Industries • Petroleum

Petroleum industry expertise

Specialized accounting, tax planning, and advisory support for oil and gas producers, distributors, refiners, and petroleum service companies across the supply chain.

Petroleum Services Schedule a Consultation Industry Challenges
IDC & depletion Intangible drilling costs and percentage depletion
Revenue distribution Working interest, royalty, and overriding royalty accounting
Joint interest billing Operator and non-operator accounting and billing

Petroleum industry challenges

We help you navigate the unique financial and tax complexities of the oil and gas industry.

Oil & gas tax provisions

Navigating intangible drilling costs (IDC), percentage depletion, tangible drilling costs, and exploration & production tax rules.

Revenue distribution

Accurate calculation and distribution of revenues to working interest owners, royalty holders, and ORRI with complex ownership structures.

Joint interest billing

Managing JIB, AFE accounting, and cost allocations between operators and non-operators in exploration and production ventures.

Price volatility & hedging

Accounting for commodity price risk, hedging strategy impacts, and financial reporting in a volatile pricing environment.

Petroleum-focused services

Tailored accounting and advisory for every segment of the petroleum industry.

Oil & gas tax

IDC elections, depletion planning, Section 199A considerations, and multi-state filing strategy support.

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Revenue accounting

Working interest, royalty, and overriding royalty distribution supported by clean division order data.

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Joint interest billing

AFE tracking, cost allocation support, and joint billing processes for operators and non-operators.

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Production reporting

Monthly reporting cadence, revenue accrual support, and documentation practices for audit readiness.

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Midstream & distribution

Pipeline, gathering, and distribution accounting with tariff billing support and control alignment.

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Service company support

Job costing, equipment tracking, and contract accounting support for oilfield service providers.

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Why petroleum companies choose us

Deep industry knowledge and specialized tax expertise.

Oil & gas tax expertise Support across IDC, depletion, and upstream tax planning considerations.
Revenue distribution rigor Processes designed to improve accuracy, timeliness, and owner reporting clarity.
Joint venture accounting Experience supporting JIB/AFE workflows and operator/non-operator coordination.
Full supply chain view Upstream, midstream, downstream, and oilfield services context.

Case study: Independent oil & gas producer

Client: Regional oil & gas producer Challenge: Ownership complexity, tax optimization

"They cleaned up our revenue distribution, improved our IDC elections approach, and streamlined joint interest billing with our non-operating partners."

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