Joint Review Compliance and Expenditures
We include such other procedures that we consider necessary under the circumstances. The scope of the joint account review is primarily governed by the compliance to the terms and conditions of the records and documentation from the oil and gas activities, i.e,
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1. AFE's 2. Bids 3. Company reports 4. Consultants reports 5. Contracts, e.g., drilling 6. COPAS accounting agreements 7. COPAS bulletins 8. COPAS interpretations 9. Correspondence files 10. Daily drilling reports 11. Fairness and intent 12. Government reports |
13. Letter Agreements 14. Maps 15. Mud Engineer's reports 16. Oil and Gas industry practice 17. Operating agreement and attachments 18. Operator reports 19. Prudent operator evaluation 20. Purchase/service orders 21. Tour reports 22. Unit agreement 23. Well and lease inventories 24. Well files |
The scope of the review is designed to assure that the records for the operations conformed to the provisions of the preceding agreements, contracts, documents and practices; it is also designed to review the propriety of advances, joint interest billings, invoices and supporting tickets, journal entries, and material transfers for a minimum of the following types of expenditure areas:
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1. Advance reconciliations 2. Before/after casing point 3. Bit usage 4. Boats & helicopters 5. Casing and tubing 6. Coding errors 7. Company labor and benefits 8. Consultants 9. Contractor charges 10. Diesel fuel 11. Discounts 12. Duplicate charges 13. Equipment for lease & well 14. Facility charges |
15. Freight equalization 16. Insurance 17. Lease & prospect acquisition 18. Lease rentals 19. Lease operating agreements 20. Operator-source charges 21. Operator vendor ownership(s) 22. Overhead 23. Non-consent operations 24. Pricing 25. Rentals 26. Services 27. Taxes 28. Working interest percentages |