Accounting – Martindale Consultants, Inc.

Martindale’s outsourced accounting group grows as you grow. Whether your operations require only part-time staff or a fulltime workforce, Martindale can be your complete back-office solution or perform one or more accounting tasks to supplement your existing staff.

Why Choose Martindale?

Martindale provides the industry best in oil and gas accounting and back-office solutions.

We tailor our accounting services to fit your needs.

Martindale incorporates technology and automation in its processes to ensure efficiency and effectiveness, enabling sufficient use of time and resources.

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Revenue Distribution

Record deposits and revenue
Monthly oil and gas revenue allocations
Gas plant accounting
Revenue and royalty distributions
Severance tax calculations and analysis
Backup withholding
Suspense review and reconciliations
Process prior period adjustments
Work with regulatory to ensure timely and accurate reporting

Joint Interest Billing

Calculate producing overhead, drilling overhead, and construction overhead, and perform annual adjustments
Perform allocations for shared costs such as fieldwide costs, pumper routes, vehicles, and company labor
Process joint interest billings (JIB) distributions
Authorization for Expenditure (AFE) creation, tracking, and review

Accounts Payable

Record and code invoices
Set up approval processes
Invoice payments
Maintain vendor files, including COIs and tax exemptions

Accounts Receivable

Record deposit information
Prepare aging reports
Maintain owner netting

Fractional CFO / Controller

Martindale offers fractional CFO and/or controller solutions. We provide the following CFO / controller level functions.
Management and oversight of accounting tasks and staff
Financial statement compilation and review
Treasury functions
Budget analysis
LOS analysis

Cash Flow Management

Monthly bank reconciliations
Cash status analysis
Cash call calculations
Positive pay processing
ACH / Wire processing

LOS Statement Analysis

Create LOS statements
Provide metrics such as realize prices, expense ratios, differentials, etc.

Mineral Management / Non-Operated Properties

Receive and deposit monthly revenues or royalties
Pay, track, and maintain monthly JIB records
Prepare Lease Operating Statements/profit and loss analysis
Monthly expenses, revenues, and volumes analysis and verification
Digital record-keeping and agreement retention
Customized monthly and quarterly reporting
Bank reconciliations and cash management

Owner Relations

Maintain owner relations phone and email
Timely respond to owner inquiries
Track inquiries
Update owner records

Division Order of Interests

Maintain division order of interests (DOI) decks
Process DOI changes
Review documentation prior to DOI changes

Escheatment / Unclaimed Property

Maintain escheatment records
Manage escheatment process
Adhere to state deadlines for escheatment

Temporary Staffing

Provide in-house or remote staffing solutions
Augment existing staff during system upgrade or implementation, acquisitions, or other periods of increased accounting activity
Provide temporary solutions during FMLA leave or for abrupt departures

Financial Reporting

Monthly, quarterly, and/or annual financial statement compilation
Account Reconciliations
Roll Forwards
Equity Distributions
Hosting of financial audits
Provide information to tax preparers
Prepare and file 1099s

COPAS Consultation

Martindale knows COPAS. Martindale employees have served on a multitude of drafting teams to create COPAS Accounting Procedures and publications, served as char of Audit, Revenue, Emerging Issues, CEPS, Vehicles, and other committees, and served in various leadership and Board of Director positions at both the local and national level.

Martindale utilizes various accounting software to support client needs including Pak Energy (previously WolfePak) and Quorum’s On Demand Accounting (ODA). If you already have accounting software or are looking to weigh the pros and cons of switching to a different software solution, Martindale has experience with a variety of oil and gas accounting software solutions. We are experts in Excel and have experience in other programs including QuickBooks, various mineral management programs, EnergyLink, and the Salesforce platform.

Kody Impson