The Oil & Gas Accounting Podcast

On the today's episode we welcome back Brent Watson, a guest on Season 1, to discuss how focusing on Sales & Use Tax can help save your business money and increase profitability. In this episode you'll hear: Why Operators should even care about Sales & Use Tax (3:26) The 3 Factors that Contribute to Overpayment of Sales Tax (4:22)How Exempt Certificates Work (8:24) What Tax Issues Texas Operators Face (10:06)What Tax Issues New Mexico Operators Face (13:46)What Tax Issues Pennsylvania Operators Face (15:41)What Tax Issues North Dakota Operators Face (17:27)What Tax Issues Oklahoma Operators Face (19:58)What Tax Issues Louisiana Operators Face (25:32)What Tax Issues Colorado Operators Face (29:27)What Tax Issues West Virginia & Ohio Operators Face (30:49)What Tax Issues Wyoming Operators Face (33:44)How Use Tax Effects Operators (35:57)

On today's episode, we are talking with our guest, speaker and author, Steve Gorham.  Steve is the Executive Director of the Climate Science Coalition of America, and an advisor to the Heartland Institute.  This is Part II of our podcast chat with Steve discussing how energy crisis and net zero affects us daily.On this episode we will talk about:What’s the cause of the energy crisis?What’s happening in Europe right now.The origins of the world’s energy crisis.What’s going on with air and water around the world.What happened to the ozone layer?Global warming is dominated by natural factors, not manmade emissions.The three misconception about running out of oil and gas: “We need to switch to renewables”.To listen to this episode check it out on iTunes + Stitcher or on the website. About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About Steve Gorham:Steve Gorham is the author of three books, including his latest Outside the Green Box, Rethinking Sustainable Development.  He has more than 100,000 copies of his books are now in print. Steve holds a BS and an MS in Electrical Engineering from the University of Illinois, and an MBA from the University of Chicago. And 30 years of experience in Fortune 100 and private companies in engineering and executive roles.To learn more about Steve Gorham or to connect with him:www.stevegorham.org

On today's episode, we are talking with our guest, speaker and author, Steve Gorham.  Steve is the Executive Director of the Climate Science Coalition of America, and an advisor to the Heartland Institute.  This is Part I of our podcast chat with Steve discussing how energy crisis and net zero affects us daily. On this episode we will talk about:What’s the cause of the energy crisis?What’s happening in Europe right now.The origins of the world’s energy crisis.What’s going on with air and water around the world.What happened to the ozone layer?Global warming is dominated by natural factors, not manmade emissions.The three misconception about running out of oil and gas: “We need to switch to renewables”.To listen to this episode check it out on iTunes + Stitcher or on the website. About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About Steve Gorham:Steve Gorham is the author of three books, including his latest Outside the Green Box, Rethinking Sustainable Development.  He has more than 100,000 copies of his books are now in print. Steve holds a BS and an MS in Electrical Engineering from the University of Illinois, and an MBA from the University of Chicago. And 30 years of experience in Fortune 100 and private companies in engineering and executive roles. To learn more about Steve Gorham or to connect with him:www.stevegorham.org

On today's episode, we are talking with guest Wade Caldwell, President of the National Association of Royalty Owner.  Wade is here to share the Top 5 complaints of  Royalty Owner complaints about communicating with operators. Hear first-hand how you can implement the changes needed to support your Royalty Owners.On this episode we will talk about:•   The biggest change when it comes to the availability of community of information to mineral and Royalty Owners.•   The biggest advantage  to operators in improving their communications and the ability of mineral and Royalty Owners•   The number 1 complaint from Royalty Owners•   How to get division orders for allocation wells. •   What happens when operators failed to obtain the consents required under a lease?To listen to this episode check it out on iTunes + Stitcher or on the website. About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About NARO:NARO is a volunteer led, member based, 501(c)6 education and advocacy organization established in 1980 to assist US mineral owners.The mission of NARO is to support, advocate and educate for the empowerment of mineral and royalty owners.Find a chapter near you.www.naro-us.org/

On today's episode, we are talking with guests Karla Bower and Roger Gan, members of COPAS, who've been working for the last four years on a new accounting procedure and model form interpretation. Hear first-hand about some of the changes that you will find when it is officially rolled out.On this episode we will talk about: •   What are the COPAS accounting procedure?•   The primary change in first level supervision is addressing contract labor•   The new form and what it entails•   The biggest changes from 2005 Accounting procedures•   Two big takeaways regarding the materials that are used on the accounting forms•   Why they did not want the MSI  - it would paraphrase the accounting procedure which would not help anybodyTo listen to this episode check it out on iTunes + Stitcher or on the website. About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On Season 3 of the Oil & Gas Accounting Podcast, Tom and Phil kick it off with details about the upcoming Fall COPAS meeting, with a guest lineup and schedule reminiscent of pre-COVID. Guests on the episode today are Misty Cooper and Jeff Wright, both on the Hosting Committee in charge of planning the COPAS meeting and from the Dallas Society . The COPAS Fall Meeting is an opportunity for members of COPAS to come together and vote on different documents that pertain to different areas of oil and gas accounting, network with other professionals, listen to guest experts on accounting topics and get CPE credits for nearly every event.   Listen to what will be voted on, who’s speaking and what presentations are coming up at the event.The Fall COPAS meeting takes place October 17-21 at The Westin Irving Convention Center at Las Colinas in Irving, Texas. For more information, see the events website here.Highlights:2:47 Where the Fall COPAS meeting will be held 4:55 What events are highlighted this year in the week-long event8:30 The best part of COPAS meetings12:57 The MFI 40 Project 13:03 What other publications & guidelines are being released 14:39 What COPAS members will vote on this fall 16:45 What CPE events are available (and how many extra they’ve built into the entire event)18:22 Why COPAS members should attend this event 22:26  How to register for the meetingAbout SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On this week’s episode, Tom and Phil are joined by Eric Anderson, Chief Technology Officer for SynMax.  SynMax uses imagery and data collected by satellites combined with AI to deliver insight to the oil and gas industry that has previously only been modeled or forecasted. This allows producers, hedgers and energy traders the ability to clearly see what’s happening and make better decisions. Eric explains that the perfect combination of factors have come together with the ability to create something really valuable using satellite imagery for the oil and gas industry and many other industries as well.Highlights:4:57 The Start of SynMax7:17 How much it would cost you to buy your very own satellite12:04 How the data collected by satellites is used14:02 How satellites have been used in the past16:39 Why the data provided by these satellites is important22:03 Other products SynMax offers22:18 Dark vessel detection32:51 Tracking emissions with satellites About Eric Anderson: Connect with Eric:www.synmax.com About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On this week’s episode, Tom and Phil are joined by Robin Macmillan, Chief Sales Officer of Data Gumbo. Robin is giving us all the details on how Data Gumbo’s GumboNet™, a private blockchain, can replace manual processes in your business with automation providing more efficiency, improved business relationships and saving on expenses in the process. Robin also introduces smart contracts and  gives examples of ways they can  work in oil and gas scenarios.Highlights:1:34 From a geology degree to drilling4:42 Handling smart contracts with a private blockchain8:10 Using a blockchain for transactions and smart contracts10:58 What is a smart contract?14:31 The greatest benefits of using smart contracts20:58 Verifying and testing a contract before it goes into service23:21 Limitations of a smart contract35:15 Generating carbon credits38:33 How to get started with blockchain and smart contracts in the oil and gas industry About Robin Macmillan: Robin Macmillan is the Chief Sales Officer at Data Gumbo. With a 40+ year career in energy, he was previously Senior Vice President for Business Development at National Oilwell Varco (NOV Inc.), Manager of Schlumberger Drilling and Measurements in Canada and President at the drill bit company ReedHycalog. He is the current VP of Drilling Services at the International Association of Drilling Contractors (IADC), where he is also Chair Emeritus of the Advanced Rig Technology committee.  He is also former vice-chair of the Society of Petroleum Engineers (SPE) Drilling Systems Automation Technical Section. Robin holds a degree in Geology from the University of Leeds in England. Connect with Robin:https://www.linkedin.com/in/robinmacmillan/https://www.datagumbo.com/en/ About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On this week’s episode, Tom and Phil are joined by Laurie Hoose, ESG Consulting Project Manager at Plante Moran. Today’s discussion is revisiting a previously discussed topic, ESG, or Environmental Social Governance. A company’s policies around ESG have become more important than ever to the company’s investors, consumers and even the talent that the company attracts to it’s workforce. Laurie shares the big news and changes with ESG over the past year and how Plante Moran can help a company develop an ESG strategy.Highlights:2:01 What’s new with ESG?5:53 The history and evolution of ESG10:14 Social and governance issues and why they are important to the oil and gas industry15:47 The starting point for a company that doesn’t have an ESG program in place21:34 How your network can be an asset when creating ESG policies23:58 Elon Musk and the lack of criteria around what qualifies a company to be part of ESG Index FundsAbout Laurie Hoose: Laurie has over eighteen years of experience, and helps her clients on their environmental, social, and governance (ESG) programs. This includes helping to align investor requirements and stakeholder requests for ESG disclosures to the organization’s strategic goals, and determine what disclosures are material and how they should be gathered to ensure timely, accurate information that is transparent and reliable. Laurie helps her clients achieve their objectives, identify opportunities, and reduce organizational and investor risk through actionable, measurable, and continuous improvements.Laurie’s educational background includes a BS in computer science from the University of Michigan, and an MBA in international business from Brandeis University, where she focused on Corporate Social Responsibility (CSR). She also obtained a minor in Corporate Environmental Governance from Copenhagen Business School. She is a member of the Project Management Institute (PMI), a certified Project Management Professional (PMP), and is an FSA Level II Candidate for the Fundamentals of Sustainability Accounting credential.Connect with Laurie Hoose:www.plantemoran.comhttps://www.plantemoran.com/explore-our-thinking/insight/2021/10/esg-reporting-seven-steps-to-get-started About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On this week’s episode, Tom and Phil are joined by Christopher Halvorson, co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC. Christopher shares his journey with mining cryptocurrency that started in 2019 when he was approached about buying stranded natural gas in well sites and using it to mine cryptocurrency. He talks about the importance of understanding the capital and expense side of crypto-mining before getting started with it, the learning curve involved and the lessons he has learned so far.Highlights:3:58 Stepping into bitcoin mining6:48 How to get started with cryptocurrency12:37 A ‘walk before you run’ process17:04 Application Specific Integrated Circuits(ASICs) and their cost21:14 The benefits of being off-grid for Magellan LLC28:19 Handling security at data centers35:29 Effects of mining with natural gas on the lease agreement40:26 Lessons Christopher has learned during his time miningAbout Christopher Halvorson:Christopher Halvorson is the co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC an off-grid, decentralized digital asset technology company supporting blockchain ecosystems. Mr. Halvorson has 25 years of proven financial and corporate leadership experience with a track record of creating value for both investors and stakeholders alike.Connect with Christopher:chris.halvorson@magellanscientific.comAbout SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On this week’s episode, Tom and Phil are joined by Dwayne Purvis, a reservoir engineer and consultant. Dwayne shares his insight on Asset Retirement Obligations, most notably, well plugging liabilities. There are currently anywhere from 2 million to 2.5 million wells that need to be plugged nationwide. Dwayne came up with holdbacks as a way to cover well plugging liabilities by using all net income from a well during certain time periods. Tom, Phil and Dwayne discuss why this is an ongoing issue in the oil and gas world and Dwayne shares why he believes holdbacks could be part of the solution.Highlights:2:46 What are Asset Retirement Obligations?8:43 The estimated number of wells that need to be plugged11:47 What states have done to avoid the liability of plugging wells13:43 The problem with using cash flows to fund plugging14:52 What is a holdback?19:49 Implications of holdbacks on joint operating agreements24:11 Why PDP is actually high risk27:03 ‘You can’t change what you don’t measure.’About Dwayne Purvis:Dwayne Purvis, P.E. offers consulting and advisory services for the oil and gas industry, building on two and a half decades in reservoir engineering and executive leadership as a consultant and operator. From engineering studies and reserve reports to strategic decision-making, Mr. Purvis helps operators and investors with reliable analysis for prudent decisions.He has led or participated in hundreds of engineering studies over dozens of basins in the United States and abroad and advised on tactical and strategic decisions large and small. Mr. Purvis frequently speaks and writes on issues of shale reservoirs, the energy transition, commodity prices, decline curve analysis, and risk analysis.He is a registered professional engineer in the state of Texas, member of SPEE, AAPG, SEG, SIPES and an active, 25-year member of SPE.Connect with Dwayne:www.dpurvisPE.comhttps://www.linkedin.com/in/dpurvispe/Twitter @dpurvisPEAbout SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On this week’s episode, Tom and Phil are joined by three guests in charge of bringing the Spring COPAS meeting back in person after a two-year hiatus. Our guests today are Jennifer McKellar, Karla Zawodny and Ilene Grygar, members of the Petroleum Society of Houston, better known as PASH. Karla currently serves as PASH President and Jennifer is a co-chair. The COPAS Spring Meeting is an opportunity for members of COPAS to come together and vote on different documents that pertain to different areas of oil and gas accounting.  Find out how they had to plan it this year in a post-COVID world, and what is on the schedule for attendees and what everyone most looks forward to each year including The Revenue Committee, The Small Companies Committee and Phil’s favorite, The Hallway Track.The Spring COPAS meeting takes place April 25-29 at The San Luis Resort in Galveston Texas. Registration is open until Aprill 1,2022. For more information, see the events website here.Highlights:6:03 What events are highlighted this year8:15 Vital documents for oil and gas accountants9:18 The best part of COPAS meetings12:57 Why everyone comes year after year13:41 The little known “hallway track”17:11 What CPE credits are available24:21 How to register for the meetingLearn more about the upcoming Spring Meeting:https://www.copas.org/events/2022-spring-meeting/About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

We're back with Part 4 of a series that will highlight the voices and experiences of women across the oil and gas industry. Sarah Magruder, President of Safire Oil and Gas Consulting is back as a guest co-host. Sarah, Tom and Phil welcome our next guest, Ginnie Vierra. Ginnie is the Vice President of Finance & Accounting at Presidio Petroleum. She shares how she got started in oil and gas, how her company supports family mindset and all the different hats she wears both in work and in life.Highlights:3:12 Ginnie’s childhood aspirations4:09 Family in the industry6:01 Ginnie’s career track10:07 Marriage, motherhood and the industry11::56 How Presidio supports family mindset14:27 Kids and pigs19:07 Support makes all the difference26:38 A really exciting transaction30:57 New ways of communicationAbout Ginnie Vierra:Ginnie joined the Presidio team as the Controller in June 2018 with 7 years (10 years total now) of energy accounting experience. Prior to joining Presidio, she began her energy career with Silver Oak Energy, LLC, then as the Controller for Broad Oak Energy II, LLC, both funded by Encap Investments LP.She graduated from Texas Tech University with a BA in Accounting and The University of Texas at Arlington with a MSA in Accounting. She lives north of Fort Worth with her husband Brad and two sons, Brooks (7 yrs old) and Kason (5 yrs old).About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

We're back with Part 3 of a series that will highlight the voices and experiences of women across the oil and gas industry. Sarah Magruder, President of Safire Oil and Gas Consulting is back as a guest co-host. Sarah, Tom and Phil welcome our next guest, Ashly Wolicki. Ashly is Vice President and Chief Accounting Officer for Jonah Energy. She shares with us what’s different about Jonah Energy, her thoughts on the importance of recognition in the workplace by leadership, the best advice she has ever received.Highlights:3:12 Ashly’s childhood aspirations6:54 Ashly’s career track9:01 The value of learning over compensation17:38 The importance of empathy when it comes to leading a team19:27 Why producers are seeking responsibly sourced and produced dry gas21:10 Recognition by leaders in the workplace23:38 Being a role model30:35 Recognizing the power of patience in the industryAbout Ashly Wolicki:Ashly Wolicki currently serves as the Vice President and Chief Accounting Officer for Jonah Energy, headquartered in Denver, CO.  Prior to joining Jonah in 2017, Ashly served in various accounting leadership positions in oil and gas as well as in financial services.  Ashly received her B.S. in Finance from Metropolitan State University and later received her MBA from Regis University.  Professionally, her goals are focused on leading teams rooted in integrity, in a manner that leads to employees feeling empowered and valued.  She believes this is a recipe for high-performance, both for the employee and for the organization. When Ashly is not working, she enjoys spending time outdoors, preferably in warm weather, with her husband, two kids, and two dogs! About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

We're back with Part 2 of a series that will highlight the voices and experiences of women across the oil and gas industry. Sarah Magruder, President of Safire Oil and Gas Consulting is back as a guest co-host. Sarah,  Tom and Phil welcome our next guest, Jennifer Stewart.Jennifer shares a variety of her career experiences from being a child support enforcement officer to interim CFO,which roles were most fulfilling for her and her thoughts on whether work-life balance can be achieved.Highlights:1:52 Jennifer’s six to eight roles within her company6:43 Jennifer’s start in accounting11:25 An organic career track12:34 Diversity as a decision tool19:27 Why producers are seeking responsibly sourced and produced dry gas21:37 The most difficult part of being a CFO33:54 Why so many talented women have left the oil and gas industry37:53 Why flexibility makes more sense than rigidity in the workplaceAbout Jennifer StewartJennifer is a senior energy executive with over 30 years of legal, financial and environmental strategy experience. She is Principal Advisor for Equitable Origin EO100™ Standard for Responsible Energy Development. She also serves as Chief Sustainability Officer for Penn LNG, a Pennsylvania-based liquefied natural gas export facility that is currently under development. Jennifer recently served as Vice President Strategic Growth for Baker Hughes Emissions Management.Early 2020 Jennifer retired from the executive leadership team at Southwestern Energy, where she strategically led all regulatory, legislative, and environmental stewardship activity.Mrs. Stewart is an attorney licensed to practice in the state of Texas. She serves as an Independent Board member of Paragon Integrated Services LLC, an environmental services company where she is Chairman of the ESG committee.She is an Adjunct Law Professor at the University of Houston Law Center and previously served on the Boards of ONE Future the Natural Gas Supply Association. She has also served in leadership positions with the American Exploration and Production Counsel and the Marcellus Shale Coalition.She has been recognized as one of Texas’ Most Powerful Women in Oil and Gas by the National Diversity Council, a Top Woman in Energy by the Houston Business Journal, and received the Greater Houston Women’s Chamber of Commerce Trailblazer Award.About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.  

In part two of this episode of the podcast, Tom and Phil are back with Mike Cougevan, Vice President of Martindale Consultants. They’re talking about worker’s compensation rates, employees benefits, vehicle rates, and loading and unloading rates. They discuss the purpose of these remaining economic factors and the issues that using them can solve for operators in the industry.Highlights:1:28 Worker’s Compensation Rates5:20 Employee Benefits13:26 What can be charged for different types of employees16:24 Vehicle rates21:46 Loading and unloading ratesAbout Mike Cougevan :Mike began his Martindale career in 1994 and is a Vice President of the firm. He provides senior leadership, expertly manages clients’ joint venture audit and other projects, and shares his extensive industry experience and knowledge to train Martindale employees. Mike also provides expert witness and litigation support and has been accepted and designated as an expert in numerous State courts and in Federal court. Mike previously worked for Conoco (now ConocoPhillips) for 13 years in various positions, including financial analysis, joint interest accounting, internal reviews, managing non-operated properties, negotiation of agreements, and settlements of joint interest and revenue audits and disputes.Connect with Mike:Website | LinkedInAbout SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On the first episode of Season Two of the podcast, Tom and Phil are joined by Mike Cougevan, Vice President of Martindale Consultants. In part one of this two part episode, they’re talking about overhead adjustments and audit per diem rates. They discuss the purpose of these two factors, when they should be used, and the changes that have occurred with both factors over the years.Highlights:1:41 Approaching 40 years in the industry3:32 The various COPAS economic factors and why they exist5:00 What is overhead adjustment?9:35 What happens if operators don’t adjust their overhead? 12:58 Accounting Guideline 2317:12 Audit per diem rate and what it’s used for19:26 Why overhead adjustments and audit per diem rates are no longer adjusted using the same percentage rateAbout Mike Cougevan :Mike began his Martindale career in 1994 and is a Vice President of the firm. He provides senior leadership, expertly manages clients’ joint venture audit and other projects, and shares his extensive industry experience and knowledge to train Martindale employees. Mike also provides expert witness and litigation support and been accepted and designated as an expert in numerous State courts and in Federal court. Mike previously worked for Conoco (now ConocoPhillips) for 13 years in various positions, including financial analysis, joint interest accounting, internal reviews, managing non-operated properties, negotiation of agreements, and settlements of joint interest and revenue audits and disputes.Connect with Mike:Website | LinkedInAbout SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

On this week’s episode, Tom and Phil are joined by the team from Martindale Consultants. Roger Gann, CEO and president, Rick Roybal, Vendor Compliance Manager, Rick Jones, Accounting Manager and Ryan Woolery, Regulatory Reporting Manager, all join the discussion to talk about the different services they offer to their clients. They also share success stories in each area, like helping a company that was 12 months behind on their accounting get caught up, finding a compliance issue in a contract that brought money back into the client’s company, and helping a company with reporting on over 800 wells.Highlights:2:18 Happy 40th Anniversary to Martindale Consultants!7:43 Martindale Consultant’s typical client8:56 The top consulting areas that Martindale offers to the upstream oil and gas industry11:50 Ryan Woolery on regulatory services and what precipitates a need for consulting in that area20:40 Rick Roybal on vendor risk management audit services that are offered at Martindale27:07 Rick shares a vendor audit success story30:02 The upsides of outsourcing your accounting with Rick JonesConnect with Martindale Consultants:www.marticons.comAbout SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org

This week’s episode is part one of a series that highlights oil and gas upstream consulting firms. Today’s guest is Russell Corl, a managing partner at Magnum Forge. Russell gives us an inside look at the struggles some of his clients face, especially with regards to becoming more efficient and automating as much backend as possible, and how his consulting firm partners with operators to do just that. Magnum Forge is always excited to meet new clients and help them do a better job of running their systems so they can focus on what they're best at, which is producing oil and gas. Tom, Phil and Russell discuss the top four areas of consulting that Magnum Forge provides to the upstream oil and gas industry and why building and cultivating relationships is so important to his company.Highlights:1:49 From the IRS to a boutique consultancy4:36 Magnum Forge and the clients they serve9:12 Why relationship building is so important at Magnum Forge13:54 How Magnum Forge helps select and implement big software migrations and decisions20:52 Some of the pitfalls that are possible when you don’t have the help of a consulting company23:02 What precipitates the need for a consultant in the area of acquisition 27:51 How to optimize the accounting platform you’re usingAbout Russell Corl:Since beginning his consulting career in 1996, Russell has focused on developing strategies to ensure the effective use of IT. His background includes an in-depth understanding of accounting and finance, operations, and technology. He has led multiple IT and application projects focused on financial applications, ERP, custom development, and cross-system reporting and integration. His specialties lie in troubled ERP systems, complex system implementations, and significant financial or cost accounting reporting issues.Russell’s clients include major international oil companies and independent E&P companies. He has assisted most of these clients with software selection, implementation, and enhancement projects that span the entire enterprise. He has also led efforts to redesign and implement new data collection and reporting processes, including technology, training, and change management.Russell received a Bachelor of Science and a Master’s of Business Administration from The University of Texas at Austin.Connect with Russell Corl:www.magnumforge.comhttps://www.linkedin.com/company/magnum-forgeAbout SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.

Women make up around 22% of the workforce in the oil and gas industry. This week is the start of a series that will highlight the voices and experiences of women across the industry. The first guest in the Series is one of our previous guests, Sarah MaGruder. Sarah is the President of Safire Oil and Gas Consulting. She talks with Tom and Phil about her experiences as a woman in the industry and how it has evolved as she became a wife and a mother. They also discuss the changes that have occurred in the workplace both over the years, and during Covid and The Great Resignation.Highlights:2:15 The start of Safire Oil and Gas Consulting5:21 Almost a veterinarian10:21 From entry level to CEO13:20 Working with a great group of people15:53 How marriage and motherhood changed Sarah’s worklife21:25 Covid and The Great Resignation32:18 How different companies are promoting and highlighting women35:50 The best industry advice Sarah ever received About Sarah Magruder:Sarah Magruder is President of Safire Oil and Gas Consulting, a severance tax consulting group based out of Houston, Texas. Sarah holds a bachelor’s degree in finance from LSU and her MBA from the University of Houston. Sarah spent her almost 19-year career in severance tax, splitting her time between working directly in medium and large oil and gas companies. And as an outside consultant, is an active member of the Petroleum Accounting Society Houston, where she chairs the golf committee and is a presenter at the revenue committee, as well as an education day sponsor and presenter. Sarah has also been a speaker at numerous COPAS meetings from outside of the Houston area and presented multiple times at the API severance tax forum. She lives in Montgomery, Texas with her husband, four year old son, five horses, and two dogs.  Connect with Sarah:Sarah can be contacted via email: sarah@safireogc.com.Safire Oil & Gas Consulting’s website is www.safireogc.com.About SherWare, Inc.If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.Click here to watch a demo of the software in action right now.About COPAS:COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.Find a society near you.www.copas.org