Entry Senior

Operations and Production Accounting Professional

About This Career

Operations Accounting and Production Accounting professionals ensure that information as it relates to the quantities, costs and revenues associated with oil and gas activities are properly accounted for and reported to stakeholders. They play a key role in the management of an oil or gas operation or project. 

Operations Accounting and Production Accounting professionals have a solid grasp on the value of how the business fits together. They place a high value on accuracy and attention to detail, and play an important role in ensuring a company is compliant with regulations by providing regulatory reports, assisting with audits and documenting compliance and corrective actions. Staying apprised of regulations that impact the oil and gas industry is a key requirement.

The typical jobs in this occupation include:

  • Operations Accountants ensure components of a company’s income statement and balance sheet are properly reported. They monitor production costs, overhead rates, and penalty/payout interests. They also ensure that contracts are accurately represented in the company’s financial results.
  • Production Accountants calculate oil or gas production volumes and rates, gas to oil ratios, and associated royalties. They verify production volumes, receipts and deliveries to pipelines or other sales points. They also analyze invoices, process royalty payments and report information according to regulatory guidelines.

Education: A post-secondary diploma or degree in a relevant field – ideally in business, accounting, economics or petroleum technology - is typically required. An Energy Asset Management (EAM) two-year diploma is available from the Southern Alberta Institute of Technology (SAIT), in partnership with the Centre for Energy Asset Management Studies (CEAMS).

Employment: This occupation is found in onshore environments and is typically employed in the exploration and production (E&P), oil sands and pipeline sectors of the oil and gas industry.

Example titles: Operations Accountant, Production Accountant, Auditor, Business Analyst, Financial Analyst, Revenue Accountant

Work Activities
Analyzing Data or Information
Undertake reserve-related financial calculations, analysis disclosures and internal controls including depletion, unproven property, ceiling test, standardized measure etc.
Analyze invoices for royalties
Communicating with Persons Outside Organization
Liaising with management consultants for special audit reports.
Communicating with Supervisors, Peers or Subordinates
Reporting to management regarding the finances of the establishment.
Determining Compliance
Reporting information as per regulatory guidelines.
Documenting/Recording Information
Establish tables of accounts and assign entries to proper accounts.
Ensuring contracts are accurately represented in financial results.
Interpreting the Meaning of Information for Others
Interpreting complex accounting issues and unique transactions.
Monitor Processes, Materials or Surroundings
Monitoring production costs, overhead rates and penalty payout interests.
Performing Administrative Activities
Process royalty payments
Processing Information
Calculate production volumes and rates, gas/oil ratios and associated royalties
Thinking Creatively
Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.
Competencies
Behavioural
Attention to Detail
Collaborative
Knowledge
Administration and Management
Clerical
Economics and Accounting
Foundational
Critical Thinking
Career Path
  • Accounting Analyst
  • CFO
  • Controller
  • Junior Accountant
  • Manager
  • Senior Accountant
  • Team Lead/Supervisor
Related Careers
Available Jobs
  • There are no recent job postings

Working Conditions
  • Office
    Office Based
  • Deadline
    Demanding Deadlines
Transferable Sectors
  • Chemical manufacturing
  • Finance
  • Forestry and logging
  • Mining and quarrying
  • Paper manufacturing
  • Petroleum and coal product manufacturing
  • Primary metal manufacturing
  • Professional, scientific and technical services
  • Public administration
  • Utilities
  • Wood product manufacturing
Job Details

Job Category

Business and Operations Support

Sectors

Pipelines

Oil sands

Exploration and production

NOC

1111, 1112, 1523

Qualifications + Experience

Education:

  • Post-secondary diploma

Certifications:

  • Chartered Professional Accountant (CPA) designation (legacy CA, CMA or CGA)
  • Canadian Association of Petroleum Production Accounting (CAPPA) designation
  • Specific health and safety certifications will be determined by job requirements