Valor Employee Spotlight | Hillari Rawls

Welcome to our Valor Employee Spotlight series! In this edition, we’re thrilled to introduce Hillari Rawls, Accounting Manager. Hillari is a vital member of the Valor family and we can’t wait for you to learn more about her!

Background and Experience

Hillari began her academic journey at Abilene Christian University, later earning a Bachelor of Business Administration and a Master of Professional Accountancy (M.P.Ac.) from Angelo State University, where she maintained a 4.0 GPA. While at Angelo State, Rawls distinguished herself as a scholar-athlete, playing basketball and earning the title of 2014 Lone Star Conference Academic Player of the Year. She achieved her certification as a public accountant (CPA) in 2017 and is an active member of the American Institute of Certified Public Accountants (AICPA). Her professional career includes roles such as senior fund accountant and accounting manager at Varagon Capital Partners, a firm specializing in asset management lending for middle-market companies. She has also managed various accounting and analyst responsibilities at BNY Mellon, Oak Hill Advisors, and Whitley Penn. In addition to her professional pursuits, Rawls is committed to her community, participating in numerous charitable campaigns with the Red Shoe Society of Fort Worth.

Role at Valor

In her role at Valor, Hillari is integral to the financial operations for various operator clients. She is responsible for processing accounts payable (A/P), joint interest billings (JIBs), and revenue on a monthly basis. Her attention to detail and comprehensive understanding of accountancy ensure accurate and timely financial reporting, supporting the overall financial health and compliance of the operator clients she serves.

Hillari’s Favorites

Outside the Office
Outside the office, Hillari likes to spend time with her husband and two sons. She enjoys watching sports, especially basketball and football.

Favorite Drink/Food
One of Hillari’s favorite things to do is to explore and try new restaurants in and around Fort Worth.

What Hillari Loves Most About Valor

“What I love most about Valor is the team I work with and the flexibility the company provides. This flexibility is essential for me, especially with two young boys. It truly makes balancing professional and personal life much more manageable.”

Hillari is a remarkable example of the talent we have here at Valor. Stay tuned for more employee spotlights to learn about the incredible individuals who make Valor a great place to work!

Importance of Cloud-Based Mineral Management

The oil and gas industry is continuing to undergo optimizations and advancements, largely driven by technology. Among these, cloud-based solutions are increasingly vital, particularly in the realm of mineral management. These mineral management platforms are revolutionizing how mineral owners track, manage, and optimize their assets.

Real-Time Data Access Anywhere, Anytime

In today’s fast-paced market, the ability to access data in real-time from anywhere in the world is not just a convenience—it’s a necessity. Valor’s proprietary mineral management platform software, mineral.tech®, strived to be ahead of the game and was developed over five years ago. While it is continually updated and evolving, at its core it allows clients to access their mineral interest data 24/7, anywhere in the world. This capability ensures that Valor’s team and clients are always informed and can react promptly to changes in the market, operational conditions or flag inconsistencies and errors regarding payment.

Holistic Portfolio Management

Cloud-based platforms like mineral.tech® offer a comprehensive view of a company on individuals mineral assets. Stakeholders can obtain a holistic understanding of their portfolios, which facilitates more strategic decision-making. The mineral management platforms ability to drill down into detailed views of interests, tracts, units, and wells provides a granularity that was difficult to achieve with traditional management systems or outdated paper maps and paper filing systems. This level of detail is crucial for thorough asset management and strategic planning.

Tracking and Analysis

One of the most significant advantages of using a cloud-based mineral management system is the capability to track and analyze various financial aspects. Clients can monitor monthly revenue streams from working interests, lease operating expenses (LOE), and royalty revenue. Such tracking ensures that all financial records are up-to-date and accurate, aiding in better financial planning and compliance with regulatory requirements.

Benefits to Stakeholders

While we know it can be daunting to leave old ways of mineral management in the past, the transition to cloud-based solutions offers numerous benefits:

  • Efficiency Improvements: Automating data collection and processing reduces the need for manual entry, decreasing the likelihood of errors and increasing operational efficiency.
  • Scalability: Cloud platforms can be easily scaled up or down based on the needs of the individual or business, allowing for flexibility as interests owned and managed expand or contract.
  • Enhanced Security: Advanced security measures and data backups are standard features of reputable cloud-based solutions, such as mineral.tech®, ensuring that critical business data is protected against loss and hacking. Valor is proud to have achieved both a SOC 1 Type 1 and Type 2 audit and certification, further instilling confidence in our clients that their data and financial information are secure.

The shift towards cloud-based mineral management programs such as mineral.tech® is indicative of broader trends within the oil and gas industry toward digitization and operational efficiency. By adopting these modern technologies, companies not only streamline their operations but also gain strategic advantages in a competitive marketplace. This move is not just about keeping up with technology—it’s about staying ahead in a rapidly evolving industry.

By embracing cloud-based systems, the mineral management sector is setting a new standard for efficiency and strategic management, ensuring mineral owners and managers can make the most informed decisions for their financial and operational success.

Contact Valor Today

Contact us today to learn more about our mineral management platform solutions.

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.

Valor Employee Spotlight | Jason Beck

Welcome to our Valor Employee Spotlight series! In this edition, we’re thrilled to introduce Jason Beck, Director of Mineral Management. Jason is a vital member of the Valor family and we can’t wait for you to learn more about him!

Background and Experience

Jason graduated from West Texas A&M University with a Bachelors Degree in Agricultural Business & Economics. He went on to continue his education by completing the Executive Education Program – Petroleum Land Management from Texas Christian University. He possesses over two decades of experience in the oil and gas industry and holds two certifications – Certified Professional Landman (CPL) and a Certified Trust and Financial Advisor (CTFA). Prior to working at Valor, Jason worked at Happy State Bank as their Assistant Vice President/Trust Officer and JPMorgan Chase as their Executive Director/Regional Manager Mineral Asset Management. In his role at JPMorgan Chase, Jason acted as the primary mineral manager for their trust, agency and foundation accounts holding oil, gas, and minerals assets. Jason’s experience in mineral management for banks perfectly equipped him to work with Valor’s various bank and foundation clients.

Role at Valor

In his role at Valor, Jason currently guides a mineral management team, aligning objectives with the organization’s strategy and ensuring optimized client deliverables. With his profound knowledge of land management, laws, regulations, contract negotiation, investments, data analysis and portfolio management, he has been hugely instrumental in helping Valor optimize their mineral management services and proprietary software, mineral.tech®. He is responsible for implementing stringent quality control measures in financial reporting and land management, ensuring compliance with both industry regulations and company policies. This role also involves leading process improvement initiatives that align with strategic objectives, aimed at enhancing organizational efficiency and effectiveness. Additionally, he is committed to the ongoing training and development of team members, continually enhancing their skills and knowledge to maintain high standards of performance.

Jason’s Favorites

Outside the Office
Outside the office, Jason enjoys spending time with his family, including his wife and two daughters. He also loves to spend time in the outdoors, whether it be skiing in the mountains, boating on the lake, hunting or fishing.

Favorite Drink/Food
The native Texan enjoys a good steak and a whiskey above all else.

What Jason Loves Most About Valor

“What I love most about Valor is the people and being part of an organization that not only grows rapidly but also continues to expand its services, employees, and clients. It’s awesome to see our progress and to be part of this.” – Jason Beck, Valor Director of Mineral Management.

Jason is a remarkable example of the talent we have here at Valor. Stay tuned for more employee spotlights to learn about the incredible individuals who make Valor a great place to work!

Valor SOC 1 Type 1 & 2 Certifications

In today’s digital age, where information security and data protection are paramount, organizations across the globe are increasingly required to demonstrate their commitment to these principles. One of the key ways businesses can showcase their adherence to high standards of security and data management is through a Service Organization Control (SOC) audit.

In a move to underscore our unwavering commitment to security, data protection, and client trust, Valor is proud to have successfully achieved both SOC 1 Type 1 and SOC 1 Type 2 audits and certifications. This milestone is a testament to the rigorous standards we uphold in managing our clients’ assets and the emphasis we place on maintaining a secure and trustworthy environment. Valor aims to provide our current and prospective clients with the highest level of assurance regarding our control environments. Achieving both Type 1 and Type 2 certifications not only demonstrates our capability to design effective controls but also affirms their operational effectiveness over time. It’s a clear indicator of the value we place on building and maintaining trust, showcasing our leadership in setting industry standards for data protection and client service.

But what exactly is a SOC audit, and how do SOC 1 Type 1 and SOC 1 Type 2 audits differ? Let’s dive into these questions to provide a better understanding.

What is a SOC Audit?

A SOC audit is a standardized procedure for evaluating the extent to which a service organization conducts its business in accordance with certain trust principles. These principles revolve around security, availability, processing integrity, confidentiality, and privacy of the system used to process users’ data. Conducted by independent auditors, SOC audits result in a report that provides valuable information regarding the effectiveness of a service organization’s controls related to these principles.

SOC audits are categorized into three types: SOC 1, SOC 2, and SOC 3, each serving different purposes and audiences. SOC 1 audits, specifically, focus on the controls at a service organization that may impact clients’ financial reporting. This type of audit is crucial for the service organization’s clients who need assurance about the security and processing integrity of the data managed by the service provider.

SOC 1 Type 1 vs. SOC 1 Type 2

When we talk about SOC 1 audits, it’s essential to understand the distinction between Type 1 and Type 2 reports, as they serve different objectives and offer varying levels of insight into the organization’s controls.

SOC 1 Type 1

A SOC 1 Type 1 audit is a snapshot of the service organization’s systems and the suitability of the design of its controls at a specific point in time. This type of report assesses whether the service organization’s controls are properly designed to achieve the desired objectives. However, it does not evaluate the effectiveness of these controls over a period of time. The main purpose of a SOC 1 Type 1 report is to provide assurance about the control design to the service organization’s clients and their auditors.

SOC 1 Type 2

In contrast, a SOC 1 Type 2 audit is more comprehensive. It not only assesses the suitability of the design of controls but also evaluates the operational effectiveness of those controls over a defined review period, typically no less than six months. This type of report provides an in-depth analysis of the service organization’s controls, including detailed testing of the controls’ effectiveness over time. A SOC 1 Type 2 report is particularly valuable for clients and their auditors because it offers assurance that the controls are not only appropriately designed, but also consistently applied.

Both SOC 1 Type 1 and SOC 1 Type 2 audits play crucial roles in the landscape of information security and financial reporting. While a Type 1 audit provides a snapshot of control design at a specific point in time, a Type 2 audit offers a more detailed and ongoing assessment of control effectiveness.


Contact Valor Today

Contact us today to learn more about our oil and gas outsourcing services.

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.

Valor Employee Spotlight | Dustin Proctor

Welcome to our Valor Employee Spotlight series! In this edition, we’re thrilled to introduce Dustin Proctor, Staff Landman. Dustin is a vital member of the Valor family and we can’t wait for you to learn more about him!

Background and Experience

Dustin graduated from Hardin Simmons University in Abilene Texas. During his time at HSU he balanced his academic pursuits with his commitment to the university’s football team as an All-American collegiate quarterback. His experiences at HSU laid a solid foundation for his personal and professional growth. After college, he transitioned into the workforce as a supervisor and consultant, applying his diverse skillset across various industries.

Role at Valor

Since joining Valor in 2019 as a Registered Landman on the land team, Dustin has been instrumental in managing mineral assets for our clients. His work involves onboarding new clients, mapping their assets accurately, and ensuring lease details are meticulously inputted into Valor’s mineral management software, mineral.tech®. Dustin plays a crucial role in providing clients with a clear, comprehensive understanding of their mineral holdings.

Dustin’s Favorites

Outside the Office
Outside the office, Dustin enjoys spending time with his family and friends. He also has a passion for golf, and gets in as many rounds as he can when he isn’t busy with his two children and wife.

Favorite Drink/Food
Dustin’s favorite foods include cooking steaks and chili for gatherings, complemented by his preferred drink of vodka and Sprite.

What Dustin Loves Most About Valor

Dustin is drawn to Valor for its culture and the camaraderie among his colleagues. He finds the workplace environment and team spirit to be the key factors that make his job truly enjoyable.

Dustin is a remarkable example of the talent we have here at Valor. Stay tuned for more employee spotlights to learn about the incredible individuals who make Valor a great place to work!

The Importance of Monthly Monitoring for Mineral Owners

Production Reporting, Visual Insights and Solutions for Mineral Owners

In the ever-fluctuating landscape of the mineral industry, staying informed about the volume of your mineral production and the current commodity pricing is not just beneficial, it’s essential. For mineral owners, having a detailed, month-over-month analysis provides a comprehensive view of your assets’ performance, enabling proactive management and strategic decision-making. At Valor, we understand the significance of this visibility and offer tailored solutions to ensure our clients can easily navigate the complexities of mineral ownership.

Why Frequent Monitoring Matters

1. Identifies Problems Early: Having access to regular monitoring and reporting of production volumes and commodity prices can alert you to discrepancies or sudden changes in your wells’ performance. Early detection of these issues allows for timely investigation and resolution, preventing potential revenue loss.

2. Facilitates Accurate Forecasting: With the volatile nature of commodity markets, having up-to-date information is crucial for accurate revenue forecasting. Month-over-month tracking enables mineral owners to anticipate cash flows based on current market conditions, allowing for better financial planning and investment decisions.

3. Enhances Decision Making: Access to current data empowers mineral owners to make informed decisions regarding their assets. Whether it’s evaluating the profitability of new drilling opportunities or considering the sale of certain mineral rights, having a clear understanding of your assets’ current and potential value is invaluable.

Valor’s Comprehensive Solutions

At Valor, we’ve developed a proprietary mineral management platform, mineral.tech®. This state-of-the-art platform was designed specifically for mineral owners. Our system not only provides you with the critical data you need but also visualizes it in an easily digestible format. Here’s how we make a difference:

Visual Data Display: Our team utilizes mineral.tech® to generate detailed overviews on a well-by-well basis as well as aggregate data for your entire portfolio. This visual representation allows for easier comprehension of trends, making it simpler to identify areas of concern or opportunity.

Graph Creation: With mineral.tech®, you can see custom graphs that highlight the specific information you’re interested in. Whether you want to examine the performance of a single well over time or compare the output of your entire portfolio, our platform provides the flexibility to tailor your analysis to your needs.

Missing Check Payment Reports: An added layer of service and support Valor provides is our monthly missing check payment reports. These reports are crucial for ensuring that all payments due to you are accounted for. If a payment is missing, our team promptly investigates and rectifies the issue, safeguarding your revenue stream. This feature within the platform has helped to identify ample revenue that was being held in suspense for various clients.

Conclusion

For mineral owners, the importance of frequent monitoring of production volumes and commodity pricing cannot be overstated. It’s the foundation of effective asset management, providing the insights needed to maximize profitability and mitigate risks. At Valor, we’re committed to providing our clients with the tools and support they need to succeed in the dynamic mineral industry. Through our innovative mineral.tech® platform and dedicated team, we offer a seamless solution for visualizing your assets’ performance and ensuring your financial interests are protected. Let Valor help you unlock the full potential of your mineral ownership.


Contact Valor Today

Contact us today if you need support with mineral management.

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.

Valor Employee Spotlight | Teresa Hathcock

Welcome to our Valor Employee Spotlight series! In this edition, we’re thrilled to introduce Teresa Hathcock, Senior Accountant. Teresa is a vital member of the Valor family and we can’t wait for you to learn more about her!

Background and Experience

Teresa boasts an impressive background with nearly two decades of industry experience, focusing on oil and gas revenue accounting. She embarked on her career journey by working for upstream operators, where she gained initial industry exposure. She furthered her experience in the industry when she joined an oil and gas company, expanding her skill set by learning to file severance taxes and perform reconciliations.

Her career trajectory eventually led her to a permanent role as a Revenue Accountant, a position where she demonstrated her proficiency in a wide range of software and tools. Teresa is skilled in Microsoft Excel, Word, and Outlook, as well as Dropbox and Google’s suite of services including Drive, File Stream, Sheets, and Email. Additionally, she has developed expertise in industry-specific accounting software such as Excalibur / Nexgen V6 & V8 and Artesia (AS400 system), along with other platforms.

Role at Valor

Teresa joined Valor’s team more than three years ago and has since become an instrumental part of the organization, particularly in supporting mineral management clients. She plays a huge role in the onboarding process for these clients, ensuring a smooth and efficient transition. Teresa is responsible for pulling all digital checks for Valor’s clients, and processing them to ensure they are ready for the mineral management accounting team to review and upload into mineral.tech® for client visibility. Teresa has learned and optimized Valor’s custom programs that help prepare files for the accounting team. She also plays a key role in ensuring that programs are correctly coded for revenue-related bookings, highlighting any discrepancies that stand out. Furthermore, Teresa is tasked with pulling all checks and accurately inputting checks and JIBs, showcasing her attention to detail.

Teresa’s Favorites

Outside the Office
Outside of work, Teresa enjoys spending time with her friends and family. She makes it a point to visit Montana annually, where she explores its parks and enjoys the natural scenery.

Favorite Drink/Food
Teresa’s favorite meal is Chick-fil-A nuggets with honey mustard sauce, paired with sweet tea, and a frosted sugar cookie topped with sprinkles for dessert.

What Teresa Loves Most About Valor

What Teresa loves most about working at Valor is the sense of camaraderie and the people she works with, alongside the opportunity to continually learn new programs and skills. She appreciates that her learning never becomes stagnant, and there are always new things to explore and opportunities for growth.

Teresa is a remarkable example of the talent we have here at Valor. Stay tuned for more employee spotlights to learn about the incredible individuals who make Valor a great place to work!

Top 5 Questions from Mineral Owners

Valor’s Director of Business Development, Aaron Calhoun, addresses the top 5 questions he gets asked most offten by prospective mineral management clients

Our team frequently receives questions from prospective clients who are seeking expert support in managing their mineral assets. These inquiries cover a wide range of topics, from understanding mineral rights ownership to maximizing revenue and ensuring compliance with legal and regulatory requirements. Recognizing the importance of these concerns, we’ve dedicated this blog to addressing these questions head-on. Our aim is to provide clear, insightful answers that not only help demystify the complexities of mineral rights management but also illustrate how our services can offer valuable support. Whether you’re new to mineral ownership or looking to optimize the management of your assets, this blog is designed to answer your top questions.

1. Will Valor ensure I am being paid correctly on my mineral assets?

Answer: Yes. At Valor, ensuring you are being paid correctly on your mineral assets is a fundamental part of our service. We conduct thorough royalty audits and closely monitor payment statements from operators to verify that you receive every dollar you are entitled to. Our proprietary mineral management software, mineral.tech®, allows us to run pay status reports and discover missing payments. Our team also cross-references production reports, sales data, and lease agreement terms to ensure accuracy in royalty calculations and payments. If discrepancies are found, we take immediate action to rectify them on your behalf. Additionally, our team stays informed on market trends and legal changes that could affect your revenue, ensuring that your payments reflect the current value of your assets. Our proactive approach and attention to detail mean you can have peace of mind knowing that your mineral assets are being managed diligently and profitably.

2. Can Valor help increase the revenue from my mineral rights?

Answer: Valor leverages extensive industry knowledge and relationships, market intelligence, proprietary mineral management software and strategic negotiation skills to secure the most favorable lease terms and royalty rates for our clients. By actively managing leases, monitoring market trends, and advocating for your interests, we aim to increase revenue from your mineral rights. Additionally, our expertise in legal and regulatory compliance can help avoid costly penalties and ensure that your assets are managed efficiently. Lastly, while our team might not “increase” your revenue, we often recover suspended funds that mineral owners are unaware of. These discoveries can help mineral owners gain access to money that is rightfully theirs.

3. Can I still be involved in decision-making if I outsource the management of my mineral rights to Valor?

Answer: Of course. We always consult with our clients before proceeding with any decisions regarding their assets. Our goal is to manage and optimize day-to-day operations and work with you as much or as little as you desire. We believe in maintaining an open line of communication and ensuring that you are fully informed about and comfortable with the decisions being made about your mineral rights. Your involvement in the decision-making process is crucial to us, as it helps ensure that our actions align with your goals and expectations.

4. What access will I have to my revenue and land records?

Answer: Our proprietary mineral management software, mineral.tech®, provides our clients with comprehensive access to their revenue and land records. This innovative platform allows you to see all your land assets accurately mapped and offers digital access to any corresponding documents, such as deeds, lease agreements, and royalty statements. Furthermore, you can track your revenue down to the well, product, county, state, and payor. This level of detail and transparency ensures that you have a clear and complete understanding of your mineral rights portfolio and its performance at all times.

5. What is Valor’s fee structure for mineral rights management?

Answer: Fees for mineral management vary on the scope of work (SOW) and services requested by prospective clients. Our team prepares personalized quotes for onboarding and monthly management. For example, a client who utilizes our land management, mineral.tech® software, accounting, scanning and mail services will likely have a higher fee than a client who utilizes us solely for mineral management accounting. Valor’s fees are not based on a percentage of gross revenue that our clients make.  Our estimates, quotes and ultimately our monthly invoice is billed by the hour for the work performed. Unlike other mineral management companies, we do not make a percentage of money off your revenue. Our goal is to bring value to your assets through our proactive approach to managing these assets for you.


Contact Valor Today

Do you need help managing your minerals? If so, 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.

Valor Employee Spotlight | Skye Estes

Welcome to our Valor Employee Spotlight series! In this edition, we’re thrilled to introduce Skye Estes, CPL, Land Manager. Skye is a vital member of the Valor family and we can’t wait for you to learn more about him!

Background and Experience

Skye, a graduate of the University of North Texas, embarked on his career as a Landman shortly after graduating. From 2014 to 2020, he served as a Contract Landman, where he specialized in title work and embraced the responsibilities associated with land management. This foundational period was marked by a deep dive into the intricacies of land rights and research, laying a solid groundwork for his future endeavors. In 2020, Skye joined the Valor team as a Staff Landman, a role that allowed him to further hone his skills and expertise in the industry. Demonstrating remarkable dedication and ambition, Skye was promoted to Senior Landman in 2022. Through motivation and guidance from his leadership team at Valor, Skye pursued and achieved his Certified Professional Landman (CPL) designation in December 2023. This notable accomplishment underscored his commitment to professional development. Skye’s initiative to leverage Valor’s education and certification sponsorship opportunities played a crucial role in his successful completion of the credentialing process, as well as earning another promotion to Land Manager, marking a milestone in his career.

Role at Valor

In his role as a Land Manager, Skye has taken on a myriad of responsibilities that underscore his expertise in land and mineral management. As a skilled mineral manager, his responsibilities extend to offering crucial insights regarding clients’ mineral rights that support their informed decision-making. His adept management of title-related tasks ensures accuracy and compliance, particularly in matters of interest type and ownership.

Skye is instrumental in overseeing the comprehensive onboarding process for new clients, ensuring a seamless integration into the company’s proprietary mineral management software, mineral.tech®. His strategic efforts in integrating and mapping tracks and units into mineral.tech® significantly enhances client engagement, review processes, and operational efficiency. By inputting and organizing lease details into a client-accessible portal, he plays a key role in facilitating well-informed decisions by clients. Skye’s ability to digest information and share insightful takeaways for clients showcases his expertise and dedication to understanding their needs. Furthermore, his thorough assessments of client portals lead the way in implementing and overseeing corrective actions, ensuring uniformity, consistency, and absolute accuracy of ownership information. Regular audits under his direction validate these efforts, cementing his pivotal role as a Land Manager in the realm of mineral management.

Skye’s Favorites

Outside the Office

Outside the office, Skye enjoys spending time with his family, fully embracing the joys and challenges of life with a newborn. He’s also an avid fan of attending Texas Rangers games, a pastime made even sweeter with tickets courtesy of Valor, and enjoys exploring local breweries. Amidst these activities, Skye’s most unique hobby is his dedication to yard work.

Favorite Drink/Food
Skye’s ultimate meal is a perfectly cooked smash burger and tots; finishing the night with a classic Old Fashioned.

What Skye Loves Most About Valor

Skye’s favorite aspect of working at Valor is the strong sense of teamwork and collaboration. He values a culture where everyone comes together to accomplish projects, moving away from the isolation of working solo to engaging with others toward shared goals.

Skye is a remarkable example of the talent we have here at Valor. Stay tuned for more employee spotlights to learn about the incredible individuals who make Valor a great place to work!

Streamlining Oil and Gas Production Reporting

In the dynamic world of oil and gas operations, efficient and accurate production reporting stands as a cornerstone of successful management and regulatory compliance. Valor is at the forefront of providing solutions tailored to enhance the production reporting process for oil and gas operators. Our services are designed to tackle the challenges of production reporting head-on, ensuring operators can maximize efficiency, ensure compliance, and make informed decisions. Let’s delve into what production reporting is, its importance and how Valor can help.

What is Production Reporting?

For operator services, production reporting encompasses several key activities:

  • Data Collection: Gathering accurate and timely data on the volume of hydrocarbons and water produced from each well. Modern technologies can facilitate real-time data collection directly from the wellhead.
  • Data Analysis: Analyzing this data to identify trends, optimize production, and assess the performance of each well. This can involve comparing expected versus actual production volumes and understanding the reasons for any discrepancies.
  • Regulatory Compliance: Submitting detailed production reports to relevant regulatory bodies to comply with local, state, and national regulations. These reports are crucial for demonstrating compliance with environmental standards, paying appropriate taxes, and fulfilling royalty obligations.
  • Financial Reporting and Forecasting: Using production data to inform financial statements, investor reports, and operational forecasting. This includes estimating future production volumes, revenues, and assessing the economic viability of assets.

Why is Production Reporting Important?

1. Regulatory Compliance: Regulatory bodies require detailed production reports to ensure that operations are conducted responsibly and that appropriate royalties and taxes are paid. Compliance avoids legal penalties and sustains good standing within regulatory frameworks.

2. Operational Efficiency: Regular, accurate production reporting allows operators to monitor the performance of their wells closely, identifying issues such as equipment failures or declines in reservoir productivity early. This can lead to timely interventions that restore or enhance production levels.

3. Financial Management: Production data directly impacts an operator’s financial performance. Accurate reporting ensures that operators can reliably track revenue, manage cash flow, and make informed decisions about investments, operations, and strategic planning.

4. Strategic Decision Making: By analyzing production data over time, operators can identify trends and opportunities for optimization, such as the potential for enhanced oil recovery techniques or the need to adjust development plans. This supports more strategic, data-driven decision-making.

5. Stakeholder Confidence: Transparent and accurate production reporting builds trust with stakeholders, including investors, partners, and the public. It demonstrates operational competence and financial viability, which are crucial for attracting investment and maintaining a company’s reputation.

6. Environmental Stewardship: Through detailed production reporting, operators can also monitor and manage their environmental impact, ensuring compliance with regulations designed to protect ecosystems and reduce carbon footprints. This is increasingly important in the context of global efforts to address climate change and promote sustainable energy practices.

Valor’s Added Value

Valor’s dedicated oil and gas outsourcing team specializes in handling the intricacies of production reporting for oil and gas operators, offering a seamless, efficient solution that significantly reduces the burden on operators. Our team is equipped with the latest technology and in-depth industry knowledge, ensuring that all aspects of production reporting—from data collection and analysis to regulatory submission and financial forecasting—are managed accurately and in compliance with all relevant laws and regulations. By entrusting Valor with this critical function, operators can reallocate their time and resources towards core operational activities, focusing on optimizing production and exploring new opportunities without the overhead of managing complex reporting requirements. Valor’s outsourcing services not only ensure regulatory and financial compliance but also provide operators with peace of mind and the freedom to pursue strategic objectives, secure in the knowledge that their production reporting is in expert hands.

Conclusion

In an industry where efficiency, compliance, and informed decision-making are paramount, Valor stands as a beacon of support, offering oil and gas operators the tools they need to succeed. Our production reporting solutions are designed with the operator’s needs in mind, ensuring that every aspect of production reporting is covered, from regulatory compliance to financial transparency. Let Valor empower your operations with the clarity and efficiency needed to thrive in today’s competitive oil and gas landscape.


Contact Valor Today

Contact us today if you need support with managing your production reporting.

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.