Pursuing Every Opportunity to the Fullest Extent
Many producers struggle with incorporating rules and statutes set forth by the ONRR and State agencies, disseminating changes in those rules, and vague interpretations from Regulators. Companies are typically unaware issues exist within their regulatory reporting and processes and do not employ personnel with the skillsets to identify specific systemic errors, deductions and or incentives. These issues can be exacerbated by frequent changes to the rules and guidelines set forth by the ONRR and state agencies, making it difficult to:
- Maintain regulatory compliance
- Avoid civil penalties
- Identify missed opportunities to reduce royalty and severance tax burdens
- Defend against unfavorable ONRR and State audit findings
- Dispute erroneous interest assessments.
You need a partner who will simplify the complexity for you, finding every available opportunity to maximize deductions and incentives, reduce payables, and combat undesirable audit findings.
Our Consulting & Recovery services include:
- Royalty and Severance Tax Incentive identification and certification
- Compliance Review
- Non-arm’s length transportation/processing allowance calculations
- Arm’s length transportation/processing allowance recalculation
- Volume and value verification
- Royalty relief identification and certification
- Application of ONRR calculated unbundling cost allocations (UCAs)
- Dispute Regulatory Audit determinations
Proven Recovery Approach
The Corvus team understands the oil and gas industry and how to leverage your existing processes to efficiently produce the most accurate results for your specific situation.
For each project we:
- Conduct a comprehensive review of operational agreements, including JOAs, PHAs, and GBAs
- Prepare a marketing summary outlining resource movements from wellhead to end user
- Develop asset-specific valuation models that align with the latest ONRR and State rules and statutes
- Determine the ideal application configuration to achieve desired outcomes and ensure compliance.
- Produce a comprehensive report that:
- Analyzes gaps, needs, and document requirements.
- Identifies incentives, deductions and material systemic errors
- Quantifies potential risk exposure
- Details potential solutions
We then pursue every opportunity to the fullest extent, maximizing all available incentive and deduction prospects.
Through our meticulous, no-stone-unturned approach, we’ve recovered more than $40 million for our clients. Outcomes from Consulting & Recovery work can vary greatly, so we offer our clients a choice related to the terms of our engagement. They can select a contingency fee approach, a fixed fee approach, or a hybrid of both.
We work with clients to really understand their full accounting processes, challenges, and limitations. Once we have a complete picture, we develop and execute on a plan specific to your needs that:
- Navigates ONRR, and State agencies, complex rules and statutes
- Identifies opportunities at the lease and well level
- Reduces royalty and severance tax burdens
- Avoids civil penalties and future interest assessments
- Maximizes deductions and incentives
- Recovers overpayments
We understand that every client and every asset is different. This is why we implement solutions designed to meet your specific needs. We don’t do what’s easy or off the shelf; we pursue custom, innovative solutions that will positively impact your operations – within accounting and other functions.
We break down the silos between departments: