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Where do I account for Hedging Transactions?

Risk management is an important part of any business, especially in the oil and gas industry. Because oil and gas is a commodity, one significant risk that oil and gas producers have to deal with is the risk related to …

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Why You Need a Reserve Report

By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner
“Do I really need to spend money to have an engineer prepare a reserve report for me?” As an oil and gas producer, you may have asked this …

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E&P Estimating for Accrued Revenue and Related Expenses

By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner 

In the world of oil and gas, we know that production cash receipts and income tend to lag a month or two (or sometimes three) behind when the …

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What’s This Asset Retirement Obligation I Keep Hearing About?

By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner

As we’ve described previously, one of the components of “getting back in the game” for small independent E&P companies is producing financial statements that are compliant with Generally …

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Get Back in the Game: E&P Financial Reporting

By Keith A. Arner, CPA, CVA, Partner and Andy Griffin, CPA, Supervisor

During the mad dash for deep shale acreage, when exploration and production companies like Chesapeake, Gulfport, Ascent, and others were acquiring leases, many independent producers in the Utica …

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