Oil & Gas
Thayer O’Neal’s expertise in the oil and gas audit, tax and accounting issues provides you with the insight to help meet the complex challenges unique to the energy industry. Through audit and enterprise risk, tax, consulting, and financial advisory services, our team provides comprehensive services and solutions to help move your business forward.
Our oil and gas clients range from start-up exploration and development companies to operating production companies. Whether you are an operator or non-operator, gas vs. oil, focused or domestic vs. international company, we understand your business and can provide you the expertise you need
Auditing oil and gas and other extractive industries is unique. We provide oil and gas companies with audits and reviews of financial statements and reporting on internal controls in accordance with professional standards. We have audit teams with a deep understanding of the auditing issues unique to the oil and gas industry.
ThayerONeal’s tax professionals can address your need for specialized tax knowledge, and supplement your tax organization while understanding the details important to oil and gas companies. We can help you explore ways to reduce your tax exposure by helping you understand and manage critical tax issues. The dramatic changes occurring in the tax arena require companies to do more proactive planning to help maintain a competitive advantage
We understand the accounting and reporting implications for oil and gas companies including:
- Derivative Accounting
- Successful Efforts Accounting
- Purchase Accounting
- Production Revenue and Royalty Accounting
- Joint Venture Accounting and Joint Interest Billings
- Depletion, Depreciation and Amortization
- Asset Retirement Obligations and Environmental Issues