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Operations and Production Accounting Professionals Spotlight
Operations and Production Accounting Professionals are the accountants and keepers of data that companies require to make good decisions about planning or operating a facility or project. They skillfully verify and report on the quantities, costs and revenues from oil and gas activities involved in exploring, drilling and operating wells.
What a typical day looks like:
With wells pumping and oil and gas flowing through pipelines, Operations and Production Accounting Professionals know whether a well or facility is performing adequately. Production Accountants observe, calculate, verify and report volumes, rates and royalties. They know the numbers to answer the question: “What did we make this month?” Operations Accountants hold the answer of why and how.
These professionals are the hub through which numbers flow and decisions can be made. They monitor production costs, overhead rates and penalty payout interests. They calculate production volumes and rates and then process required royalty payments. They also provide accounting support for tax submissions and Securities Commission filings. They often work directly with those in charge, including those in the field, controllers or the chief financial officer (CFO) to make sure everything is accurate. As they gain more experience in their role, the level of responsibility and complexity increases.
Typically employed in the exploration and production (E&P), oil sands and pipeline sectors of the oil and gas industry, Operations and Production Accounting Professionals are usually found in an office setting. Business hours are standard, except occasionally during periods with tight deadlines.
The kinds of problems Operations and Production Accounting Professionals solve at work:
Operations and Production Accounting Professionals capture numbers from a world of projects and, if they don’t look right, hunt down potential causes such as costs, rate fluctuations or human error. Then they report it. Operations and Production Accounting professionals are big picture problem solvers.
Skills used most on the job:
Operations and Production Accounting Professionals like working with detailed facts, figures and numbers. They also enjoy working with people and are collaborative in nature. This role requires a great deal of critical thinking and clerical skills.
Operations and Production Accounting Professionals are “numbers people” who use calculations to provide a picture of a company’s production and bottom line.
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You are a “numbers person.” Your philosophy? If knowledge is power, then the numbers are the power source. You’re the accountant and keeper of the dat...Continue reading