Our Federal Reporting and Compliance team can provide your company with the services that are required to stay compliant with the Office of Natural Resources Revenue (ONRR). Exploration and production companies are finding that correct reporting is demanded by the ONRR.
Services that we currently offer to our Federal clients include, but are not limited to:
- 2014 Royalty Reporting
- ONRR Audit & Compliance Preparation and Filing
- Market Condition Rule Determination
- Unbundling: Taking Practical Steps to Comply
- Production Allocation Generation or Analysis
- OGOR (Oil & Gas Operations Reports)
- Revenue Accounting Review
The ONRR is a unit of the United States Department of the Interior and exercises the royalty and revenue management functions that were formerly performed by the Minerals Management Service (MMS).
These functions include:
- Royalty & Revenue Collection
- Distribution, Auditing & Compliance
- Investigation & Enforcement
- Asset Management for Onshore & Offshore Activities
The ONRR’s mission statement reads “To collect, disburse and verify Federal and Indian energy, and other natural resource revenues on behalf of all Americans.”
The language the ONRR continues to place in every Data Mining, Volume Comparison and Compliance request states that failure to make the changes or follow the regulations can result in a civil penalty assessment. The assessment can be $500 per day ($5,000 per day after 40 days) for failure to report.
However, certain violations such as failure to permit and audit, failure to timely pay royalties or submission/maintenance of false, inaccurate or misleading information are subject to civil penalty assessments of as much as $10,000 or $25,000 per violation for each day the violation continues.
Our goal is to provide the customer with excellent service, communication and our highest level of integrity in fulfilling your Federal Reporting and Compliance requirements.