Gas Equities, Inc.
Gas Equities, Inc. (“GEI”) is a global accounting firm offering consulting services, internal control reviews, accounting process reviews, out-sourced accounting functions, litigation support, and contract compliance audits. GEI was founded by the firm’s President, Sandy Launchbaugh, in 1991. Kevin Launchbaugh joined the firm in 2008 as Managing Partner. GEI strives to provide our clients with reasonable assurance regarding the accounting for and contractual or equitable basis of all transactions related to the oil and gas industry, from the costs required to drill the wells and produce the hydrocarbons to the expenses and proceeds from transportation of those hydrocarbons to the proceeds and deductions from the ultimate sale of the hydrocarbons. As such, GEI has vast experience with joint venture expenditure audits associated with oil and gas drilling operations and lease operating expenses. GEI also has extensive experience in complicated contract compliance revenue audits relating to hydrocarbons, including natural gas, natural gas liquids, LNG, and crude oil and condensate.
Our experience in joint venture expenditure auditing is extensive, performing approximately 40 audits each year. Our past reviews have included deep water development projects and onshore production, international audits in Canada, Venezuela, Trinidad and others, as well as drilling wells in shale formations in virtually every producing region in the U.S. including the Barnett field, Bakken field, Piceance and Jonah fields, Eagle Ford, Permian, Haynesville, Marcellus field, and many others.
We are very knowledgeable of audit issues associated with drilling, completion, and lease operating expenses and the chargeability of costs according to the prevailing contracts and industry standards such as COPAS documents and methodologies. GEI’s past experience includes large and small joint venture expense audits associated with oil and gas drilling operations and lease operating expenses. GEI also has extensive experience in complicated contract compliance revenue audits relating to hydrocarbons, including natural gas, natural gas liquids, LNG, crude oil and condensate as well as audits of gas plants, fractionators, producer gas imbalances, gas gathering systems and gas marketing companies. Several of our employees currently serve as an instructors for COPAS Energy Education for the Operations, Joint Interest Audit, and Revenue I and II courses.