What kind of reporting does Creel & Associates offer?
We offer production, severance tax and royalty reporting for the Federal Government, State of Louisiana and the State of Texas. This can include the preparation and submission of the necessary reports for the previously mentioned services.
What type of audits does Creel offer?
We offer support and/or handle Federal & State audits. This will allow you to focus on the core of your business. In addition we can conduct a cradle to grave review of your company’s production accounting and regulatory accounting processes. We also assist with Joint Venture audits to ensure your partners are properly preparing the production allocations and royalty and severance tax submissions.
What is the benefit of outsourcing to a company like Creel?
Today’s fast-paced environment and managements increasing pressure to do more work with less staff makes it extremely difficult for your staff to keep up with the ever changing regulations and requirements the Federal Government, State of Louisiana and State of Texas are imposing on operators and producers. Our well-trained staff makes it a priority to keep up with those changes to ensure our clients are in compliance. With Creel you are not getting one person who works on your regulatory accounting obligations. You are getting our entire staff.
Have you been successful in getting your management on board with the increased frequency of ONRR data requests, data mining notices and compliance reviews?
Creel’s knowledgeable staff can meet with you and your management team to discuss the common pitfalls and landmines that need attention. We can explain why additional horse power is needed and the consequences if not taken seriously.
Has your company began to "Unbundle" your Transportation and Processing Allowances?
Developing an alternative unbundling methodology can be extremely difficult. Oftentimes, companies do not have the knowledge or staff to handle such a task. Creel works directly with the ONRRs unbundling and valuation teams. We can assist with the process to ensure you are in compliance and help in responding to ONRRs Preliminary Determination notices and Orders to Report.
