Director of Lease Accounting (Oil & Gas)
WFH Flexible
Description

The Director of Lease Accounting will lead an oil & gas lease revenue accounting team responsible for capturing and reconciling lease volumes, payment processing, DOI maintenance, owner relations, 1099 filings, state unclaimed property filings (Escheat), etc. The Director will implement distribution processes, foster a collaborative environment with the team, and train new team members on established processes. Long term, he/she will seek ways to improve processes, controls, and procedures and develop and implement new processes, controls, and procedures as the business needs evolve.


The ideal candidate for this role is technically proficient, with extensive knowledge in lease accounting, distribution processes, and regulatory compliance within the oil & gas industry. They are a skilled problem-solver, adept at creating and improving processes to address evolving business needs and ensuring accurate and efficient financial operations. Additionally, they are highly collaborative, fostering a cooperative team environment and working closely with other departments to streamline reporting and data flow. 


Responsibilities

  • Oversight of lease revenue team, including revenue accountants, tax accountants, and division order analysts
  • Oversight and/or participation in various lease accounting and compliance processes, including
    • Truck ticket reconciliations and uploads
    • Sub-well allocations
    • Processing of owner adjustments, including reject recoveries
    • Processing and distribution of operator run statements
    • Reconciliation of volumes and pricing
    • Processing of distribution payments
    • Processing of PPA’s
    • Processing of operator early payments
    • Preparation of reconciliations and analysis
    • Preparation of reports to management, corporate accounting, etc.
    • Regulatory compliance, including severance tax, withholding, railroad commission, T-1 reports, etc.
  • Manage the process, including data, research, and deadlines, for the unclaimed property filings (Escheat) to multiple states
  • Oversee annual 1099 and 1042 preparation
  • Assist with acquisitions, due diligence, internal/external audits, data conversions, and other special projects
  • Collaborate closely with other internal department leaders to improve processes and streamline existing reporting, systems, and data flow.
  • Maintain current documentation of policies, procedures, and processes.
  • Recommend and implement improvements that efficiently and effectively address changing business needs while maintaining or improving internal controls.
  • Assess team performance, hold team members accountable, and provide timely feedback as needed
  • Complete other duties and responsibilities as reasonably assigned by management.
Requirements

Required Skills

  • 4-year degree in accounting or related field
  • 10+ years experience in lease accounting/distribution processes
  • 3+ years supervisory experience
  • 3+ years experience with oil & gas midstream company
  • Extensive knowledge of PakEnergy (WolfePak), including the first purchaser module
  • Experience related to oil and gas property asset acquisitions and divestitures, including required system setup for the acquired properties.
  • Strong proficiency in Microsoft Office, specifically Excel
  • Strong analytical skills and ability to create and/or improve processes
  • Ability to meet deadlines and produce results under tight deadlines
  • Excellent organizational skills
  • Strong written and verbal communication skills