Joint Interest Billings

Petroleum Accounting Consultants, PLLC can review your Joint Interest Billings to ensure that you are charging out all  of the expenses that you are allowed to under your joint operating agreements.

Most JOA’s allow the operator to make adjustments within 24 months following the end of the calendar year in which the billings are made.

An example of the types of charges that most joint operating agreements allow the operator to bill out are as follows:

1. Salaries and wages of field employees
2. Material purchased or used on the joint property
3. Equipment furnished by the operator
4. Transportation

The previous list is not all inclusive and is only meant to provide you with an idea of the types of expenses that can be billed out to the other working interest owners.

For more in-depth information on what charges can be billed under COPAS contact one of our consultants today.

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Testimonials

"We engaged Petroleum Accounting Consultants, PLLC to review the wells we operate for gross production tax refunds. Petroleum Accounting Consultants, PLLC performed all the work necessary to determine eligibility. All we had to do was sign the forms submitted to the Corporation Commission and Tax Commission. As a result of Petroleum Accounting Consultants, PLLC's work we received substantial refunds of gross production taxes. Petroleum Accounting Consultants, PLLC is continuing to review our workovers and file refund claims for us. We are extremely pleased with their work and professional attitude."

- Phoenix Oil & Gas, Inc. - Jack Nogalski

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Gross Production Tax Refunds

Over the years we have worked with over 70 companies and recovered over $30 million in refunds for those companies. We have obtained refunds for large publicly traded companies and small privately held companies. We have been able to get a a refund of gross production taxes for every client that has retained our services.

Because of our years of experience we are able to obtain these refunds with very little of our clients' time. Based on our experience we are able to identify opportunities that in-house accountants would miss. Outsourcing your gross production tax refunds will result in a larger refund because of our years of experience. Our fees are based on a contingency fee structure so there is no fee is we are not able to recover a refund for your company. Give our office a call today to schedule your free assessment of the refunds that may be available to your company.

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