Our outsourced accounting group provides services to clients of all sizes and situations. We service operators, non-operators, and minerals and royalty entities that are private equity backed, individually owned, family offices, large landowners, trust departments, and mom and pop-sized companies.
■ Record deposits and revenue
■ Monthly oil and gas revenue allocations
■ Gas plant accounting
■ Revenue and royalty distributions
■ Severance tax calculations and analysis
■ Backup withholding
■ Suspense review and reconciliations
■ Process prior period adjustments
■ Work with regulatory to ensure timely and accurate reporting
■ Calculate producing overhead, drilling overhead, and construction overhead, and perform annual adjustments
■ Perform allocations for shared costs such as fieldwide costs, pumper routes, vehicles, and company labor
■ Process joint interest billings (JIB) distributions
■ Authorization for Expenditure (AFE) creation, tracking, and review
■ Record and code invoices
■ Set up approval processes
■ Invoice payments
■ Maintain vendor files, including COIs and tax exemptions
■ Record deposit information
■ Prepare aging reports
■ Maintain owner netting
■ Management and oversight of accounting tasks and staff
■ Financial statement compilation and review
■ Treasury functions
■ Budget analysis
■ LOS analysis
■ Monthly bank reconciliations
■ Cash status analysis
■ Cash call calculations
■ Positive pay processing
■ ACH / Wire processing
■ Create LOS statements
■ Provide metrics such as realized prices, expense ratios, differentials, etc.
■ Receive and deposit monthly revenues or royalties
■ Pay, track, and maintain monthly JIB records
■ Prepare Lease Operating Statements/profit and loss analysis
■ Monthly expenses, revenues, and volumes analysis and verification
■ Digital record-keeping and agreement retention
■ Customized monthly and quarterly reporting
■ Bank reconciliations and cash management
■ Maintain owner relations phone and email
■ Timely respond to owner inquiries
■ Track inquiries
■ Update owner records
■ Maintain division order of interests (DOI) decks
■ Process DOI changes
■ Review documentation prior to DOI changes
■ Maintain escheatment records
■ Manage escheatment process
■ Adhere to state deadlines for escheatment
■ Provide in-house or remote staffing solutions
■ Augment existing staff during system upgrade or implementation, acquisitions, or other periods of increased accounting activity
■ Provide temporary solutions during FMLA leave or for abrupt departures
Martindale knows COPAS. Martindale employees have served on a multitude of drafting teams to create COPAS Accounting Procedures and publications, served as chair of Audit, Revenue, Emerging Issues, CEPS, Vehicles, and other committees, and served in various leadership and Board of Director positions at both the local and national level.
Martindale utilizes various accounting software to support client needs including Pak Energy (previously WolfePak) and Quorum’s On Demand Accounting (ODA). If you already have accounting software or are looking to weigh the pros and cons of switching to a different software solution, Martindale has experience with a variety of oil and gas accounting software solutions. We are experts in Excel and have experience in other programs including QuickBooks, various mineral management programs, EnergyLink, and the Salesforce platform.
Kody Impson
■ Record deposits and revenue
■ Monthly oil and gas revenue allocations
■ Gas plant accounting
■ Revenue and royalty distributions
■ Severance tax calculations and analysis
■ Backup withholding
■ Suspense review and reconciliations
■ Process prior period adjustments
■ Work with regulatory to ensure timely and accurate reporting
Martindale knows COPAS. Martindale employees have served on a multitude of drafting teams to create COPAS Accounting Procedures and publications, served as char of Audit, Revenue, Emerging Issues, CEPS, Vehicles, and other committees, and served in various leadership and Board of Director positions at both the local and national level.
