Oil & Gas
Principal
CPA
Partner
Principal
Baker Tilly Capital, LLC Managing Director
CPA
Managing Partner
CPA
Partner
MBA
Director
CPA
Partner
CPA, CFP®, CGMA
Partner
CPA
Partner Emeritus
Whether you explore, drill, trade or market petroleum or natural gas, your profitability is closely tied to the industry. Operational nuances and unique tax situations impact each oil and gas company and investor. So, clients rely on us to manage bookkeeping and back-office processes, recommend tax strategies and provide insights to drive success.
Baker Tilly’s team consists of professionals with sophisticated tax expertise, dedicated accounting and analytics and digital solutions experience within the oil and gas industry. With more than 35 years of experience, we help clients innovate to survive the never-ending changing economic conditions. Our seasoned industry leaders work closely with clients to provide strategic answers that drive success.
Through dedication and specialization in the oil and gas industry, our professionals understand the industry disruptions that face upstream and midstream companies. Our specialized audit professionals train and operate on a risk-based model relying on a close understanding of your business, oil and gas accounting, and internal controls. Our firm invests in technology to keep your audit at the forefront through data analytics, robotic process automation (RPA) and constantly evolving software.
Whether your organization needs complex audit services, financial statement preparation, our specialized professionals have the skills and experience to provide the deliverables you need.
We provide dependable, cost-effective solutions to reduce your overhead and effort spent managing day-to-day accounting tasks.
We help oil and gas clients, through our oil and gas accounting services team, to realize cost savings through outsourcing, upgrading technology systems, minimizing tax liability, protecting assets and tightening internal controls.
Advanced analytics and digital solutions professionals guide oil and gas companies along their digital transformation journey and optimal utilization of their data.
Our goal is to understand the challenges you’re up against and what opportunities will benefit your business most to make you more efficient.
For upstream and midstream companies, profitability is closely tied to the oil and gas industry’s unique tax situation. But, your organization may be missing out on tax benefits – or even vital investment capital – if you are not familiar with the intricacies of the industry’s tax incentives.
Our accountants’ sophisticated tax expertise helps our clients take advantage of federal tax benefits – such as intangible drilling costs (IDC) tax deduction, percentage depletion deduction and the small producers tax exemption – while staying on top of variations in state taxation. We work closely with our clients to provide insights and answers that drive success, from choosing a tax-efficient entity structure to minimizing the tax liability created by a merger or acquisition.
Baker Tilly has five offices throughout Texas, including Houston, Dallas and Austin with more than 500 staff members, and we continue to grow. Our oil and gas practice is based in Texas to ensure we provide specialized, local service. Our team has decades of experience assisting publicly traded and privately held companies. We focus on serving upstream and midstream companies and helping families/family offices navigate their oil and gas wealth objectives.
Recent regulatory changes have provided significant tax savings opportunities for the oil and gas industry, in addition to some changes that could negatively impact those who don’t plan ahead. It’s important to map a strategic tax plan now to capture tax savings and minimize the negative impacts of lost tax breaks.Wesley Middleton, Managing Partner, CPA