Investing in the oil and gas industry can be lucrative. But, it also involves navigating complex contracts that deal with financial terms, royalty agreements, joint ventures and production-sharing. For investors, an experienced eye by their side to take a closer look at contracts can be the difference between productive partnerships and costly legal disputes.Martindale Consultants has spent over 40 years delivering exactly this. It provides expertise in navigating joint venture agreements, investment structures and compliance requirements globally for clients ranging from individual mineral owners to national and multinational oil companies.
“We approach every single project as if the money invested by the client, even in requisitioning our services, is our own,” says Roger Gann, president and CEO.
Over the years, the company has diversified into even more fields like accounting, regulatory reporting and litigation support services, becoming a one-stop shop for oil and gas investors. Through leadership roles in organizations like the Council of Petroleum Accountants Societies (COPAS), the firm has also played a big role in forming best practices in oil and gas accounting.
Mitigating Risk, Maximizing Value
Pre-investment consulting and post-investment compliance reviews form the two major audit services Martindale provides for clients. For prospective investors, Martindale conducts thorough due diligence to highlight potential financial risks and accounting discrepancies. Post-investment, clients can rely on Martindale for detailed audits that verify billing, ensure proper revenue allocation, identify non-compliance, and provide recommendations to protect their interests.
Besides audits, Martindale provides accounting services to support smaller oil and gas operators and investors who lack in-house financial teams. The firm acts as an outsourced accounting department and handles tasks like revenue distribution, production accounting, financial reconciliation and joint interest accounting. It also offers part-time CFO and controller services for clients who require leadership but do not need full-time hires.
Litigation support completes Martindale’s quartet of services. Its experts offer testimony and opinions on accounting disputes, compliance matters and joint venture conflicts. They evaluate financial transactions to guarantee alignment with contract terms and provides valid legal insights. The firm’s expertise extends to revenue disputes where it helps royalty owners receive the correct payments and deductions.
Experience is the Foundation
Martindale’s success stems from its dedicated in-house team of professionals. Its employee-based operating model delivers consistent, high-quality service while giving clients direct access to experts who know their projects inside out.
The firm values internal growth, hiring new graduates and training them in-house — a tradition dating back to its founder. Many of its senior leaders, from executives to shareholders, started their careers at Martindale. Regular workshops, industry training sessions and professional development programs are also held to ensure that the team consistently stays ahead of the curve.
A recent customer success story can better portray team Martindale’s impact. When a private equity-backed client acquiring oil and gas assets reached out to Martindale for an audit to verify billing accuracy, it stepped in, identified accounting discrepancies and provided insights that resulted in financial corrections. Ultimately, the firm became an integral part of the client’s due diligence process, advising on asset acquisitions and contract negotiations to mitigate financial risk before deals were finalized.
The story is just another example where Martindale’s expertise resulted in a long-term partnership with a client. Today, Martindale stands as the go-to choice for investors and operators looking for reliable financial oversight in an increasingly complex investment landscape.
