Outsourcing of Oil and Gas


Full Management:
PDS functions as a full-service “plug-and-play” specialty assets management and accounting department.  It provides all of the operations management for specialty asset and assumes the day-to-day management of the portfolio in compliance with state, federal and fiduciary rules and regulations including the following:

  • The preparation of an initial review
  • The preparation of an annual investment review
  • Oversight of periodic valuations
  • Routine record keeping
  • Review and execute division or transfer orders
  • Establishment and maintenance of asset and account files
  • Preparation and delivery of standard TMMS and management reports
  • Determination of the adequacy of title documentation
  • Mainten and update necessary Procedures Manuals
  • Provide routine management of no-site personnel
  • Contract for, or oversee the contracting of, required ordinary services
  • Review and monitor operating statements, AFE’s and JIB’s
  • Determine insurance risks, recommend, and track coverage
  • Review, approve and pay routine invoices
  • Supervise routine contract and repair work
  • Maintain accurate records of significant decisions and their supporting rationale
  • Oversee the timely payment of oil & gas taxes
  • Provide asset distribution services that do not require title curative
  • Maintain trust depletion records and accounting
  • Lease negotiations
  • Sale or purchase of a property
  • Review of unsolicited offers to purchase
  • Title curative work
  • Environmental project or remediation management
  • Preparation of deeds, assignments, conveyances and contracts
  • Historic revenue and expense research and reconstruction
  • Missing or delinquent revenue collection

Operations Management: PDS handles all operations and accounting and leaves management for specialty assets to the client.

  • Revenue and Expense Processing
    °  Accounts payable
    °  JIB and other bill back entry and tracing
    °  O/G check processing
    °  Validation of revenue line item detail
    °  Multiple ownership and payer revenue splitting
  • Maintenance of accounting records pertinent to the Portfolio including:
    °  New trust and asset set-up
    °  Routine file maintenance
    °  Trust and asset close-out
    °  Property/lease
    °  Fee calculation
    °  Multiple owner (including outside owner) tracking
    °  All funds received and distributed
  • Verification, review and audit of oil & gas revenue to ensure accuracy and timeliness
  • Verification, review and audit of routine JIB/AFE expense payments to ensure accuracy and timeliness
  • Ad Valorem tax payment or payment verification
  • Maintenance of a Standard Procedures Manual and Operations Desktop Guidelines
  • Trust interfaces including transaction, account and compare system reporting
  • Multiple owner (including outside owner) tracking
  • Principal and income accounting
  • Special client, audit and regulatory reporting
  • Supplying information to a trust tax preparer
  • Track pending events, such as delinquencies, reviews, inspections, etc.
  • Provide support for insurance and property tax payment