Our mission at Creel is to reduce your liabilities by accurately reporting your production and sales. Utilizing complex methodologies and algorithms to create solutions that are unique to your inventory of properties. Production accounting sets the foundation for precision in Oil and Gas accounting, which then provides the foundation for all areas of Texas Reporting, including Royalty and Severance Tax Reporting.
Our practices include but are not limited too:
- 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 at each well. From this analysis and our developing relationship with our clients’ engineering, accounting and marketing groups, we are able to offer a broader vision for our clients. Upon completion of Production Allocations the data is fed into the Texas PRs and then uploaded to the Railroad Commission’s website. It is Creel’s objective to ensure that our clients’ allocations are prepared accurately and reported to the correct codes. These services alone save clients valuable time and money.