SERVICES
Initial Production Reporting Consultation
Initial production reporting consultation to determine the number of well completions, types of wells, production characteristics, and State/Federal reporting requirements specific to your company for both the Federal and/or State production reports can be done online, on the phone, or in your office (if within 50 miles of Farmington, NM). Set-up for your data is always done FREE of charge, and additional informational requirements (15 minutes or less) is also FREE.
One (1) hour limit.
This service is absolutely FREE!
FEDERAL "OGOR" FORM-4054 REPORTS
We process the oil beginning and ending inventories, produced, oil sales, tank drains, other disposition volumes, and gravity; the gas produced, sold, vented/flared, used-on-lease, and the disposition volumes; the water injected volumes; and the water produced and disposed of volumes with your raw data.
By using our uniquely designed database, customized with the ability to coordinate with your electronic data systems, we can electronically prepare, and if you wish, file the Office of Natural Revenue Resources (ONRR) OGOR form (ONRR-4054) for your company. All forms will then be turned over to your company at the close of the reporting month.
$15 per completion per month
STATE PRODUCTION REPORTING
Using that same uniquely designed database, we can prepare (either electronically or on paper) the following Production Reports for oil, gas injection or water as appropriate: We can then file them, if you wish, at no extra cost to your company.
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Arkansas "Form-7"
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Colorado "Form-7"
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Montana "Form-5" and "Form-5B"
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New Mexico "C-115"
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North Dakota "Form-7"
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South Dakota "Form-5"
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Utah "Form-10" and "Form-11"
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Wyoming "Form-2"
$15 per completion per month
MONTHLY PRODUCTION REPORTING
Monthly Production Reports are the culmination of compiling all of the relevant oil, gas, injection, disposal, and water information required by each agency. Below is a partial listing of the many forms that we can prepare and file for you company.
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The initial regulatory and reporting consultation is always FREE. (1 hour limit)
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Well data setup in our system is FREE.
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We certify our reports compiled with your raw data is accurate, or your money back, guaranteed!
AUDIT SUPPORT
We fully and completely guarantee the accuracy of our agency reports. If for any reason you find that your company is being audited, we will assist you in documenting the records used, and responding to whatever inquiries are raised to that agency. This applies only to the records for the production months/years we prepared.
Absolutely FREE!
STATE / TRIBAL TAX & FEE REPORTS
Most, if not all, States regulate some form of payment in the form of taxes on the value of the oil and gas produced from their jurisdiction. We will prepare the required forms accurately and direct them to your company to be submitted with their respective remittances.
$75 per hour
FEDERAL "Royalty" FORM-2014 REPORTS
Royalties are required to be paid on all Onshore Federal and Indian (Tribal and Allotted) leases, communitization agreements, and units.* We have the ability to use well production volume data and accurately prepare the Federal Form-2014, with the valuation information from your specific area, using whatever allowances are available to your company to get you the largest benefit on royalty payments possible. Once the 2014 form is completed, we will direct it to your company to be submitted with the remittance.
$75 per hour
ROYALTY AND TAX INCENTIVE REBATES
Many agencies believe that by providing production incentives such as reduced royalty rates, reduced production taxes or tax credits, oil and gas reserves that may have previously been uneconomic to produce may become economic. Below are a few of the many incentives we work with, there are many more States with Credits to be refunded. We can Help!
Federal Incentives
* Reduction of Royalty on Heavy Oil * Royalty Relief for End-of-Life Leases
* Reduction of Federal Royalty on Stripper Oil Wells * Prepayment of Royalty or Accounting and Auditing Relief
Colorado
* Stripper Wells Exemption * Crude Oil Inactive Exemption
* Ad Valorem Tax Credit * Impact Assistance Credit
New Mexico
* Enhanced Recovery Severance Tax Partial Exemption * Workover Wells Partial Tax Exemption
* Inactive Wells Production Restoration Partial Tax Exemption
* New Wells on Indian Lands Tax and/or Equipment Credit
* Jicarilla Apache Tribal Capital Improvements Tax Credit
* Low Production Wells Reduced Royalty Rate * Stripper Wells Partial Tax Exemption
Utah
* New Production Tax Exemption * Stripper Well Exemption
* Annual Field Severance Tax Exemption * Wildcat Well Exemption
* Workover/Recompletion Tax Credit * Horizontal Drilling Operator Refund
* Enhanced Recovery Projects Tax Rate Reduction
Wyoming
* Previously Shut-In Well Tax Rate Reduction * Stripper Well Reduced Tax Rate
* New Well Production Reduced Tax Rate * Tertiary Recovery Well Tax Exemption
* Workover and Recompletion Wells Tax Exemption
$75 per hour, $250 minimum
ROYALTY / TAX / FEE REPORTS
After the regulatory production reports are submitted, the various Federal and State agencies require oil and gas operators to pay royalties and/or taxes based on the quantity, quality, and value of the oil and gas produced and sold. We can help your company do this efficiently and accurately.
OTHER SERVICES
Call us to get more information!
SUNDRY NOTICES (Federal and State)
Sundry Notice forms to both Federal and State agencies can be prepared and filed by us for your company. Federal Sundry Notices are required to be filed online using the Well Information System (after the BLM approves a completed "Operator Account Request form). State Sundry Notices are required to be filed either online or hardcopy submission, depending upon the individual State statutes.
$50 per hour
APDs (Federal and State)
We can prepare and file Applications for Permit to Drill (APD) forms (and/or the equivalent State form) to both Federal and State agencies for your company. For Federal APD, we can file them for you online using the new online AFMSS2 computer system (after the BLM approves a completed "AFMSS2 Operator Account Request form), which replaced the old WIS system. The new Federal regulations require that all Sundry Notices and APD's be filed under this system beginning January 17, 2017.
$75 per hour
REGULATORY COMPLIANCE CONSULTATION
Our staff can assist you, both in-house or in-the-field with all of your regulatory compliance questions or concerns. On-site employee training is also available to assist your company in bringing field locations into compliance with Federal and/or State regulations.
Please visit the "Documents" tab of our website to download the NEW regulatory documents!
Prices vary depending upon the time requested and number of people participating in the consultation.
$90 - $120 per hour
SYSTEMS ANALYSIS / DATABASE DESIGN
With two decades experience in oil and gas data systems, we can offer the following consultation services to your company to increase office efficiency, optimize production, and increase profitability:
Regulatory and Reporting Systems Analysis
Regulatory & Reporting Specialists LLC will come into your office/company and review your production systems in a step-by-step process. We will then analyze those systems, and provide recommendations that will reduce multiple-step processes and repeat-step processes. We will then provide you with examples of simple programs (like MS Excel or Access) that will increase efficiency in your office.
Database Design and Implementation
After the Systems Analysis is completed, we can design, develop and implement a database program specifically tailored to the needs and expectations of your special company. All of the design, development, and implementation will be done with your involvement and input at every step of the way, so that the end product is something that you can use easily and effectively to optimize your wells production and increase their productivity.
It is possible that there are database needs or regulatory and reporting services that are not mentioned in these webpages. If so, please contact us at regrptspec@gmail.com and we will set up an appointment to discuss those specific services and/or needs with you, one on one, completely customized for your company.
Specific hourly rates depend on time and complexity requirements. All work will be done through the Proposal and Approval process, only with the approval of your company.
$90 - $120 per hour
ON-SITE OR ONLINE TRAINING
We offer an exhaustive list of training topics to help your company become more productive and profitable. Our classes are always geared towards your specific needs and concerns. Typical classes include:
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Microsoft Word, Excel, PowerPoint, and Access
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Governmental Online Websites (WIS, AFMSS2, Colorado/New Mexico/Utah efile)
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New Federal regulatory production operations changes, such as:
Site Security
Oil Measurement
Gas Measurement
Gas and Oil Waste Prevention, Production Subject to Royalties, and Resource Conservation
$120 per hour (10 person minimum)