Joint Venture - General
Just as fast as the oil and gas industry has rapidly developed large-scale unconventional operations, MartiCons has been on the cutting edge for adapting to how joint venture reviews are conducted, resulting in being able to effectively and efficiently review large scale operations and expenditures. We have performed thousands of joint venture contract compliance reviews and tailor our staff for each review to the specific needs of each project, providing unsurpassed, consistent, and informed results.
Operational and accounting dynamics can greatly vary between the various domestic basins and shale plays. Over the course of thousands of reviews, our team has developed a deep understanding of operations ranging from a single-well vertical to the complex development and operation of thousand-well shale plays. In addition, we have an advanced understanding of the wide variety of agreements in effect, from the most basic model form to the hundreds-of-pages-long complex agreements with new and unique provisions.
Offshore and Deepwater
Offshore operations are not just a concept to the MartiCons team; our folks have direct and hands-on experience that is invaluable to understand offshore operations. An effective review is predicated on being able to understand the operational and accounting dynamics of boats and helicopters, labor allocations, rig moves, and shorebase allocations; the MartiCons team has that requisite understanding.
Our team also has extensive deepwater experience, 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, MartiCons has provided input to the industry from a Non-Operator and contract compliance standpoint, with the viewpoint not only of equity, but of ensuring the operator's ability to properly account for operations and the non-operators ability to be able to efficiently review costs charged.
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. These types of reviews are often difficult, requiring specific expertise and experience to understand oftentimes tedious and complicated contract provisions. We have analyzed many types of arrangements 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
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.