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Public companies become very busy preparing SEC filings and there is no doubt that discussions of impairments of oil and gas assets will occur in the coming months. In most cases, privately held companies do not have to report to the SEC but are finding that it is becoming increasingly important to pay close attention […]

As you already know, many companies in the oil and gas industry take part in divesting and acquiring new assets to increase profitability. While this can be very lucrative in many cases, it can lead to some tough conversations and decisions for the accounting team and other departments. This guide will help you feel more […]

In early March 2020, crude oil prices declined significantly in response to disruptions in worldwide oil demand due to the economic impacts of COVID-19 and an oversupply in the market. Market uncertainties have also impacted natural gas prices and demand. These trends, including a potential economic downturn, could have an adverse and material impact to […]

Oil and gas exploration companies in the oil and gas industry have two choices in accounting for exploration and development costs.   Successful efforts accounting is a method which writes off expenses associated with exploration, including unsuccessful wells.   Full cost accounting is a method that capitalizes the exploration costs and drilling of wells, regardless of the […]

As accounting pros, many of us have used a variety of software programs and over the years discovered that some were definitely better than others. When it comes to the oil and gas accounting software, out of the box solutions just don’t seem to give us all of the features we need like AFE, JIB, […]

Although you are not exactly part of a marketing team, marketing in the oil and gas industry is still relevant to your role as an accountant because the ROI of those marketing efforts directly relates to a company’s financial health. More oil and gas companies than ever are embracing the power of marketing, particularly in […]

As an accounting professional, you might already know about how important it is to continue learning to help further your career and provide value to your company.  The accounting world is constantly changing with new technology and processes to updated regulations and certifications. With that being said, it is important to know what resources are […]

Overview The Accredited Petroleum Accountant® (APA®) certification exam is responsible for accrediting accountants within the oil and gas industry.  While accounting professionals in any industry need to have an understanding of basic concepts, petroleum accountants operate under unique guidelines and principles.  In preparing for and earning the APA® credential, you will be exposed to information […]