DOMESTIC (North America)
Navigator Petroleum Consulting Corp. provides services to both domestic and international Operators and Non-Operators in the oil and gas industry.
Joint Venture Audits
Navigator performs audits of Offshore and Onshore Oil and Gas Wells (Single, Multiple and Units), Plants, Facilities, Tie-ins as well as Major Construction Projects for the following audit categories:
- Operating Costs (Allocations)
- G & A (Allocations)
- Production (Liftings)
- 13th Month Adjustments & Equalizations
- Excess Capacity Calculations
- Change of Operatorship
- NPI (Net Profits Interests)
- NCI (Net Carried Interests)
Navigator performs, on a regular basis, audits of vendors utilized by Operators. Below are a few examples of areas of focus:
- Contract compliance regarding rates
- Contract compliance regarding personnel and equipment utilized
- Perform physical inventories for site inventories where applicable
- Scrutinize employee time sheets
- Vouch delivery tickets
- Review travel and remuneration costs
Due Diligence Auditing
Navigator performs audits regarding Statements of Adjustments Pursuant to Purchase and Sale Agreements. We have conducted audits ranging from $5,000,000 to $3,000,000,000. Specific areas of focus typically are as follows:
- Cutoff audit with a focus on pre-effective date costs
- Proration of annualized costs such as Lease rentals, property taxes etc.
- Ensure proper accounting for oil inventories
- Audit of costs charged during transition periods.
- Ensure proper handling of 13th month adjustments for plants etc.
Navigator performs internal audits which have often been on a special custom basis as requested by clients. The following are few examples:
- Construction Project Audits
- Joint Operating Corporations
- Forensic Audits of Foreign Affiliates
- Inventory Control
We work closely with you to help you achieve your goals.
Booking a consultation with Navigator Petroleum means our team of professionals will apply their wide range of skills and experience to the analysis of your project on an individual basis. We work with you from day one to insure successful outcomes.