Joint Interest Accountant

Houston, Texas, United States

Job Reference 1191549

Location Houston, Texas, United States

Industry Oil & Gas - Offshore Oil

Function Financial & Accounting

Job Type Contract

Date Added July 14, 2023

Airswift has been tasked by one of our major O&G clients to seek for a Joint Interest Accountant to work in Houston, TX for an initial 1-year contract.

Primary Responsibilities
Primary responsibility for operated properties including joint interest transactions, partner billings, cost allocations, trade receivable management, cash application, preparation of audit PBC schedules and cash forecasts.

Detailed Responsibilities
  • Maintain JIB master data files.
  • Calculate and record boat and helicopter allocations.
  • Run JIBs, distribute JIB statements to partners and record JIB accounts receivable.
  • Monitor JIB Trade Receivables and maintain aging report for Management review.
  • Work with JIB partners for collection of outstanding receivables.
  • Determine COPAS drilling and producing overhead to be charged to projects and properties; update table in SAP.
  • Prepare and distribute cash call invoices to partners and record relevant journal entries.
  • Ensure all relevant costs are recovered from partners where applicable (e.g. PHA fees, IPT billings, other work performed on behalf of partners/operators, etc).
  • Allocate shorebase costs (boats & helicopeters) and technical expenses.
  • Resolve/Respond to Partner issues/inquiries regarding operated JIBs and cash calls.
  • Determine cash forecast related to JIB receivables.
  • Calculate, monitor and distribute payout statements for Operated properties.
  • Cash application for JIB and miscellaneous cash.
  • Update IFRS 9 spreadsheet and prepare entry.
  • Responsible for all IFRS 16 monitoring, entries and reconciliations.
  • Review Operating Agreements.
  • Work with external auditors; prepare PBC schedules.
  • Perform account reconciliations for assigned JIB accounts.
  • SOX compliance.
  • Other requests and duties as assigned.
Skill Profile
  • Minimum 7-10 years of experience in joint interest accounting for operated properties.
  • Degree in Accounting.
  • Knowledge of COPAS Accounting Procedures & Joint Operating Agreements
  • General knowledge of accounting practices and procedures.
  • Good understanding of information technology and computer applications.
  • Proficient in Microsoft Word and Excel.
  • SAP experience preferred.
  • Ability to organize and prioritize workload.
  • Good customer service skills.
Communication Areas
  1. Operational Departments.
  2. Land Department.
  3. Joint Venture Audit.
  4. JIB Partners.
  5. Other Internal Departments.

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