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F.K. Matulionis & Associates Ltd. is a highly specialized Calgary based firm dedicated solely to Internal, Operational and Joint Venture Audits in the oil and gas industry. Incorporated in 1981, we offer a level of experience and knowledge concerning the oil and gas industry that is unparalleled.

F.K. Matulionis and Associates Ltd. offer a full line of audit consulting services specializing in the following areas:

  • Drilling, Completion and Equipping Capital Expenditures
  • Oil, Gas and NGL Production and Revenues
  • Crown and ORR Royalties
  • Gas Cost Allowance
  • Processing and Transportation Fee Verification
  • Plant, Battery and Pipeline Construction Costs
  • Vendor Contract Compliance
  • Plant, Battery, Gathering and Well Operating Expenditures
  • Plant Allocations
  • Throughput Equalizations
  • Excess Capacity Calculations
  • Well Payout Calculations
  • Due Diligence
  • Purchase Settlement/Final Statement of Adjustments
  • Change of Operator
  • Geophysical Expenditures
  • Internal ORR Verifications
  • NGL Profit Share Calculations
  • NGL Cost of Service Calculations
  • NGL Facility Operations
  • International Audits (Middle East/Australia/USA)

Audit Procedures:

F.K. Matulionis & Associates Ltd. adheres to standard audit procedures used in the oil and gas industry as well as guidelines specifically outlined by the Petroleum Accountants Society of Canada (PASC) Bulletin #5 (Joint Venture Audit Revenue Auditing Guide) and Bulletin #8 (Joint Venture Expenditure Audit Guide).  We work in conjunction with our clients in order to develop an audit program that addresses the concerns and requirements of each client.

For over 30 years F.K. Matulionis & Associates Ltd has been providing audit consulting services to hundreds of oil and gas corporations. We are committed to providing the highest quality of audit consulting services possible using the most qualified personnel available. We are committed to maximizing recoveries to our clients and maintaining good working relationships with the companies we audit. We believe in honesty, integrity, confidentiality, reliability and hard work. We would be more than happy to provide corporate references upon request.

F.K. Matulionis & Associates Ltd. employs a fully diversified staff of highly skilled and professionally trained audit consultants. Each consultant has a strong educational background with many years of related oil and gas accounting and audit industry experience. Specifically these consultants are:

Miles Matulionis

President, B.Comm.

University of Calgary, 30+ years extensive oil and gas industry audit experience.

Peter Asmus

Senior Plant Allocation Auditor

30+ years extensive oil and gas industry experience.

Laurie Hamatani

Senior Production Revenue Auditor

SAIT Polytechnic CAPPA, BVC Business Admin, 30+ years related oil and gas industry experience.

Alastair Stewart

Director – Power and Carbon Cost Optimization

CFP, B.Econ (Honours) University of Calgary, 30+ years oil, gas and power experience

Joe Serpico

Senior Joint Venture Auditor

30+ years extensive oil and gas industry experience.

Chris Mah

Senior Joint Venture Auditor

Mt. Royal University Bachelor's degree, Applied Small Business and Entrepreneurship, 15+ years related oil and gas industry audit experience.

Adam Forbes–King

Senior Joint Venture Auditor

B.Comm. University of Calgary, 7 years related oil industry audit experience.

Jane Lo

Senior Joint Venture Auditor

CAPPA, 6 years related oil industry production and cost audit experience.

Richard Pearlman

Joint Venture Auditor

BA. Economics University of Calgary, 3 years related oil and gas industry audit experience.


F.K. Matulionis and Associates Ltd. is currently an active member of PASC (Petroleum Accountant Society of Canada) and the PJVA (Petroleum Joint Venture Association).

Where to find us:

Suite 1000,
888 3rd Street S.W.
Calgary, Alberta
T2P 5C5

Get in touch:

403 686-7361 (tel)
403 686-7362 (fax)

Email us: