Energy Search Associates’ Post

Ive been in Production Accounting for over 12 years now and one of the challenges I face personally when hiring, is explaining what we do as a department. Despite its name, Production Accounting is not your traditional accounting role. It’s a specialized function in the oil and gas industry that focuses on tracking and reporting production volumes, not financial transactions. Instead of balancing ledgers, Production Accountants work with engineers and field personnel to ensure accurate measurement of oil, gas, and other byproducts at every stage—from the wellhead to the sales point. This role is essential for regulatory reporting, royalty calculations, and maximizing efficiency in production. It's a combination of technical knowledge, industry expertise, and attention to detail—far different than crunching numbers! I tell people often that we are walking calculators for complex allocations and measurement systems. If you’re in or around the oil and gas space, you know how critical this role is for keeping operations running smoothly and act as a gateway into the data for the corporate world. #OilAndGas #ProductionAccounting #EnergyIndustry #DataReporting

🔍 Dive into the intricacies of cost basis in oil and gas accounting. Understand how it impacts your financials and make informed decisions. Learn more: https://lnkd.in/eRvtKiWn #OilAndGas #AccountingTips #FinancialInsights #CostBasis #BusinessFinance #EnergySector

Gas plant owners, stop losing time on re-reporting and, even worse, facing lose capital to penalties - invest in a Production Accountant now! 🚩🚩🚩 Read more below to learn how they can help you and where to get started. 👇 #OilAndGas #Accounting #Petroleum #OilAndGasIndustry #Energy #Accountant #Land

💡 Demystify Oil and Gas Accounting with The 10x Accountant! 🛢️💼 Are you a Chicago business owner navigating the complex world of oil and gas? Our latest blog breaks down the unique accounting challenges in this industry, from managing exploration costs to understanding revenue-sharing agreements. Gain the financial insights you need to make informed decisions and keep your business on track for success in the energy sector! 🔗 Read the full article here: https://lnkd.in/gzX6rvg6 #OilAndGasAccounting #BusinessFinance #ChicagoBusiness #The10xAccountant #AccountingTips #FinancialSuccess #EnergySector #Chicago

Dear professional lawyers, aspiring corporate lawyers in energy, oil, and gas, The typical variety of legal documents you need to know how to draft includes: 1. Contracts: Outlines terms and conditions for a specific project or service. 2. Leases: Grants rights to use land or resources for a set period. 3. Licenses: Authorizes companies to engage in specific activities (e.g., drilling). 4. Joint Venture Agreements: Defines terms for partnerships between companies. 5. Share Purchase Agreements: Outlines terms for buying or selling company shares. 6. Asset Purchase Agreements: Specifies terms for buying or selling assets (e.g., equipment). 7. Farm-in/Farm-out Agreements: Allows companies to transfer interests in a project. 8. Operating Agreements: Defines roles and responsibilities for project operations. 9. Gas Sales Agreements: Specifies terms for buying and selling natural gas. 10. Transportation Agreements: Outlines terms for transporting oil or gas. 11. Storage Agreements: Specifies terms for storing oil or gas. 12. Processing Agreements: Defines terms for processing oil or gas. 13. Dispute Resolution Agreements: Establishes procedures for resolving disputes. 14. Environmental Compliance Agreements: Ensures companies meet environmental regulations. 15. Regulatory Filings: Submissions to regulatory bodies (e.g., permits, reports). These documents may relate to: - Upstream activities (exploration, production) - Midstream activities (transportation, storage) - Downstream activities (refining, marketing) - Renewable energy projects (e.g., solar, wind) Please note that, this is not an exhaustive list, and the specific documents drafted may vary depending on the jurisdiction, project, or client needs.                      Any question? Whatsapp: +2347057269862

Ever wondered how oil and gas companies navigate the complexities of finding, extracting, and selling these valuable resources? The answer lies in a specialized field – oil and gas accounting. This intricate system goes beyond standard accounting practices, ensuring financial transparency, regulatory compliance, and strategic decision-making throughout the industry's lifecycle. In this blog series, we'll demystify oil and gas accounting, exploring its unique features, key methods, and its vital role in the industry's success. Stay tuned as we unlock the secrets behind the financial engines that power this global sector! Read the full article here: https://lnkd.in/dMKyuKE7 #OilAndGasAccounting #FinancialTransparency #EnergyIndustry #bizcommits #AccountingStandards #StrategicDecisions #ResourceManagement #InvestmentAnalysis #OilAndGasReserves #Compliance #BehindTheScenesInEnergy

My post today for Steve Reese and Reese Energy Consulting. Case Closed Over the last 30 years Steve Reese has seen the inside of a whole lotta courtrooms—and that’s proved to be a very, very good thing for REC clients. As an oil and gas expert witness, Steve—along with key staff members of Reese Energy Consulting—is regularly called upon by corporate legal teams and outside counsel to provide litigation services and expert testimony on behalf of producers, midstreamers, marketers, end users, and accounting firms. And we’re currently seeing an uptick of activity in this space, now assisting in five legal cases amid increasing inquiries.   With more than 250 years of combined oil and gas and midstream experience, REC provides the subject-matter experts, consulting, due diligence, analysis, and courtroom testimony to help inform decision makers for optimal results. Here's a look at some of our expert subject-matter disciplines: Ø Oil and gas contracts and marketing Ø Gathering and processing operations and commercial contracts Ø Gas measurement and sampling Ø Product scheduling and balancing Ø Oil and gas revenue, deductions, and fees How can we help you? Learn more about REC and our legal consulting services at www.ReeseEnergyConsulting and our online natural gas training courses at www.ReeseEnergyGoesRogue.                     

In the dynamic world of oil and gas, accurate and meticulous accounting is crucial. Our team offers specialized accounting services tailored specifically for the oil and gas industry, ensuring every financial aspect is managed with precision. From regulatory compliance to financial reporting and operational analysis, trust us to fuel your business success with expert accounting support. Reach out now and let's optimize your financial strategy! #OilGasAccounting #EnergySectorFinance #AccountingServices #FinancialPrecision #RegulatoryCompliance #OilAndGas #BusinessSuccess #FinancialReporting #IndustrySpecialized

As major public companies acquire private oil producers, natural gas players like Aethon Energy and Ascent Resources lead the rankings. Seven of the top ten producers focus primarily on natural gas, reflecting a significant shift in the industry. Notable companies include Continental Resources, Hilcorp Energy, and TG Natural Resources, showcasing the sector's growth and consolidation trends. Follow me by clicking the "FOLLOW" button on my LinkedIn Profile to keep updated with industry news and new job openings. "SHARE" this post to help expand my reach and my ability to help bring value to your network. Hiring Managers and Executives - We can help identify candidates in Engineering, Geoscience, Land, EHS, Accounting/Finance, and other positions. Please reach out and we can set up a time to talk. https://shorturl.at/WwLly

Do you have questions about outsourcing your accounting? Are you left wondering where to start or what the process is? Don't worry - we've got your back with our awesome FAQ that covers it. Check it out now! 👇 Still have questions? Don't be afraid to reach out and we can help. 📲 #OilAndGas #Accounting #Petroleum #Energy #Oil #Accountant #OilAndGasIndustry