JIB Accountant – Fort Worth, TX

JIB Accountant – Fort Worth, Texas

CSI Recruiting is working with a growing, Permian Basin-focused E&P company that has over 30 years of experience operating oil & gas assets, in their search for an experienced JIB Accountant.   The JIB Accountant will be responsible for the preparation of necessary entries for joint interest account operations and assist the Controller with reviewing monthly entries and statements.  The JIB Accountant will ensure successful and accurate expenditures related to both operated and non-operated properties are following current COPAS guidelines. This position will be responsible for documenting and maintaining the internal processes and procedures for the team.

Essential Duties And Responsibilities

  • Oversee and assist with administering monthly Joint Interest Billing (JIB) process. Prepare and distribute all monthly JIB statements to proper parties.
  • Oversee and reconcile monthly Accounts Receivable process.
  • Properly document and update the internal processes and procedures to assist with consistency and adherence to accounting policies, regulations, internal controls, COPAS, and GAAP.
  • Perform analysis and reconciliation to ensure accuracy and completeness in the preparation and cleanup of accounts.
  • Review all JIB ownership records to help ensure they are maintained in the company’s internal accounting system and in accordance with information received from the Land Department.
  • Oversee that all reverse and rebook entries are completed when a change in ownership occurs.
  • Oversee and distribute the monthly transactions reports to the Accountants responsible for specific areas such as drilling, pads, and units.
  • Maintain monthly inventory reconciliations and prepare all required entries concerning inventory.
  • Responsible for administering and maintaining the inventory system and processes. Coordinate the setup, development of new materials, transferring of data, and implementation to ensure a smooth transition.
  • Prepare monthly JIB Suspense review in accordance with monthly financial calendar.
  • Analyze LOE transaction report. Prepare needed entries to correct errors.
  • Analyze and prepare all insurance entries related to O&G operations.
  • Assist with JIB close processes and audits as well as review monthly and annual accruals for accuracy.
  • Develop the procedure for desk audits, monitor and track the audit data, and prepare related reports.
  • Provide guidance and help train JIB Accountants by applying technical and overall industry knowledge to enhance performance and efficiency with daily and monthly tasks.

Qualifications

  • Bachelor’s Degree in Accounting, Finance, or related business field.
  • At least five (5) of experience in Upstream Oil & Gas Accounting with current experience in Joint Interest Billing Accounting work.

Expected Core Competencies – Knowledge, Skills, And Abilities

  • Thorough knowledge of how debits and credits affect the balance sheet and income statement.
  • Thorough knowledge of current COPAS regulations and US GAAP with ability to apply it to new and existing transactions.
  • Working knowledge of Microsoft Office Suite with proficiency in Excel including Pivot Tables, V-Lookups.
  • Working knowledge of Oil & Gas Accounting Software