Oil and Gas

The oil and gas landscape, especially in Ohio, has gone through many changes in recent years. The professionals in our oil and gas group are not only trained in the complex accounting and income tax aspects of the industry but in the industry as well. With knowledge and proven experience, they speak the language and understand your specific oil and gas issues. 

Staying current in order to help our oil and gas clients with complex industry-specific challenges such as cost segregation, cost containment, assurance and income tax compliance, and technology is paramount to us.  We work with you to identify and maintain governance, internal controls, reporting, and compliance.

We are also heavily involved in the Ohio Oil & Gas Association and the Council of Petroleum Accountants Society, and regularly attend industry events such as the AICPA National Oil and Gas Conference and other nationwide conferences, which enables us to provide proactive audit, tax and management consultation services.  In addition, some of our professionals have board experience at public oil and gas companies.

From joint interest billing processing and review of overhead charges, to maximizing tax benefits, we provide the insight and services that yield results such as:

Tax

  • Ad valorem taxes
  • Cost segregation studies
  • Domestic production activities (Section 199)
  • Multi-state income tax expertise
  • Property and severance tax analysis
  • Severance and sales tax review
  • Tax planning and incentives
  • Tax rules and regulations
  • Tax return preparation

Assurance

  • Audits of financial statements
  • Amortization/depreciation accounting
  • Cash flow analysis
  • Full cost accounting and disbursements
  • Internal controls
  • Like kind exchanges
  • Partnership and joint venture accounting
  • PUCO Regulatory compliance and reporting
  • Reserve report interpretation
  • Revenue distribution

Business advisory

  • Business valuations
  • Due diligence reviews
  • Entity structuring
  • Financial projections and feasibility studies
  • Litigation support
  • Mergers and acquisitions
  • Oil and gas well cost control and analysis
  • Operation analysis
  • Succession  and estate planning
  • Transaction structuring

Types of clients we serve:

  • Development
  • Marketing
  • Exploration
  • Drilling operations 
  • Distribution
  • Independent operators
  • Retail sales of oil and gas equipment and products
  • Production