Woolery Advisory Group LLC
Our Expertise
Federal Royalties (2014)
We know where and how all the common errors are made; volumes issues, processed gas issues, takes vs entitlements, deductions, and many more.
Do you have time to keep up to date with all the ever-changing regulations and rules for all the states in which you operate or report? Of course not. But Woolery does.
Severance and Gross Production Taxes
Are you missing deductions and need to file for credits? Or are you struggling with your volumes disagreeing between your different reports, give us a call to get you straightened out.
Federal Production (OGOR)
Production reporting is one of the first places the ONRR checks for accurate reporting. We will make sure your OGOR volumes agree to the 2014.
Every state requires different format types and information to be included in their production reports. Allow us to handle the complexities so you don’t have to.
Our goal is to keep you off the radar by doing things correctly the first time. In the instance where an audit is issued or you have already been engaged in an audit, our goal is to make your job easy by being your liaison and bring you back into compliance.
Proven Success in Representing Our Clients
Our Group has a proven track record of successfully helping operators clean up their reporting and keep them compliant with the ONRR and other State Agencies. Our consulting team is committed to achieving the best possible results for your business.
Experienced Consultants at Your Service
Our consultants are highly experienced and well-versed in States as well as Federal onshore and offshore assets. Let our years of experience work to help ensure your reporting and filings are compliant with current regulations.
Frequently Asked Questions
Why Woolery Advisory Group for your needs?
Our services are tailored for each client to meet their specific needs and circumstances as no assets or systems are the same. While our services are tailored, we utilize templates and years of historical knowledge in our work to create efficiencies in our product to save our clients’ time and money. We are your one stop shop to handle your royalty, tax, and production reporting.
What’s the risk in incorrect or late reporting?
It is important to understand that if you fail to file your Federal reports, misreport royalties or other obligations, misreport production data, or fail to comply to ONRR requests or Orders the ONRR may assess substantial civil penalties from $ 500 per day under 30 U.S.C. 1719 and much more extreme penalties going up to $68,462 per day under 30 CFR part 1241.60 per violation for each day that the violation continues if you knowingly or willfully prepare, maintain, or submit a false, inaccurate, or misleading report, notice, affidavit, record, data, or any other written information.
Who is the ONRR?
The ONRR or Office of Natural Resources Revenue is a division of the United States Department of the Interior and provides for the collecting, accounting, and disbursing of royalty payments on minerals produced from the Outer Continental Shelf and onshore Federal and Indian lands. Their role also includes carrying out inspection, audit, investigation, and enforcement activities.
The ONRR oversees the Federal and Tribal royalty reports (2014’s) and production reporting (OGOR’s). They also perform Compliance Review’s, issue VCT’s (Volume Comparison Test’s) and PD’s (Preliminary Determinations) and perform Audits.
What is unbundling?
According to the ONRR “Unbundling is the process of taking gas transportation and/or processing fees and determining the allowed and disallowed costs for royalty reporting and payment.”
You need Woolery’s help if you are not deducting some costs from your ONRR royalty payments. We know the intricacies and complications associated with correctly “unbundling” your transportation and processing costs to find any deductions to which you are entitled.