Energy Accounting Services

The right provider must have energy sector experience. They should understand industry-specific nuances like joint interest billing (JIB), revenue recognition under ASC 606, lease operating expense (LOE) categorization, DD&A methods, and hedging and derivatives accounting.

Beyond technical expertise, look for a provider who delivers correct accounting treatments, clean and audit-ready financial statements, and strong reporting that gives leadership and stakeholders the clarity to make timely decisions.

Equally important is their ability to help you establish SOPs, internal policies, and workflows that ensure transactions are correctly categorized, and revenue and COGS are accurately recognized.

EA’s team brings hands-on energy sector expertise and a track record of helping clients implement the right accounting treatments, establish sound processes, and produce awesome reporting that drives real decisions.

Oil and gas accounting is uniquely complex because companies must choose between two specialized methods, Full Cost or Successful Efforts, each treating exploration and drilling expenses very differently.

Unlike most industries, energy companies deal with underground reserves that must be valued, depleted, and written down over time, often using engineering estimates rather than simple market prices. This creates accounting challenges you simply won’t find in other sectors, which is why working with specialists who understand the upstream lifecycle is important.

Building and retaining an in-house team with genuine energy or renewable accounting expertise is expensive and time-consuming. When you partner with us, you get immediate access to a full team of expert energy accountants without the overhead.

We bring experience drawn from working with similar companies in the industry that help us apply the right accounting treatment, SOPs and processes that helps our clients make better decisions and grow.

Each month our teams prepare a complete financial package that will include your P&L, balance sheet, cash flow statement, and a full breakdown of every balance, all backed by the supporting documents like vendor invoices and everything else.

At year-end, we finalize the books so your tax consultants receive up-to-date, organized accounts they can work from immediately without chasing missing invoices or waiting on reconciliations.