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New
Book
Release
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| Robert Malone has been featured in a new book,
Black Gold, The Story of Texas Oil & Gas, which was
released by The Texas Energy Museum featuring many prominent
leaders in the industry where Malone was featured back to back
with the famous Clayton W. Williams. More
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| Desk
Audits Just Can't Find All the Errors. |
| |
Desk
Audit |
Malone
Petroleum Consulting |
| Advances
not refunded |
X |
X |
| Agreements |
|
X |
| Allocations |
|
X |
| Before/After
Casing Point |
|
X |
| Bids |
|
X |
| Bill
Codes |
|
X |
| Bits |
|
X |
| Coding
errors |
|
X |
| Conditions |
|
X |
| Corrections |
X |
X |
| Credits
not received |
|
X |
| Cutoffs
missed |
|
X |
|
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| A contract-compliance review
of the joint operating agreement is conducted for the purpose
of verifying transactions and resulting charges reflected
on the Operator's joint interest billings. Errors are always
present, yet some working interest owners hesitate to conduct
a review, citing long-term relationships. On the other hand,
many others make it a wise policy to check everything in which
they invest. In good times or bad, the contract compliance
review improves profitability by recovering and precluding
overcharges. Any non-operator can initiate a review. Typically,
a working interest owner will ballot other non-operating working
interest owners to join in the review, sharing its costs. |
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Largest recovery
$60,000,000
It had already been audited
and the exception was missed!
—
Report was $19,747,379.16
with
$18,953,753.45 in
agreed exceptions.
—
3rd largest recovery
$18,000,000
This one had also been audited
and the exception was missed!
—
Over 1,000 exception
findings
in some joint interest reports!
—
Obtained credit for the drilling
charges for an
entire well as a
granted exception!
—
Audit results were front page of
Wall Street Journal
Client's stock went up!
—
Reviewed $2.4 million
in LOE cost
Recovered $5.2 million
in exceptions!
—
Audit results
cancelled
existing claim against the client!
—
Before the audit,
the clients owed money.
After the audit, the operators
owed money to the client!
—
Recommendations made prior
to the drilling of wells
made the clients millions!
—
Results were ten
times that of
the largest big 6 audit firm.
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