Oil and Gas Accounting

<p>Finance/Acct double major looking into working in oil/gas accounting.</p>

<p>Any one have any experience or recommend any companies? Thanks</p>

<p>I have zero experience in this area, but know a guy who says he's starting at 80k straight out of a MS Accting program in this industry. I forget what company, but I was pretty shocked.</p>

<p>good to know.</p>

<p>What the heck is oil/gas accounting?</p>

<p>There are special issues with accounting in oil and gas companies. For example, an oil company may have 10,000 barrels of oil which cost a certain amount to drill in the first place. How do you allocate the cost of initially digging the well(which was mostly incurred before they got the first drop of oil out) to your inventory of oil? Plus how does a company account for the loss in value in terms of depletion of oil reserves in the ground it has rights to. If Walmart buys a plot of land for a million dollars it stays on its books as a million dollars. If Chevron buys a plot of land for a million because there is what it thinks is a million dollars of oil in there, surely it's still not worth a million dollars once it has been sucked bone dry. </p>

<p>Personally, I don't give a crap about the answers to these questions as far as oil and gas is concerned, so I have only vague answers to these questions. I guess that's what oil and gas accounting classes are for.</p>

<p>It's about how much mileage you can get out of your car with X amount of oil. </p>

<p>It's also about how many beans you can get eat and produce X amount of gas.</p>

<p>"It's also about how many beans you can get eat and produce X amount of gas."</p>


<p>Go to Vault, look at the industries, click the "+" by "Energy" and click on "Oil and gas"</p>

<p>I don't know how they are ranked and the page won't load for some reason right now, but I'll give you my 2 cents.</p>

<p>Exxon is king in the US by far in profits and volume. I know several people who work for them and they like it and say it's a very good company. The media sometimes criticizes them for environmental things, but, according to the people I know who work there, most criticisms are grossly exaggerated or even outright lies and Exxon just takes hits because it's the face of oil and that it's actually a very responsible company if you are concerned about that.</p>

<p>Chevron is the second biggest. I only know one person who works for them and he was doing some kind of engineering work in Norway and Russia, so I can't tell you much.</p>

<p>ConocoPhillips and Valero are good ones to work for. Marathon is a little smaller, but the CEO came to talk at my university last semester and some of my friends went and said he was a cool guy, so I'd look into them as well.</p>

<p>The big European companies, British BP, Dutch Shell, and French Total have US offices, though I know Total only has a corporate office in Houston, though that's where a lot of the best jobs in oil and gas are going to be.</p>