Maintains accurate records of all revenue transactions. Processes proceeds, prepares regular reports for management and investigates and reconciles records. This position may be at the senior level based on experience.
Coordinate payment of all state, federal and Indian royalty obligations taking full advantage of any royalty holidays.
Generate invoices for the sale of oil and gas production using production and pricing information as appropriate.
Pay invoices for transportation and gathering services and deduct from royalty and working interest owner shares as appropriate.
Process cash proceeds received from the sale of oil of gas production for FourPoint Energy properties using remittance advice detail. Information to be processed will include gross volume, value, severance taxes and transportation/gathering deductions. Establish oil and gas revenue payable balances by owner using the remittance advice detail.
Apply cash receipts to accounts receivable as appropriate.
Establish revenue agreements and shipper contracts within the accounting system to properly account for marketing arrangements, gathering systems, severance taxes, price postings and product flow.
Complete allocation of measured production at central delivery points to underlying wells as appropriate.
Perform allocation of wellhead sales to working interest owners as appropriate. Acquire volumetric and quality data (Mcf, Bbls, Gravity, BTU factor, pressure base, etc.) from production system or external sources.
Calculate and record monthly revenue accrual entries based on production and pricing inputs.
Issue monthly revenue distribution checks.
Prepare, review, and distribute gas balancing statements internally and to working interest owners.
Calculate pipeline inventories and imbalances. Prepare ledger entries and process sales adjustments as necessary to reflect the effect of inventory on sales and income.
Research, reconcile, and determine reasons for outstanding and past due accounts receivable. Contact purchasers and partners to collect valid receivables. Make entries or reprocess sales to clear invalid items.
Reconcile balances in assigned accounts and prepare necessary journal entries in accordance with generally accepted accounting principles.
Bachelor’s degree in a business-related discipline (Accounting degree preferred).
Minimum of 5 - 7 years oil and gas experience.
Microsoft Excel skills and proficiency in the use of oil and gas accounting software.
Must have experience and knowledge in the following areas:
Oil and gas revenue distributions
Oil and gas division of interest and ownership
Generally accepted accounting principles
Oil and gas contracts
Collection of receivables
Must be able to accomplish several assignments concurrently, efficiently managing a heavy workload, and effectively working with people at several different levels in the organization.