Misco Jobs

Oil and Gas Property Accountant

Posted: 2 Sep 2009
Location: International
Oil and Gas Property Accountant International
Must Have DD&A Exp Under Successful Efforts, Solid Co.
Truly outstanding position for the experienced oil and gas Property Accountant with this exceptionally strong oil and gas exploration and production company that offers superior job stability, excellent pay and benefits, a terrific 401K whereby company contributes 10% for employee and requires no matching contribution, paid parking, and much more. The ideal candidate will possess 3 - 5+ years in oil and gas property accounting with solid understanding of: DD&A Calculations under Successful Efforts, Platform Abandonment Calculations, Drilling Overhead and WIP Accruals.
Please read carefully the following detailed job description:
JOB DESCRIPTION
Position Title: Property Accountant
Department: Finance
Reports To: Property Accounting Supervisor
Primary Responsibilities
Primary responsibility for accounting of oil and gas property assets, including property setup, depletion, sales and disposals, and impairment. Additional responsibilities involve analysis and reporting of property balances in an accurate and timely manner.
Skill Profile
• Experience in the oil and gas industry, specifically in exploration and production and preferably offshore (offshore not required, but helpful)
• Degree in Accounting.
• Basic understanding of information technology and computer applications.
• Understanding of exploration and production accounting for Successful Efforts and Cost Accounting (i.e., ceiling tests, property impairment, depletion calculation, project payouts, etc.)
Communication Areas
• Extensive communication with other departments concerning exploration, developments and operational activity.
• Communicate with Corporate regarding Mastro Reporting
Detailed Responsibilities
• Review AFE, assign AFE number and setup AFE as required
• Enter detailed AFE cost into Space & Horizon and post updated AFE form to common database
• Review AFE Forms and Lease Approvals to determine if setup for a new property is necessary. Set up new properties with a corresponding billing deck & DOI
• Calculate and record gain/loss on sales and retirements of oil and gas assets
• Calculate and book Shorebase Allocations
• Calculate and book and Boat & Helicopter Allocations
• Calculate CAPEX accrual based on daily drilling reports and open AFE Report from Space and record journal entry
• Clear AFEs under the successful efforts method and Group method and review properties’ status and move from WIP to record successful, unsuccessful, or producing, when necessary
• Reconcile SEC to group to capital accounts
• Calculate project payouts and distribute Project Summary Report
• Review MMS Completion Report to determine drilling and work over premium
• Prepare capital expenditure reports with variance explanations and distribute
• Reconcile and report differences between SEC and Group methods of accounting
• Create and analyze various property and CAPEX reports
• Record capitalization entry for Mastro reporting to capitalize/expense work in progress and non-oil and gas additions
• Perform account reconciliation for numerous property accounts
• Track costs related to seismic volume purchases
• Reconcile and report reasons for variances in capital investments, amortization, and depletion for Group and SEC methods
• Track AFE expenditures and overruns
• Request and record AFE Supplements when necessary
• Close AFEs upon project completion
• Other requests and duties as assigned
Qualified candidates who have the above job experience are invited to email a detailed resume in MS Word format as an attachment. Please include all dates for education and experience. All replies confidential. This is an ASAP direct hire need.

Contact Information:
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