Staff Accountant - Midland
1 day ago
Job description
Job Title:
Staff Accountant (Upstream Operations)
Company:
Octane Energy
Location:
Midland, TX (On-Site)
Reports To:
Accounting Manager
About Octane Energy
Octane Energy is a privately held, diversified energy company headquartered in the heart of the Permian Basin. We pride ourselves on operational excellence and a lean, high-performing culture.
Unlike large public organizations where you might be pigeonholed into a single task, at Octane, you gain visibility into the entire lifecycle of the well.
We are looking for a driven professional ready to own their desk and grow their expertise in both Revenue and JIB accounting.
Position OverviewWe are seeking a versatile Staff Accountant to manage a hybrid desk covering both Joint Interest Billing (JIB) and Revenue accounting.
This is a critical role responsible for ensuring accurate financial reporting, regulatory compliance, and working interest owner relations.You will be responsible for the full monthly accounting cycle: from processing production volumes and revenue distributions to managing JIB processing and collections.
The ideal candidate understands the relationship between the Joint Operating Agreement (JOA) and the Revenue Deck and can navigate the nuances of Texas severance tax.
Key ResponsibilitiesRevenue & Regulatory
Production & Allocation:
Process and allocate oil, gas, and NGL production volumes; analyze purchaser statements and ensure proper accounting for deductions, transport, and allowable exemptions.
Distributions:
Calculate monthly oil/gas prices per purchaser agreements, run payout statements, and execute the monthly revenue distribution process for royalty and working interest owners.
Regulatory Reporting:
Prepare, file, and amend state and federal reports, specifically Texas Severance Tax and federal royalty reporting.
Reconciliations:
Perform monthly account reconciliations for revenue, royalty, and tax clearing accounts.
Joint Interest Billing (JIB)
Billing Operations:
Prepare and process standard monthly JIB entries, including overhead (COPAS) rates, supervision fees, and material transfers.
Non-Operated JIBs:
Review and code non-operated invoices; verify costs against JOA/COPAS guidelines, dispute unallowable charges, and research Working Interest (WI) discrepancies.
AR & Owner Relations:
Track cash calls and prepayments, apply payments to owner accounts, research aged AR balances, and serve as the primary point of contact for working interest owner inquiries.
Inventory:
Assist operations with inventory counts and reconcile physical inventory to the general ledger.
General Accounting & Reporting
Month-End Close:
Prepare journal entries for both revenue and JIB cycles to ensure a timely and accurate closing process.
Audit Support:
Pull invoices, statements, and reconciliations to support annual financial audits and partner JIB audits.
System Maintenance:
Maintain overhead rate schedules and assist in the maintenance of division orders/decks within the accounting system.
Candidate Qualifications
Education & Experience
Education:
Bachelor's degree in Accounting, Finance, or Business Administration is required.
Experience:
Minimum of 1–3 years of experience in upstream Oil & Gas accounting.
Note:
We prefer candidates who have touched both Revenue and JIB, but we are willing to train a strong specialist in one area who wants to learn the other.
Technical SkillsERP Proficiency:
Proficiency in upstream accounting systems such as BOLO or Excalibur is required.
General Ledger:
Experience with QuickBooks Online (QBO) is essential.
Data Exchange:
Must be proficient in EnergyLink for processing non-op JIBs and revenue data.
Analytics Tools:
Strong Microsoft Excel skills (Pivot Tables, VLOOKUPs) are required. Experience with Power BI for data visualization and reporting is highly preferred.
Core Competencies
Analytical Rigor:
Ability to analyze complex data sets (production volumes vs. revenue checks) and identify discrepancies immediately.
Communication:
Strong written and verbal skills are essential for communicating with landowners, partners, and internal engineering teams.
Work Ethic:
Must be able to prioritize activities in a deadline-driven environment (monthly close) and maintain a positive attitude during peak periods.
Why Join Octane?Exposure:
You won't just be a "cog in the wheel." You will see the direct financial impact of our development.
Compensation:
Competitive base salary + performance bonus.
Benefits:
Comprehensive medical/dental/vision, 401(k) match, and a collaborative Midland-based office culture.
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