In the dynamic and intricate world of oil and gas, operators and investors constantly navigate through a maze of challenges and opportunities. At Valor, we understand that venturing into outsourcing within this sector requires a partner who not only comprehends the complexities but can also offer tailored, efficient solutions. Therefore, we wanted to address the most common questions we receive from prospective clients about our oil and gas outsourcing services. From operational efficiencies to access to a flexible workforce and everything in between, our goal is to provide you with insights and answers that help you make informed decisions.
1. Does Valor handle Accounts Payable (AP) and cutting checks on behalf of operators?
Answer: Yes. At Valor, we manage accounts payable and processing payments on behalf of our oil and gas operator clients. Our services are designed to ensure that all vendor payments are managed efficiently, guaranteeing timely settlements that keep your operations running smoothly. We understand the importance of accuracy and promptness, which is why our process for invoice handling is streamlined and meticulous. By entrusting us with your AP needs, you can focus on your core business activities while we take care of ensuring your vendors are paid accurately and on time.
2. Will Valor handle issuing 1099s to vendors and mineral owners?
Answer: Yes. Valor takes the responsibility of issuing 1099 forms to both vendors and mineral owners, ensuring compliance with tax regulations for our oil and gas operator clients. We understand the critical importance of accurate and timely tax document preparation and distribution. By entrusting Valor with this task, operators can rest assured that their 1099 obligations are managed professionally, allowing them to focus on their core operational activities without the hassle of tax season worries.
3. Does Valor maintain Division of Interests (DOI)?
Answer: Yes. Valor fully supports Division of Interest (DOI) management on behalf of operators. We handle everything from setting up and maintaining accurate DOI records, integrating with existing accounting systems, to ensuring compliance with regulatory standards. Our services include verifying ownership titles, resolving disputes, and making necessary adjustments due to changes in ownership. With advanced software and a robust experienced team, Valor efficiently manages DOI, ensuring that all financial distributions are accurate and that your operations remain compliant with all legal requirements. This comprehensive management allows operators to focus on their core activities, confident that their DOI is in expert hands.
4. Does your team support one-off projects?
Answer: Yes. Valor does support one-off projects for operators. Our team is equipped to handle specific, tailored projects according to your unique needs, ensuring expert management and timely completion.
5. How does Valor handle communication and collaboration with a client’s in-house team?
Answer: Our goal is to act as an extension of your team. At Valor, we prioritize seamless communication and collaboration with our clients’ in-house teams. We establish clear communication channels from the outset, ensuring that all project updates, decisions, and necessary information are shared promptly and transparently.
Contact Valor Today
Do you need oil and gas outsourcing support? Contact us today.
The information provided by Valor in this blog is for general informational purposes only, not to provide specific recommendations or legal or tax-related advice. The blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
