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Author Archives: sw-blogs

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5 Best Oil & Gas Blogs to Follow

Does catching up on current events that aren’t promoted on your Facebook newsfeed or highlighted on the the radio seem like a luxury? Blogs are where I usually turn to to decompress, but honestly, the oil and gas industry doesn’t have many interesting bloggers right now. Instead, here’s a list of the top five sites […]

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Death by Spreadsheet

Does the following describe you? You own an oil and gas operating company and to save money you or someone else has setup an elaborate spreadsheet to track your oil and gas disbursements. You’ve spent hours setting up this spreadsheet and have duplcated the sheet for each well you operate. You have the steps memorized. […]

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Oil & Gas Accounting 101 – Joint Interest

Due to the capital intensive, high-risk nature of developing oil and gas properties, companies routinely combine their capital and knowledge in joint operations to share the cost and reduce risk. These sharing arrangements usually involve the transfer an operating interest or non-operating interest by one party to another in exchange for a contribution to the […]

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Oil & Gas Accounting 101 – Leases

  A mineral lease is a contract between a mineral owner (lessor) and a second party (lessee). The lessor grants to the lessee the exclusive right to drill for and produce oil and gas, or other minerals on the property described in the lease. A lease usually provides for: Cash (lease bonus) payable to the lessor upon the execution of […]

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3 Reasons To Purchase Oil & Gas Software

For small or medium sized oil and gas companies, software is often an overlooked part of their business process. People often assume that software is too costly and does not provide a good return on investment (ROI). Here are some important things that aren’t always at the top of your list to consider when deciding whether to upgrade your […]

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Oil & Gas Accounting 101 – Terminology

  To be able to work effectively in Oil & Gas Accounting, you need to understand some of the terminology for the oil & gas industry. Here are some of the terms you’ll encounter…   Authorization for Expenditure (AFE) – A document shown to investors in a well that will estimate drilling and completion costs. An AFE […]

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Oil and Gas Accounting – Account for What?

As we’ve said in a prior post, “Accounting is Accounting”. This means that all accounting is essentially the same except for what you’re “accounting” for. What are you keeping track of? In the case of oil & gas accounting, you’re keeping track of wells that are being drilling and the products those wells produce over […]

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