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FAQ

1 

What are the costs of having your own Accounting department?

  • Junior Production Accountant average $5,421/month

  • Intermediate Production Accountant average $6,566/month

  • Senior Production accountant average $8,225/month

  • Specialist average $10,400/month

  • Supervisor /Team Lead average $11,560/month

  • Manager average $13,404/month

  • Plus:

    • Supervision

    • Bonus

    • Education

    • Vacation

    • Benefits

    • Hiring costs

    • Termination costs

    • Accounting software

    • Other Software

    • Computer hardware costs plus technical support

2

​What duties are undertaken by your production accountant?

  • Manage complex-operated oil & gas properties

  • Compile and analyze field gauge reports

  • Maintain property files

  • Maintain production accounting system and property-specific master file data

  • Input and process monthly volumetric data

  • Confirm third-party volumetric data (fluid receipts and dispositions)

  • Provide ‘volumes available’ to working interest owners, third parties, and clients.

  • Analyze processed data prior to publishing

  • Generate pipeline forecasts (Form A/B)

  • Prepare and publish oil and gas pipeline splits based on information provided by working interest owners, third parties, and clients.

  • Generate and submit provincial government regulatory reports (Alberta, Saskatchewan, British Columbia, and Manitoba.)

  • Generate crown (provincial & federal) and non-crown royalty payments

  • Input revenue into the production accounting system

  • Pre-balance receivables (purchasers) for the current month

  • Monthly reconciliation of oil crown royalties

  • Respond to internal & external queries of a normal business nature

  • Manage prior period adjustments/amendments

  • Prepare an upload to your financial accounting system

3

How does your pricing work?

We offer pricing that is unique to each client - typically we like to work out a flat monthly rate which would include all month to month tasks you're looking for, but we're open to discussing what works best for your company. Filings for EPAP, royalty reviews, GCA and other miscelaneous tasks will be priced and worked out before the job is started. We like to work on yearly contracts, as thus to give us both security and the options to review our monthly rate each year.

4

Why differentiates you from another consulting company or a full time employee?

We offer a team approach rather than a single consultant or employee working on your file. We incorporate an internal review process each month in hopes to avoid most, if not all amendments and revisions. With a single employee or consultant, there is less over-sight into the process, the extra set of eyes we provide will allow us to reduce the possible fines for innaccurate reporting. We also have various levels of experience on our team, from junior all the way up to expert we have all the bases covered. 

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