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Understanding Division Orders for Mineral Interest Owners and Operators

Understanding Division Orders for Mineral Interest Owners and Operators

An inaccurate division order can spell a lot of trouble for all parties involved. Mispayments are not always detected expeditiously, and they can often create practical and legal challenges if they are not resolved quickly. However, the unfortunate reality for operators is that, without thorough oversight, inaccuracies are inevitable, especially when you factor in varying division order laws from state to state. These mispayments are usually caused by simple human error: miscalculations, typos, system errors, ownership analysis errors, and so on.

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Oil and Gas Imbalances: Revenue Recognition

Oil and Gas Imbalances: Revenue Recognition

A major accounting process change that has been on the horizon for years is recognizing revenue. The adoption of Accounting Standards Codification, ASC 606, was enacted in 2014 with a deadline of December 21, 2019 for nonpublic entities to come into compliance....

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All Regulatory Posts

Understanding Division Orders for Mineral Interest Owners and Operators

Understanding Division Orders for Mineral Interest Owners and Operators

An inaccurate division order can spell a lot of trouble for all parties involved. Mispayments are not always detected expeditiously, and they can often create practical and legal challenges if they are not resolved quickly. However, the unfortunate reality for operators is that, without thorough oversight, inaccuracies are inevitable, especially when you factor in varying division order laws from state to state. These mispayments are usually caused by simple human error: miscalculations, typos, system errors, ownership analysis errors, and so on.

Oil and Gas Imbalances: Revenue Recognition

Oil and Gas Imbalances: Revenue Recognition

A major accounting process change that has been on the horizon for years is recognizing revenue. The adoption of Accounting Standards Codification, ASC 606, was enacted in 2014 with a deadline of December 21, 2019 for nonpublic entities to come into compliance....