The Oil & Gas Accounting Podcast

In this episode, Tom and Phil are joined by Steve Bailey, Project Director for Safire Oil and Gas consulting located in Houston Texas. They discuss the many changes brought to the industry by Covid, especially in the area of compliance. Steve offers his thoughts on where the focus should lie as the industry begins heading back to the office, and how to evaluate what’s working, what isn’t, and how...

In this episode, Tom and Phil are joined by Jonathon Fite, President of Professional Development Institute at the University of North Texas .Jonathon talks about the upcoming North American Petroleum Accounting Conference (NAPAC). The conference will be May 20th and 21st and will have both in person and virtual attendance options. Jonathon discusses how this year’s conference will be different fro...

In this episode, Tom and Phil get together to discuss a variety of topics that will be covered at the upcoming COPAS meeting. The meeting will be virtual and will take place April 19th through the 22nd. The co-hosts discuss how being involved is much like being part of a big family and also discussing topics that affect the oil and gas community. It's a great place for both learning and conne...

There is so much uncertainty surrounding the industry due to the change in federal administration and the pandemic. In today’s episode, Tom and Phil are joined by Jim Hoffman, National Sales Director for PDI. They discuss the various problems with land,the unprecedented times we are in, and some things that could help you navigate through it all. He also talks about three courses he developed to h...

Treating employees right and creating a positive work culture will save you thousands of dollars by simply retaining staff. Today on the podcast, Phil is joined by his friend and business coach, Scott Ballard, founder of the Confidence Coach. Scott shares why employers need to focus on employee retention and creating a workplace that people are excited about. He also discusses what he does as a bu...

This week's episode is a departure from deep oil and gas topics and one that will help you manage the people on your team and life, with a big dose of humor. Tom and Phil are joined by Drew Groelinger. Drew’s book titled Folder or Crumpler, highlights two different personalities that show up in an unexpected way. They discuss the traits of both personality types, how they can show up in relat...

In today’s episode, Tom and Phil are joined by Elizabeth Lions, coach, speaker, author, and consultant. Elizabeth talks about all things mergers and acquisitions and how she helps her clients navigate that through coaching. She gives tips on how to deal with the initial feelings that can come with learning about a merger or acquisition in your company, advice on the first thing you should do, and...

In today’s episode, Tom and Phil are going over some new bills and initiatives by state. They discuss legislation on fracking and taxes at both the state and federal level. They also talk about the suspension of new oil and gas leasing permits put in place by the Biden administration, and how the shutdown of the Keystone Pipeline could affect communities. Highlights: 1:27 Hydraulic fracturing 3:03...

In today’s episode, Tom and Phil are joined by Brad Ayers, Senior Director of Government Affairs. They discuss energy policy and how Brad makes projections on policy in the energy sector. Brad covers current topics that could affect oil and gas, such as the Green New Deal and the Keystone XL pipeline. He also discusses why he is “a glass half-full” type of guy when it comes to the new administrati...

In today’s episode, Tom and Phil are talking about some changes that were included in the new stimulus bill that was just released by Congress. Companies can now apply for a second round of the Payment Protection Loan but there are some new requirements. They also discuss some changes that were made to the 1099 form and how that may affect filing and reporting your 2020 taxes. Highlights: 1:38 Cha...

In today’s episode, Tom and Phil are joined by Doug Reeb, Partner at Plante Moran. They discuss the ways that derivatives and hedging can protect your assets in the current economy. Doug explains how 2020 was a great example of why having that protection is so important in the industry, and also some of the pitfalls that we may see moving into this new year due to the new administration and the un...

In today’s episode, Tom and Phil are talking about finally leaving 2020 behind and getting started on a new year. Phil, who is a high performance coach, talks about a study of the habits of high performers. He covers everything from morning routines and energy, to productivity. He also talks about how fear may be holding you back, and ways that you can change that going into the new year. Highligh...

In today’s episode, Tom and Phil are joined by Jim Allison, Vice President of Accounting Operations at Trinity Petroleum, and Robert Todouze, Revenue and Division Order Manager at Trinity Petroleum. They discuss the different materials that they refer to when they come across issues that they aren’t sure how to handle. They give different examples of how networking through COPAS and other relation...

In today’s episode, Tom and Phil are joined by Angie Knipe, Director of Training and Education for the COPAS National Office. They discuss the many educational courses offered by COPAS and who would benefit from them the most. They also talk about the changes that the program has had to make due to COVID-19, what it looks like moving forward, and why they have decided to provide significant discou...

In today’s episode, Tom and Phil are joined by Diane Kirk, Director and CPA at Plante Moran. They discuss how the current state of the economy has affected the oil and gas industry and some different scenarios that companies may face in the coming year. Some of the challenges they talk about include severance accounting due to layoffs, lease concessions, erosions of accounts receivable, the impact...

In today’s episode, Tom and Phil are joined by Melissa Gruenewald, founder and CEO of Green Forest Financial, PLLC, a CPA and advisory firm, and sitting vice president of Council of Petroleum Accountants Societies (COPAS). They discuss the many benefits of being an active member of COPAS, and how it has helped Melissa develop her career skills, relationships and leadership abilities. They also tal...

In today’s episode, Tom and Phil are joined by Butch Rogers, Certified Public Accountant. They discuss possible tax benefits that may be helpful to oil producers when filing taxes this year. They also cover some of the tax changes we may see under the new administration, along with the most recent updates on the Paycheck Protection Loan. Highlights: 2:47   Butch’s motivation to stay in school to g...

In today’s episode, Tom and Phil are joined by Deb Ryan, Senior Manager of Engineering at Sproule. Deb talks about how she is able to juggle all of her different roles, and gives valuable insight on how she helps companies calculate reserves. She discusses what companies can do before bringing in consultants to assist with reserve calculation, and how important it is to resist relying completely o...

In today’s episode, Tom and Phil are joined by Lary Sides, Senior Auditor with Chevron’s Audit Department, as they discuss how to stand out in the oil and gas industry with the Accredited Petroleum Accountant (APA) certification.  Lary details eligibility, preparation, the exam process, and retention of the certification, how to get started and how it’s helped him in his 39-year career.  Highlight...

In today’s episode, Drew Harold, director of state and local tax with Crest Tax Partners, talks about the importance of overcommunication within your team when it comes to property taxes in your organization. and how his experience in the field helped him gain a better perspective when it came to dealing with taxes. Highlights: 1:53 How Drew got his start in oil and gas 4:18 Tips on internally man...

In today’s episode, Sarah Magruder, President of Sapphire Oil and Gas Consulting, breaks down some of the confusion and misconception surrounding severance tax. She talks about how important it is for all team members to have knowledge surrounding every aspect of the oil and gas process, and how that can help reduce overall severance tax payments..  Highlights: 2:57 What is severance tax? 5:30 Why...

In today’s episode, Brent Watson, Principal at SALTA, PLLC, is here talking to us about the benefits and savings of being really attentive to sales and use taxes. Brent walks us through how operators can avoid overpaying on taxes, what to avoid and how one small operator saved over $275,000 by hiring a consulting firm to manage their taxes and review their purchases. Highlights: 1:44 Why should oi...

In this episode we’re joined by Rick Roybal, Vendor-Risk Management “activist”, author, and speaker. Rick has worked in the oil and gas industry for over 15 years and talks about the importance of having controls and systems in place to minimize risk financially and also in health and safety. Highlights: 2:25 How a degree in Russian led Rick down his career path 4:16 What is the role of an auditor...

Most of us in the business world know that our network is like gold. But are we actually using it effectively? And what do we do in 2020, when the world has ground to a halt with COVID19? Today’s guest, Dan Trienzenberg, accredited petroleum accountant and controller at Wolverine Gas and oil Corporation, is here to show us how to maximize our networks to help grow our careers, roles and businesses...

If you're a CPA, an accountant, a bookkeeper, an office manager, or if you're an oil and gas operator that's doing the accounting yourself, you are who our brand new podcast is for. We’ve partnered with Tom Wierman, Executive Director of COPAS (The Council of Petroleum Accounting Society) to bring you the Oil & Gas Accounting Podcast. We noticed that no one has the conversations...