Texas Production Allocations for the Railroad Commission of Texas
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. Texas Production Allocations and 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 to the Railroad Commission of Texas (RRC).
Texas Production Allocations services include but are not limited to:
- 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 agreements 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 Texas Production Allocations, data is fed into the Texas PRs and then uploaded to the Railroad Commission of Texas (RRC) website. It is Creel’s objective to ensure that our clients’ production allocations are prepared accurately and reported to the correct codes. These services alone save clients valuable time and money.