OIL AND GAS ACCOUNTING SERVICES

Your Oil and Gas Revenue Accounting Experts

Trinity brings significant experience to revenue accounting for upstream oil and gas companies. Our revenue accountants have extensive knowledge in tax compliance and the diverse requirements of revenue accounting.

Our services in this area include:

• Record monthly revenue, including deductions and taxes
• Prepare monthly revenue/royalty distributions
• Option to net revenue distribution against JIB invoices
• Option to make ACH payments to owners with emailing of check detail
• File severance taxes and compliance reports (including ONRR and state royalties)
• Prepare monthly revenue accruals
• Prepare gas balancing statements
• Calculate and distribute net profit interests
• Respond to owner inquiries
• Perform account reconciliations

Leveraging an Optimized System to Help You Achieve Maximum Efficiency

Trinity’s oil and gas expenditure accounting department pursues efficiency at every turn so you can run your business more effectively. Our expenditure accountants understand the system and work to help your business save money and manage your accounting more effectively.

Our services in this area include:

Accounts Payable

• Enter and process vendor and joint interest invoices
• Manage electronic workflow for client invoice approval
• Process and mail A/P checks or send via ACH
• Perform account reconciliations
  

Joint Interest

• Set up and maintain JIB schedules
• Prepare and mail monthly invoices to joint interest owners
• Process monthly COPAS overhead
• Perform property cost allocations
• Prepare monthly LOE and capital cost accruals and G&A accruals
• Receive, process and transmit electronic JIBs
• Setup AFEs, enter budgets and provide comparison reports
• Perform account reconciliations

Accounts Receivable

• Process revenue and accounts receivable cash receipts
• Pursue collection of joint interest receivables
• Monitor accounts receivable aging reports

Dedicated Division Order Analysts With Extensive Industry Knowledge

Our services in this area include:

• Set up wells and accounting leases
• Pay delay rentals and shut-in payments, as well as other land obligations
• Provide client ownership reporting
• Prepare and process revenue division orders and maintain division of interest in support of revenue and expenditure accounting
  • Inflate and deflate decks for take-in-kind and deleted interests
  • Make pay code and suspense code changes
  • Setup and maintain revenue and tax component deductions and exempt ownership interests
  • Transfers of interest per client directives
  • Maintain deck ownership history

Production Accounting Expertise for Upstream Oil and Gas

Trinity’s oil and gas production accounting department manages all relevant report filings and handles associated analysis. Our diligence in this area helps your business stay on track and in proper compliance.

Our services in this area include:

• Load production volumes
• Perform allocations as needed
• Perform production/revenue volume variance analysis
• File federal and state production reports

Comprehensive Service for Better Financial Stability

Trinity rounds out its oil and gas accounting outsourcing services with complete reporting.

Our services in this area include:

Financial Reporting

• Prepare monthly, quarterly and annual financial reporting packages
• Prepare budgets
• Provide audit support

Operations Reporting

• Produce lease operating statements (LOS)
• Manage AFE budget to actual comparison reporting
• Track and report payout calculations
• Offer client access to reports using Web application

Consolidated Corporate and Operational Reporting

Trinity specializes in  SQL oil and gas reports and can automatically and continuously delivers outsourced data to a client’s corporate reporting environment.

· All or selected outsourced data delivered to a client’s SQL server

· Client access to accounting data from client chosen BI reporting tool.

Trinity’s services for federal, state and tribal compliance reporting provides clients highly specialized expertise to meet operators’ monthly, quarterly and annual filing and payment obligations. These services extend to include support for state, federal or joint venture audits.

Our services include:

• Severance taxes
• Conservation taxes
• Ad valorem taxes
• Federal Reporting
  • ONRR 2014 Royalty
  • Federal Production (OGOR)
• State Reporting
  • Royalties
  • Production

Trinity provides Oil and Gas Litigation Support with experienced staff in Accounting and Land.

Our services include:

• Accounting Research and Analysis
• Spreadsheet and Exhibit Preparation
• Expert Findings, Opinion, Rebuttal and Supplemental Reporting
• Damage and Loss Calculations
• Oil and Gas Expert Testimony in Deposition, Arbitration and Trial
• Recommendations for Corrective Course of Action
• Analysis of Wellhead Measurements, Tanks, Gathering, Compression, Transportation, Line Use and Loss, Gas Plant Processing, Shrinkage, Residue Gas and Natural Gas Liquids
• Assist with Assessing Online State Reported Production, Well and Producer Information
• Assist with Accessing Online Well Production, Payment and Cost Information from Operators and Purchasers
• Assist with Mineral Ownership Chain of Title and Leasing History Activity

Trinity provides Audit Support for Oil and Gas Producers’ Federal, Tribal and State Reporting and Payments.

Our services include:

• Federal and Tribal Royalty Calculations, Revisions and Reporting to the ONRR
• Federal and Tribal Production Reporting and Revisions to the ONRR
• State Severance, Conservation and Ad Valorem Tax Calculations, Revisions, and Reporting
• State Royalty Calculations, Revisions and Reporting
• Direct Audit Representation with the ONRR and State Agencies
• Recommendations for Corrective Course of Action

In-depth technical product knowledge for these products, beyond what would typically be available within the client’s staff, is available to optimize the use of the software and maximize efficiency and reduce costs.