Joint Venture & Drilling Audits
Our Associates are experts in joint venture audits covering the upstream oil and gas industry. We work with our clients to ensure that they have peace of mind knowing that they are being represented in a professional manner by high calibre individuals who are well respected within the industry.
What We Do
We will save you time by managing the entire Joint Venture Audit process through liaising with you, the Operator and other Joint Venture Partners. In particular we will:
- Achieve savings for you in your non-operated Ventures by capitalising on our knowledge of your assets;
- Anticipate audit requirements, discuss audit rights on key assets and manage the process effectively for you;
- Provide a team with unrivalled credentials, respected within the industry, enjoying good relationships with Operators and with a deep working knowledge of commercial arrangements;
- Issue and agree audit scopes well in advance of the audit fieldwork;
- Report to you immediately on conclusion of the field work;
- Issue reports and proactively manage open issues to a conclusion by focusing on recovering costs which have been incorrectly charged to you and ensure that appropriate correcting entries / actions are taken by the Operator;
Drilling Campaigns
We apply the same methodology to the audit of drilling campaigns as our other Joint Venture Audits. However, the risks, and therefore findings, are typically higher due to cut off between wells in multi-well campaigns and the allocation of costs in costs sharing arrangements.
