Mineral Owner’s Audit: Checklist
Revenue
- Confirm royalty ownership percentage
- Secure Operator’s Report from Oklahoma Corporation Commission (hereinafter, “OCC”)
- Secure Spacing or Unitization report from OCC
- Secure Oil and Gas Purchaser’s Report from Oklahoma Tax Commission (hereinafter, “OTC”)
- Compare OCC Report vs. OTC Report vs. Royalty Owners Report (quantity and price)
- Track quantity and price over time
- Benchmark quantity over time
Expenses
- Determine whether Operator is wrongfully assessing gas marketing expenses
- Surface
- Confirm water payments
- Confirm that surface covenants are satisfied
Regulatory
- Monitor OCC actions for spacing unit
Daily tracking of key partners
- Operator
- Oil purchaser
- Gas purchaser
