Data Acquisition & Management

Texhoma Land Consultants has been tracking and reporting our client’s leasehold position in various shale plays for over 20 years. Our systems and processes have been tested tough and now provide our clients with a real-time accounting of their holdings, fully reconciled and processed and with virtually any type of additional information or report that they need. To meet one of our client’s needs, we supply a report to them that is used in their SEC filings. The tracking and reporting of leases bought is a thankless, but necessary, part of lease buying and acquisitions. Let our experienced team take over this task for you.

Executive Summary Preparation

  • New leases
  • Renewals
  • Top leases
  • Extensions
  • Working Interest assignments
  • Quit-Claim Deeds
  • Amendments
  • Corrections
  • Track existence and type of Pugh Clause; Land Portal can distinguish acres inside and outside of a producing unit
  • Track depths covered and all major lease clauses
  • Perform logic checks prior to upload into Land Portal
  • Real-time reporting
  • Compile report based on reporting from satellite offices
  • Report weekly to client’s land department

Data Maintenance

  • Vest top leases
  • Tie lease bonus to general ledger (GL) account
  • Reconcile to client’s systems
  • Prepare expired lease report
  • Process change requests
  • Meet auditor required time limits

Check Approval Process

  • Approve all bonus checks based on review of preliminary lease packages
  • Any errors resolved and/or curative obtained prior to check approval

HBO/HBP Status

  • Review recorded declaration of units (DOU) and 1st sales notices
  • Maintain a master log of activity
  • Update lease records in Land Portal

Lease and 3rd Party Processing

  • Prepare and submit to client a completely processed lease package
  • Process all 3rd Party assignments, including trades and miscellaneous working interest assignments

Budget & Compliance Reports

  • Prepare a monthly report detailing new leasehold, bonus/acre paid and total bonus
  • Reconcile and report bonus impairments monthly and quarterly
  • Work closely with client’s auditors and Accounting Department
  • Establish cross-reference table to client systems
  • Reconcile Land Portal to client’s systems
  • Attain audit-prescribed thresholds on reconciliations, otherwise, the audit control will fail

Learn more about how we can help you.

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