Federal Production Allocations
Federal ONRR Production accounting sets the groundwork for precise oil and gas accounting, providing the foundation for all areas of Federal ONRR Reporting, including ONRR Royalty Reporting. The allocations Creel prepares assist with booking revenue, distributing JOA costs properly and providing the correct zone for each well—which helps to minimize PHA and DOA fees. Our mission is to reduce your liabilities by accurately reporting your production and sales utilizing Excel to create workbooks that are unique to your inventory of properties.
Federal Production Allocations practices include:
- Coordination with field personnel to acquire theoretical volumes.
- Review of platform schematics.
- Review well test data to ensure accurate ONRR Production Reporting.
- Regular communication with the operations group to properly allocate sales and production by well, lease and/or unit.
Our analysis includes a complete review of production handling, commingling agreements and lease agreements related to ONRR Production Allocation and Accounting. This allows us to properly capture and allocate production at each facility. From this analysis, as well as our developing relationship with our clients’ engineering, accounting and marketing groups, we can offer a variety of data. Our Production Allocation workbooks aid in telling a story of the oil and gas from the wellhead to the sales meter. Production is allocated on a well, lease and/or unit basis depending on the contract. This allows the production data to be fed into the Federal Oil and Gas Operations Report (OGOR) and then uploaded to the Office of Natural Resources Revenue (ONRR) website. Currently, ONRR has over sixty different disposition codes. It is our objective to ensure our clients’ Production Allocations are prepared accurately and reported to the correct codes. These services alone save clients valuable time and money.