2024 Archives - Page 4 of 5 - Oil and Gas Outsourcing and Mineral Management

Valor Employee Spotlight | Jeff Rowe

Posted on March 6, 2024 by Valor

Welcome to our Valor Employee Spotlight series! In this edition, we’re thrilled to introduce Jeff Rowe, Senior Data Analyst. Jeff is a vital member of the Valor family and we can’t wait for you to learn more about him!

Background and Experience

Jeff’s professional journey is a testament to his adaptability and passion for continuous learning. As a traveling project accountant, he traversed the country, immersing himself in diverse job sites and serving as a crucial link between those locations and the corporate office. This role not only honed his skills in processes, analytics, systems, and procedures but also ignited his love for these domains. It was amidst this backdrop of constant travel and exploration of new environments that Jeff discovered another passion: programming. In his spare time, he began to delve into the world of coding, demonstrating his eagerness to expand his expertise and embrace new challenges. This combination of practical experience in finance and accounting, coupled with an interest in programming, has equipped Jeff with a unique blend of skills that are highly valuable in the modern workplace.

Role at Valor

In his role as a Senior Data Analyst at Valor, Jeff plays a pivotal role in steering the company towards data-driven decision-making and operational excellence. His primary responsibilities involve analyzing and interpreting complex data sets to unearth actionable insights that guide strategic business decisions and enhance operational efficiency. During a period of unprecedented growth, Jeff has been at the forefront of developing and leading accounting efforts, ensuring the organization scales its financial processes efficiently and effectively.

Jeff’s technical skillset has led to the creation of innovative solutions aimed at automating internal processes and managing expenses more effectively, thereby contributing significantly to the company’s bottom line. His proficiency in VBA, SQL, and the Windows Operating System, along with a deep understanding of the Microsoft Office Suite and Google Workspace, enables him to tailor solutions that fit Valor’s unique needs. Moreover, Jeff’s skills extend to Python custom development, where he leverages this powerful programming language to build bespoke tools and applications that further automate and streamline Valor’s operations.

Jeff’s Favorites

Outside the Office
Outside the office, Jeff enjoys further honing his programming skills, spending time with his wife, and playing video games.

Favorite Drink/Food
Jeff is both a coffee addict and connoisseur, delighting in exploring the diverse world of coffee flavors and brews. When it comes to food, his guilty pleasure is Taco Bell.

What Jeff Loves Most About Valor

Jeff’s favorite aspects of working at Valor revolve around the vibrant work environment and the culture of innovation that permeates the company. He is particularly enthusiastic about going to work every day, not just to tackle the tasks at hand, but to “geek out” on new projects that challenge his skills and expand his knowledge. He also appreciates the personal space and focus that comes with having his space, combined with the company’s provision of all the necessary tools and resources, fosters his creative freedom. This autonomy allows him to explore and implement innovative solutions, making his role at Valor deeply rewarding and aligned with his professional aspirations and personal interests.

Jeff 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 Employee Spotlight | Mimi Keenom

Posted on February 29, 2024February 29, 2024 by Valor

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

Background and Experience

Mimi boasts an impressive background in the oil and gas sector. Her roles have ranged from Lease Analyst and Assistant Land Supervisor to Division Order Manager at esteemed organizations including Quicksilver Resources, Union Pacific Resources, and Clear Fork Royalty. With her extensive experience in land-related matters, Mimi is an invaluable member of the team. She possesses comprehensive knowledge of the oil and gas industry, having worked both for operators and for mineral and royalty owners. Mimi’s exceptional skills in managing the land and division orders departments of major oil and gas corporations set her apart.

Role at Valor

In her role as Senior Manager of Division Orders, Mimi oversees a broad spectrum of responsibilities that bridge land management and division order processes. Her expertise encompasses a significant amount of land-related tasks, ensuring that all aspects of land management align with the intricate division order operations.

Beyond her primary duties, Mimi also takes on responsibilities in banking related to the oil and gas sector, handling financial transactions, and managing fiscal aspects of division orders. Her role involves meticulous attention to detail and a strong grasp of financial principles to ensure accurate and efficient management of funds related to land and mineral rights.

Additionally, Mimi is entrusted with leading special projects that often require innovative solutions and strategic planning. Her ability to manage these diverse responsibilities showcases her versatility, strategic thinking, and leadership capabilities within the complex landscape of the oil and gas industry. Mimi’s comprehensive approach and dedication significantly contribute to Valor’s success, making her an indispensable member of the team.

Mimi’s Favorites

Outside the Office
Outside the office, she finds joy in being outdoors, delving into a good book or tending to her garden.

Favorite Drink/Food
Mimi’s favorite cuisine is Mexican food, particularly from Mi Cocula in Fort Worth. Her go-to nostalgic meal, however, is a savory steak from Cattlemen’s Steakhouse.

What Mimi Loves Most About Valor

Mimi loves Valor most for the freedom it offers to work at her own pace and the enjoyment she finds in the company’s atmosphere and her fellow employees.

Mimi 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!

Navigating Royalty Reporting and Escheatment

Posted on February 27, 2024March 25, 2024 by Valor

In the intricate world of financial regulations, two terms often surface with significant legal implications: royalty reporting and escheatment. As a leading consultant in regulatory compliance, Valor is dedicated to guiding our clients through these complex processes, ensuring full adherence to the law and safeguarding their land and interests.

Understanding Royalty Reporting

Royalty reporting is a critical component for oil and gas companies involved in licensing agreements or those that generate revenue through royalties. It involves the meticulous documentation and reporting of royalties owed or paid to other entities, whether they are individuals, companies, or governmental bodies. This process ensures transparency and compliance with contractual and legal obligations.

Valor’s expertise in this area shines through our personalized services. We assist clients in:

1. Accurate Calculation: Ensuring the correct calculation of royalties based on the agreed-upon terms.
2. Timely Reporting: Facilitating timely reporting to all stakeholders, thereby avoiding legal complications.
3. Audit Preparation: Preparing for and managing audits to verify the accuracy of reported royalties.

Demystifying Escheatment

Escheatment is the process whereby unclaimed property or financial assets are turned over to the state after a certain period of inactivity or lack of contact with the owner. This could include uncashed checks, dormant bank accounts, unclaimed dividends, or forgotten insurance proceeds.

Valor’s role in escheatment includes:

1. Unclaimed Property Management: We help companies and individuals identify and manage unclaimed property on their books.
2. Compliance with Escheatment Laws: Every state has its own set of escheatment laws. Valor ensures that our clients are fully compliant with these diverse and often complex regulations.
3. Return to Rightful Owners: Our team puts in concerted efforts to return unclaimed properties to their rightful owners. When this is not possible, we facilitate the escheatment process to the state as mandated by law.

With years of experience and a deep understanding of regulatory filing and escheatment laws, Valor is a trusted partner in navigating these legal landscapes. We recognize that each client has unique needs. Our team offers tailored solutions to meet these specific requirements. Our foremost priority is ensuring that our clients remain fully compliant with all legal obligations, thereby protecting them from potential legal and financial penalties.

Questions? Need 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.

What is an Oil and Gas Lien?

Posted on February 26, 2024March 25, 2024 by Valor

The world of oil and gas is complex and multifaceted, with its own set of rules, regulations, and financial instruments. One such instrument is the “Oil and Gas Lien”. Understanding this concept is crucial for anyone involved in the oil and gas industry, whether you are a landowner, investor, operator, mineral manager or even a service provider.

What is an Oil and Gas Lien?

At its core, an oil and gas lien is a legal claim or hold placed on an oil and gas-producing property, typically by a creditor. This lien arises when a company working on the property, such as a contractor or supplier, is not paid for the services or goods provided. The lien ensures that the unpaid party has a legal claim to a portion of the property’s value or revenue until the debt is settled.

Types of Liens

Mineral Liens: These are specific to the oil and gas industry and are placed directly on the mineral rights of a property. They ensure that those who provide services or supplies specifically for the extraction of minerals (oil and gas) have a way to secure payment.
Mechanic’s and Materialman’s Liens: While similar to mineral liens, these are broader and can apply to any type of property, not just mineral rights.

Why are Oil and Gas Liens Critical?

Protection for Service Providers

Oil and gas projects often involve large sums of money and multiple contractors and suppliers. Liens provide a layer of financial protection to these entities, ensuring they have a legal avenue to seek payment.

Security for Landowners and Operators

For landowners and operators, understanding and managing liens is crucial. A lien can affect the ability to sell or develop the property and can lead to legal disputes if not properly addressed.

Impact on Transactions

In oil and gas transactions, liens must be carefully considered. They can impact the value of a property and complicate mergers, acquisitions, and other financial dealings.

How Does an Oil and Gas Lien Work?

Filing a Lien: If a service provider is not paid, they can file a lien against the property where the work was performed. This process varies by jurisdiction but generally involves filing specific documents with a local court or legal authority.
Enforcement: Once a lien is filed, it must be enforced, typically through legal action. This can lead to a court ordering the sale of the property to pay off the debt.
Resolution: Liens are often resolved through negotiation and payment, without needing to resort to legal enforcement.

Considerations

The laws governing oil and gas liens vary significantly from one jurisdiction to another. It’s crucial for all parties involved to be aware of the specific legal framework in their area and to seek expert advice when dealing with liens.

Oil and gas liens play a critical role in the financial dynamics of the oil and gas industry. They provide security and assurance to service providers and suppliers, while also posing significant considerations for landowners and operators. Understanding the nuances of these liens is essential for anyone involved in this sector to navigate the complex legal and financial landscape effectively.

Contact Valor Today

Valor Employee Spotlight | Will Allison

Posted on February 22, 2024February 22, 2024 by Valor

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

Background and Experience

A native of Fort Worth, Will Allison received a Bachelor of Arts in Political Science from TCU, then earned his Juris Doctorate from the Texas A&M School of Law – where he was a member of the Phi Delta Phi Honor Society. Prior to joining Valor, Will served as a vice president for JPMorgan Chase Bank’s Domestic Trust Services, which provides operational support for the fiduciary management of specialty assets, including mineral and real estate holdings. During this time, Will had a heavy concentration and focus on software-related analytics and oversight, making him a perfect fit for Valor’s specialty asset management business model. Will began his multi-decade career in the oil and gas industry as a senior client account manager for Holland Services, where he managed large-scale acquisition and investment due diligence, leasing, GIS mapping, and land-related research, most of which occurred in the energy-rich Permian Basin of West Texas. Will is a member in good standing of the American Association of Professional Landmen (AAPL) and the Fort Worth Association of Professional Landmen (FWAPL).

Role at Valor

At Valor, Will plays a pivotal role in both maintaining and nurturing the company’s existing client relationships and overseeing the onboarding of new clients. He works with both Valor’s mineral management and oil and gas operator clients. His responsibilities encompass a wide range of tasks aimed at ensuring client satisfaction and operational excellence. He frequently communicates with current clients, addressing their questions, resolving any issues that arise, and identifying potential opportunities to enhance their assets. Will also supervises the comprehensive onboarding process for new clients, guaranteeing that their onboarding and/or transition to Valor is both smooth and efficient. Additionally, he conducts detailed assessments of client mineral.tech® portals to ensure the uniformity, consistency, and accuracy of ownership information, maintaining the integrity of client data. Will is also tasked with creating monthly reports for clients, providing them with valuable insights and updates on their mineral assets. Furthermore, he collaborates with third parties on behalf of clients, acting as a liaison to facilitate any external processes or services required. Through his diverse range of duties, Will plays an essential role in strengthening client relationships and reinforcing Valor’s commitment to high-quality service.

Will’s Favorites

Outside the Office

Outside the office, Will values the moments spent with his family, enjoying quality time with his wife and their two daughters. He also has a passion for traveling to new places and unwinding with the occasional round of golf.

What Will Loves Most About Valor

What Will appreciates most about Valor is the company’s enthusiastic team environment. When referencing Valor’s culture, he shared “Everyone goes above and beyond to meet company/client expectations. No one is above any task, we all have a ‘get it done’ attitude. We hold ourselves to a higher standard to be an industry leader in client service.” This ethos of collective effort and excellence deeply resonates with him. Additionally, Will thrives on the dynamic and fast-paced nature of Valor’s operations, which keeps his work both challenging and rewarding.

Will 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!

Understanding Royalties

Posted on February 19, 2024March 25, 2024 by Valor

Minerals and oil are valuable natural resources, and when they are found on your property, understanding the concept of royalties becomes crucial. Royalties are a significant part of the natural resource extraction industry, offering a way for property owners to earn from the minerals or oil extracted from their land. In this blog post, we will delve into what mineral and oil royalties are, key considerations, and essential insights for property owners.

What are Mineral and Oil Royalties?

Definition and Basics

Mineral and oil royalties are payments made by an extractor, typically a mining or oil company, to the owner of the mineral rights. These payments are a percentage of the value of the minerals or oil extracted from the land. This means if you own land with valuable minerals or oil reserves, you can earn royalties without actively participating in the extraction process.

Types of Royalties

Flat Royalties: A fixed amount paid per unit of extracted resource, regardless of market price.
Percentage Royalties: A more common form, where the payment is a percentage of the value of the extracted resources.
Sliding Scale Royalties: These vary based on the volume or value of the extracted resource.

Key Considerations

Mineral Rights vs. Surface Rights

Understanding the distinction between mineral rights and surface rights is crucial. In many regions, these rights can be owned separately. This means you could own the land (surface rights) but not the rights to the minerals beneath it.

Legal and Contractual Aspects

Royalty agreements are legally binding contracts. They outline the terms, conditions, and the percentage of royalties. It’s essential to have a clear, well-drafted agreement that addresses potential disputes, the duration of the agreement, and other specific terms.

Market Value and Pricing

The value of royalties fluctuates with the market price of the resource. For oil royalties, factors like global oil prices, production levels, and technological advancements in extraction can significantly impact royalty earnings.

What You Need to Know

Tax Implications

Royalties are considered income and are subject to taxation. The tax treatment of these royalties can be complex, and it’s advisable to consult with a tax professional to understand your obligations.

Environmental Considerations

Extraction activities can have environmental impacts. Be aware of the environmental regulations and potential consequences of extraction activities on your property.

Negotiating Royalties

Negotiation is key. The terms of the negotiated royalty agreement, including the percentage, are not set in stone and can often be negotiated. It’s advisable to seek legal counsel to negotiate the best possible terms.

Long-term Prospects

Consider the long-term implications of allowing mineral or oil extraction on your property. This includes the potential for depletion of resources and impacts on property value.

Monitoring and Auditing

Ensure you have provisions for monitoring and auditing the extraction process. This is crucial to verify that the royalty payments you receive are accurate and fair.

Mineral and oil royalties can be a lucrative source of income for property owners, but they come with a complex set of considerations. Understanding the nature of these royalties, the legal and market factors involved, and the long-term implications are essential. Always seek professional advice to navigate the intricacies of mineral management and oil royalties effectively.

Remember, your land is a valuable asset, and managing it wisely, especially when it comes to natural resources, can lead to significant financial benefits. Stay informed and seek support when negotiating to make the most of your mineral and oil royalty opportunities.

Contact Valor Today

Interested in learning more about how Valor can assist you with managing your royalties? Contact us today and take the first step toward securing your assets.

Valor Employee Spotlight | Ashlyn Barney

Posted on February 12, 2024March 25, 2024 by Valor

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

Background and Experience

Before joining the Valor land team, Ashlyn spent several years working in the oil and gas industry as a Landman. She has experience in acquisitions, divestitures, mineral leasing and title examination. Ashlyn has been heavily involved in multi-billion-dollar acquisitions in various states including Texas, Oklahoma, New Mexico, and Colorado.

Role at Valor

In her current role at Valor, Ashlyn is primarily focused on solving problems for mineral and royalty owners. This includes contacting operators on wells that aren’t being paid, finding new wells the client should be paid on, setting up direct deposits and ensuring all clients get paid in a timely and accurate manner. Additionally, Ashlyn has established relationships with operators/payors to ensure our mineral management clients are paid properly for the assets they own. Her day-to-day responsibilities include corresponding on wells that are in suspense, filing deeds for ownership changes, setting clients up for ACH and making necessary address changes during the onboarding process.

Ashlyn’s Favorites

Outside the Office

Ashlyn cherishes her time outside the office, dedicating it to her family. She loves spending quality moments with her husband, daughter, and son. Ashlyn is particularly passionate about being involved in her daughter’s interests, including junior rodeo events and other sporting events.

Favorite Drink/Food
Ashlyn’s favorite indulgence is a steak and lobster dinner, complemented by a lemon drop martini.

What Ashlyn Loves Most About Valor

“I love Valor because of the great coworkers! I also feel fulfilled when I resolve problems for our clients, especially identifying money that has been held in suspense and resolving title issues. It’s rewarding to make a positive impact in such a direct way.” – Ashlyn Barney

Ashlyn 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!

Navigating Royalty Auditing in Mineral Management

Posted on February 12, 2024March 25, 2024 by Valor

Learn How Valor Ensures Accurate Returns for Clients

In the intricate world of mineral management, understanding and accurately managing royalty payments stands as a crucial aspect. It’s not just about receiving payments; it’s about ensuring every dollar owed is accounted for. In this post, we delve into the vital process of royalty auditing and how Valor, a leader in mineral management, plays a pivotal role in safeguarding the financial interests of mineral rights owners.

Understanding Royalty Auditing

Royalty auditing in mineral management is more than just a financial check-up; it’s a comprehensive review of royalty payments, lease agreements, and production data. This process ensures that mineral owners receive the correct payments in accordance with their lease terms. It involves meticulously examining the volumes, values, taxes, and deductions reported by oil and gas operating companies.

The Importance of Expertise in Royalty Auditing

Given the complexity of royalty statements and the nuances of lease agreements, expertise in this domain is non-negotiable. This is where Valor comes into the picture. With a team of seasoned land and accounting professionals, Valor brings an unmatched level of knowledge and experience in interpreting lease agreements, analyzing royalty statements, and identifying discrepancies.

Valor’s Approach to Royalty Auditing

Comprehensive Analysis: Valor conducts an exhaustive review of royalty statements, cross-referencing them with production reports and lease agreements.
Identifying Discrepancies: The team at Valor is trained to spot any inconsistencies or underpayments, ensuring that mineral owners are not short-changed.
Transparent Communication: Valor believes in keeping clients informed. Regular reports and clear explanations of any discrepancies found are communicated accordingly.
Future-proofing Payments: By rectifying current discrepancies and providing recommendations for future audits, Valor helps mineral owners secure their financial interests for the long term.

Why Choose Valor for Royalty Auditing

Valor stands out as a beacon of trust and expertise in the field of mineral management. Here are the benefits of mineral management and partnering with Valor:

Expert Knowledge: Valor’s team possesses in-depth understanding of the mineral industry’s financial aspects.
Advanced Tools: Leveraging our proprietary mineral management technology, mineral.tech®, Valor offers precise and efficient auditing processes.
Client-Centric Approach: Every client’s portfolio is treated with a unique and personalized approach.
Long-term Partnership: Valor isn’t just a service provider; it’s a partner in ensuring the enduring financial health of your mineral assets.

Royalty auditing is a critical element in managing your mineral assets effectively. With Valor’s expertise, you can rest assured that your financial interests are being vigilantly monitored and protected. Embrace peace of mind in your mineral management journey with Valor as your trusted partner.

Contact Valor Today

Interested in learning more about how Valor can assist you with royalty auditing? Contact us today and take the first step toward securing your mineral assets.

Valor Employee Spotlight | Mackenzie Dougherty

Posted on January 31, 2024March 25, 2024 by Valor

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

Background and Experience

Before joining the Valor team, Mackenzie honed her skills in the world of academia, graduating from Texas A&M with a Bachelor of Science in Interdisciplinary Studies. Her professional journey began in the classroom, where she dedicated herself as a teacher for 1st and 4th graders. This experience in teaching was invaluable, equipping her with exceptional organizational and communication skills that have been crucial in her role at Valor. Mackenzie’s tenure in education required her to wear multiple hats, a challenge she met with enthusiasm and high energy, seamlessly transitioning these abilities into her varied responsibilities at Valor. Her ability to juggle multiple tasks simultaneously and her innate problem-solving skills have made her an indispensable part of the team, enabling her to provide superior support not just internally, but also to Valor’s diverse mineral management & oil and gas operator clientele. This unique blend of experiences has shaped Mackenzie into a versatile and dynamic professional, perfectly suited for the multifaceted demands of her current role.

Role at Valor

Mackenzie, as the Executive Assistant to Valor’s President of Oil and Gas, Matt Autry, plays a role that extends far beyond the traditional responsibilities of managing his schedule and travel accommodations. Her involvement in the company encompasses a wide range of operational aspects, particularly in nurturing a vibrant office culture. Mackenzie is the go-to person for planning and organizing office events, from parties to birthday celebrations and work anniversaries. Her organizational skills and keen eye for detail were also pivotal in the recent renovations of the Valor office, where she played a significant role in enhancing the workspace. Additionally, Mackenzie is instrumental in the onboarding process for new employees, ensuring a smooth and welcoming transition into the company. Known for her proactive and hands-on approach, she is always the first to volunteer for tasks, regardless of whether they fall within her official job description. Her willingness to step in where needed, combined with her dedication to fostering a positive office environment, makes her an invaluable asset to the Valor team.

Mackenzie’s Favorites

Outside the Office

Outside of the office, Mackenzie is a passionate A&M football fan, having attended every home game this past season 2023, showcasing her unwavering team spirit. When not at A&M football games, she can be found attending other sporting events and concerts, or daydreaming of traveling to her favorite spots – Hawaii and the Cayman Islands. She also cherishes spending quality time with her family, friends, and beloved dogs Jax and Charlie.

Favorite Drink/Food

Mackenzie’s favorite dish is fajitas, and when it comes to finding the best in Fort Worth, she swears by Paloma Suerte and The Original as her top go-to spots.

What Mackenzie Loves Most About Valor

“The opportunities afforded me at Valor include the excitement of learning a new industry and the experience and responsibility of solving some of our business challenges. I have had a chance to contribute to Valor during a time of unprecedented growth of the team. The support of my colleagues at Valor has made my transition from the primary education space easy and rewarding.” – Mackenzie Dougherty

Mackenzie 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!

Understanding SOC 1 Type 2 Certification

Posted on January 30, 2024March 25, 2024 by Valor

Valor’s Commitment to Trust and Excellence for Current and Prospective Clients

In the ever-evolving landscape of business operations, trust and security have become paramount, especially when handling sensitive client information and finances. For companies like Valor, achieving the SOC 1 Type 2 certification is not just a badge of honor; it’s a testament to our unwavering commitment to maintaining robust and secure processes. But what does this certification mean, and why is it so crucial for both Valor and our clients? Let’s dive in.

What is SOC 1 Type 2 Certification?

SOC 1 Type 2 is a certification developed by the American Institute of Certified Public Accountants (AICPA). It focuses on a company’s internal controls relevant to financial reporting. Unlike SOC 1 Type 1, which evaluates the suitability of control design at a specific point in time, Type 2 extends this assessment to the operational effectiveness of these controls over a period, usually a minimum of six months. Valor completed both SOC 1 Type 1 & SOC 1 Type 2 certifications in 2022 and 2023.

Key Elements of SOC 1 Type 2

Internal Control over Financial Reporting (ICFR): The certification scrutinizes how a company handles financial data, ensuring that financial reporting is accurate, reliable, and confidential.
Operational Effectiveness: It’s not just about having good processes but also about consistently implementing them effectively over time.
Regular Auditing: Regular, detailed audits are a cornerstone of SOC 1 Type 2, ensuring ongoing compliance and process optimization.

Why Was This Step Crucial for Valor?

For Valor, we are deeply ingrained in handling sensitive client data and financial transactions, therefore this certification was a non-negotiable step towards establishing trust and reliability. Here’s why:

Establishing Trust with Clients

Our clients need assurance that their information is in safe hands. SOC 1 Type 2 certification provides that assurance, signifying that Valor adheres to the highest standards for data security and financial reporting.

Enhancing Internal Processes

The journey to certification necessitated a thorough examination of our internal processes. This introspection wasn’t just about compliance; it was about refining our operations to serve our clients better.

Competitive Advantage

In a crowded market, being SOC 1 Type 2 certified distinguishes Valor from competitors. It’s a clear indicator to current and prospective clients that we prioritize and invest in robust security measures.

Compliance with Regulatory Requirements

For many industries, especially in the oil and gas industry, adhering to specific regulatory standards is not optional. This certification ensures that Valor is not just compliant but ahead of the curve in regulatory compliance.

The Impact on Valor’s Clients

Enhanced Confidence: Clients can engage with Valor knowing that their financial data is managed with utmost integrity and security.
Strengthened Partnerships: This certification often serves as a foundation for stronger, more transparent client relationships.
Assurance of Quality: Clients are assured of the quality and consistency of our services, knowing that our processes have been rigorously evaluated and tested over time.

Achieving the SOC 1 Type 2 certification is not the end of our journey. It is a continual commitment to excellence and improvement. Valor is dedicated to regularly reviewing and enhancing our processes, ensuring that we remain at the forefront of operational excellence and data security. This commitment not only benefits our clients but also propels us forward as a leader in our industry.

In conclusion, SOC 1 Type 2 certification is more than just a compliance achievement for Valor. It is a core part of our mission to establish unwavering trust with our clients and to continually enhance the quality of our services. By achieving this milestone, we are not just saying we value security and trust – we are proving it.

Contact Valor Today

Interested in learning more about how Valor can assist you with oil and gas outsourcing needs? Contact us today and take the first step toward securing your assets.