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Oil and Gas

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Keeping You Focused on Your Core Business: Oil and Gas

At MaloneBailey, LLP, we understand the complexities of the oil and gas industry and the numerous challenges you face. Your audit, accounting and tax requirements should not be a distraction to the focus of your core business. Our seasoned professionals provide specialized SEC-regulated audit, private audit and tax services to upstream, midstream and downstream companies. Our client base includes drilling, exploration and production, refining and marketing, gas marketing and distribution companies.

At MaloneBailey, LLP, we understand the accounting and reporting implications for oil and gas companies including:

  • SEC Rule SX 4-10 Full Cost Accounting
  • FAS 19 Successful Efforts Accounting
  • FAS 141 Purchase Accounting
  • Production Revenue and Royalty Accounting
  • Joint Venture Accounting and Joint Interest Billings
  • Depletion, Depreciation and Amortization
  • FAS 143 Asset Retirement Obligations and Environmental Issues
  • Reserve Report and FAS 144 Analysis
  • FAS 69 Oil and Gas Reporting Disclosures
  • Multi-Currency Accounting and Reporting
  • Production Imbalances
  • Debt and Equity Financing Arrangements
  • FAS 133 Derivative Accounting

MaloneBailey brings value to the table, not just compliance. The MaloneBailey team understands our business and has been a dependable strategic partner since our inception.

Michael Aldridge
Saratoga Resources, Inc.

Our oil and gas clients range from start-up exploration and development companies to operating production companies with over half a billion in properties and make up 25% of our client base. 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.

The oil and gas sector presents its own set of unique tax challenges. Our tax department is prepared to meet those challenges with a depth of experience advising on tax issues that are prevalent in the oil and gas industry. Our clients understand the importance of selecting advisors who appreciate the history and evolution of oil and gas tax issues, given the sparseness of code provisions and ever-changing tax environment that exists today. Our team has the experience that clients need to address complex issues and intricacies of depletion or intangible drilling cost rules.

Specialists in our oil and gas practice demonstrate an inherant understanding of the industry and provide expertise to help clients address critical business issues.

Our service offering includes:

  • Public Company Audit Services
  • M&A Financial Due Diligence
  • Audit, Review and Compilation of Financial Statements for Closely-held Companies
  • Tax Planning and Preparation
  • Tax Dispute, IRS Representation and Other Related Services
  • Consultation on Complex Accounting Issues
  • Small Business Advisory Services

For additional information regarding our petroleum industry accounting and advisory services, please contact George Qin  or Jay Norris.

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