Our mission at Creel is to reduce your liabilities by accurately reporting your production and sales. We utilize complex methodologies and algorithms developed here at Creel through years of experience to create solutions that are unique to your inventory of properties. Production accounting sets the foundation for precision in Oil and Gas accounting. This foundation provides the basis for all areas of Louisiana Reporting, including state Production, Royalty and Severance Tax Reports.
Our practices include:
- Coordination with field personnel to acquire theoretical volumes
- Review of platform schematics
- Review well test data
- Regular communication with the operations group to properly allocate sales and production by well, lease and/or unit
Creel’s analysis includes a complete review of production handling, commingling and lease agreements. This allows us to properly capture and allocate production to each well. From this analysis and our developing relationships with our clients’ engineering, accounting and marketing groups, we are able to offer a broader vision of our clients data and business as a whole. This allows the production data to be fed directly into the Louisiana OGP and R5D reports and then uploaded to the Department of Natural Resources.