Oil & Gas Accounting Services
Oil & Gas Accounting Services
We provide you with dependable, cost-effective solutions to reduce your overhead and effort spent managing day-to-day accounting tasks. With decades of oil and gas industry experience, we work with you to build a customized plan to meet your business needs and maximize profits.
Baker Tilly can help you navigate outsourced accounting
Are you an independent operator? Oil and gas investor? Royalty trust or mineral interest owner? No matter what part of the oil and gas industry you play in, you face complex regulatory challenges on a daily basis.
Baker Tilly’s oil and gas outsourced accounting specialists can build a tailored solution to meet your goals today and scale with you as you grow, whether you are looking to outsource your entire accounting function or seeking assistance to manage overflow work.
Interested in getting started with us? Contact our back-office specialists.
At a glance
Baker Tilly’s online systems and services can streamline back office operations for independent operators, investors with a portfolio of non-operated working or royalty interests or brokers of oil and gas investments. This efficiency allows your team to focus on your core business, not on processing and managing your payables, joint interest billing (JIB) statements or revenue distribution checks.
We can handle portions or all of your daily bookkeeping needs and will be in constant contact with questions or concerns as they arise, so you can refocus your time and effort.
Our custom service makes a difference, so you receive the following benefits:
- Staffing flexibility and reduced costs
- Quick start up and the ability to get the project done
- Anytime, anywhere access
- Library of best practices, process flows and controls
Our oil and gas services
Baker Tilly offers the following services specific to our oil and gas clients:
Why outsource?
Do what you know best and outsource the rest to our qualified specialists. We have helped our clients through the booms and the busts.
- Cost savings: Reduce cost by employing partial employees versus full time hires. Reduce overhead such as office space, paid leave or benefits.
- Labor flexibility and focus on core activity: Increase or decrease personnel depending on your needs. It is our responsibility to hire, train and manage to free you up to focus on your core business.
- Best practices: We have processes in place that are proven and tested. We will work with you to review and customize implementation details to best suit your needs.
- Tighter controls: Internal departments and personnel evolve over time and can frequently grow out of control. We have checks and balances for processes such as check writing, division of interest (DOI) maintenance and general ledger (GL) maintenance.
- Quick start up: You can access your oil and gas accounting software the day you sign. We will cut checks and run joint interest billings (JIBs) within days of start up.
In the current climate, controlling cost and delivering actionable data for both managing production and assessing partnership or transaction options is critical to managing your upstream business. Our oil and gas outsourcing solutions can reduce G&A expenses from 20-50% by leveraging partial FTE experienced resources, systems and automation, combined with less costly but highly trained offshore data entry personnel.Tom Black, Principal