Revenue Accounting

• Record volumes, sales values, transportation charges, other deductions and severance taxes into accounting records
• Generate monthly revenue/royalty distributions
• Prepare and file severance taxes and compliance reports including MMS
• Generate monthly revenue accruals
• Generate gas balancing statements
• Reconcile gas balancing statements provided by other operators
• Calculate and disburse net profit interests
• Reconcile related general ledger accounts
• Ability to compare calculated sales volumes to revenue received

Accounts Payable

• Set up operated invoices for payment
• Set up non-operated joint interest billings for payment
• Reconcile prepayment balances
• Monitor payout balances associated with outside operated interests
• Reconcile related general ledger accounts
• Generate A/P checks
• Coordinate payments with vendors
• Code operated and non-operated A/P invoices
  

Accounts Receivable

• Process revenue and accounts receivable cash receipts
• Pursue collection of joint interest receivables
• Monitor aging of A/R balances
  

Ad Valorem Tax Service

• Provide any level of appraisal services
• Review current tax assessments for possible tax savings
• Review and file appropriate renditions annually
• Negotiate and appeal taxable values
• Provide automated tax payment data and monitor delinquent taxes
• Report and pay taxes
  
  

Joint Interest & Property

• Calculate and maintain payout balances
• Record monthly COPAS overhead rates
• Record monthly PMTA rates and other rental equipment charges
• Maintain and record monthly allocation charges
• Generate monthly joint interest billings
• Perform monthly LOE and capital cost accruals
• Coordinate joint interest audits (for Company operated properties)
• Set up and monitor AFE balances
• Record material transfers
• Record lease rentals
• Provide detailed expense and capital analyses to field locations
• Monitor and analyze undeveloped leasehold costs
• Prepare property cost reports for client analysis on a periodic basis
• Reconcile related general ledger accounts
  
  
  

Land Records

• Analyze, set up and maintain leases on the Excalibur Land Lease Records System
• Provide flexible report generation for client (gross/net acreage, rental obligations, drilling commitments)
• Payment of lease delay rentals, minimum royalties, shut-in royalties and lease obligations
• Acquire title opinions and title curative for drilling purposes and division orders
• Prepare and process division orders and maintain division of interests
• Prepare letter-in-lieu and/or transfer orders for acquisitions and divestitures
• Review and/or negotiate joint operating agreements, farmout agreements, acquisitions/divestitures, etc.
• Respond to landowner inquiries
  
  
  
  

Reporting

• Generate cash flow projections
• Generate monthly financial reporting package
• Generate periodic Securities and Exchange Commission reports
• Assist in preparation of data for registration statements
• Generate lease operating statements
• Assist in compilation of data for tax forms including K-1, 1065
  and 1120
• Generate 1099 reports
• Generate general and administrative analyses
• Calculate DD&A amounts
• Production reporting to states and MMS
  
  
  

Finance & Treasury

• Establish investment banking relationships for public or private offerings
• Assist in identifying short-term investment opportunities
• Reconcile bank statements
• Lockbox collection for revenue receipts and remote disbursement for payments to enhance cash management
  
  

Engineering

• Evaluate oil and gas properties for acquisitions, divestitures, drilling prospects and engineering reserve reports
• Perform field studies for exploration opportunities, waterflood feasibility and field performance issues