfortable that the proper amounts are being paid to vendors.

With MartiCons’ expertise, however, you can be sure that you are not paying more than you are contractually obligated to pay.  MartiCons has extensive experience in identifying improper costs billed under vendor contracts, from the basic to those based on alliances and global contracts.  We know where to look for overcharges and have had outstanding success obtaining refunds and ensuring procedures are established to prevent future overcharges.  And, we understand the sensitive nature of many vendor reviews, so you can be assured that our industry-acknowledged professionalism will result in fair and ethical reviews.

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Construction

Midstream companies contracting for the construction of pipelines, facilities, and plants have relied on MartiCons for many years to conduct thorough and professional reviews of all types of construction projects.  Upstream operators know they can count on MartiCons to analyze platform and facilities construction costs with the same level of detail and expertise as they receive on joint venture and revenue reviews.  These companies realize that oil and gas-related reviews are all MartiCons does, so we have been able to develop an unsurpassed expertise in understanding the operational and logistical aspects of construction projects and the terminologies used in our industry.

Combine that knowledge with our experience in contract and vendor compliance reviews,  it is no wonder that companies remain confident that MartiCons will continue to deliver outstanding results in reviews of major construction projects.  You can become more comfortable with your project costs by contacting MartiCons and discussing a review of your construction project.

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Internal

Many companies understand that drawing on MartiCons’ collective 160 years of experience in analyzing oil and gas accounting systems and procedures provides a unique perspective as to the proper and efficient internal procedures and controls necessary to handle a wide array of functions.  Are all billable costs charged to non-operators?  What can be gleaned from efficient desk reviews of joint interest billings? How can systemic audit exceptions be eliminated?  How complicated must payroll, boat, and helicopter allocations be?  How can you be sure severance taxes are paid correctly?  How can you be sure that reporting and payments to royalty and overriding royalty owners are correct?

These are only a few of the internal reviews we have performed over the past few years.  Let MartiCons work with you to establish internal controls and procedures to help you become more efficient.  Many of our staffers worked for major and independent upstream companies, so it is extremely easy for us to put ourselves in your shoes and understand that new procedures must be thorough yet streamlined and efficient from the aspects of time and manpower.  Call us and learn how we can help you with your internal needs.  

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Gas Plant

Settlement to producers for processing gas is a complex arrangement.  Whether you are an interest owner in the plant or simply process gas for a fee, MartiCons can maximize your revenue through a thorough and complete analysis of processing and allocation procedures used by a plant Operator.  We can ensure that all deductions from your gas for fuel, flare, and shrinkage due to extraction of liquids, comply with the terms of your processing agreement, as does the Operator’s basis for allocating recovered natural gas liquids and Residue Gas.

Many factors are involved in the determination of a fair share of liquids contained in an owners gas and the allocation of extracted liquids, and MartiCons has encountered, and effectively dealt with all of them.  Through the application of our knowledge and experience, we can ensure that you receive the natural gas liquids and residue gas to which you are entitled.  If you don’t take action, the plant operator may continue to retain natural gas liquids and residue gas to which you are entitled.

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Royalty

With the complexities and intricacies of today’s lease agreements, it can be very difficult for Operators to correctly account for revenue payments to royalty owners, especially when the lease agreements have differing valuation and volume clauses then the typical Joint Operating Agreements.  With oil and gas prices reaching all time highs, royalty reviews are becoming more and more prevalent in the industry today.  Marticons has represented royalty owners ranging from entire states and large trusts, to small farmers and everything in between.

If you feel like you are in the dark regarding your royalty payments or just have some simple “industry standard” questions, Marticons can help whether it is a desk review of lease agreements and royalty payments to determine if exposures of incorrect payments exist or an extensive review of an Operator’s allocations of large fields or gathering systems.

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International

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 accounting procedures.  MartiCons has analyzed a wide variety of agreements and developed the experience necessary to protect your interests by leading or assisting in more than a dozen international audits in Norway, Brazil, Australia, Egypt, Vietnam, Indonesia, Barbados, and Canada, with many projects involving foreign governments as a party to the agreements.  Our passports are ready and our immunizations current; the MartiCons staff is ready to show you that our expertise and resources allow us to deliver unmatched results on your international reviews just as we do on domestically..

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