Controller

The Energy People Group; Midland (TX); On-site; USD 90,000 - 120,000; Full time

Job summary

A leading independent producer in Midland, Texas is seeking a skilled Controller to oversee financial reporting and technical accounting. The ideal candidate will have a Bachelor's degree in Accounting or Finance, strong leadership skills, and in-depth knowledge of GAAP. Responsibilities include preparing financial statements, supervising the accounting team, and ensuring compliance with accounting standards. This is a key role in a dynamic environment, offering the opportunity to drive financial success.

Qualifications

• Strong understanding of oil and gas accounting principles and practices.
• In-depth knowledge of GAAP, financial reporting, and accounting principles.
• Experience with financial software and ERP systems.

Responsibilities

• Prepare timely financial statements and reports.
• Oversee technical accounting and property accounting.
• Supervise the Accounting team and provide guidance.

Skills

Leadership

Detail-oriented

Analytical skills

Communication skills

Problem-solving

Education

Bachelor’s degree in Accounting or Finance

Tools

ERP systems

Microsoft Suite

Job description

About The Company

A dynamic independent producer based in Midland, Texas, committed to excellence in financial management and operational success. We are seeking a highly skilled Controller to join our team, bringing technical expertise and leadership to drive our financial reporting, technical accounting, and property accounting functions.

Job Summary

The Controller will play a critical role in overseeing financial reporting, technical accounting, and property accounting functions. Reporting directly to the Chief Accounting Officer, the ideal candidate will combine deep technical accounting expertise with strong communication skills to lead a team of accountants in a fast-paced, collaborative environment. This role requires the ability to mentor and develop talent, ensure accuracy in financial processes, and contribute to cross-functional initiatives.

General responsibilities include but are not limited to the following:

Financial Reporting

• Prepare timely financial statements, cash flow analysis and other reports to summarize and interpret current and projected company financial position.
• Review monthly trial balance and ensure accurate recording of financial transactions in the general ledger.
• Perform monthly close activities and account reconciliations.
• Coordinate, maintain, and oversee all financial transactions.
• Record monthly revenue/expense accruals for all entities.
• Conduct variance analysis of budget vs. actual financial performance.
• Prepare financial statements (including footnote disclosures, elimination and consolidation entries), work papers and supporting schedules for the annual audit.
• Establish and maintain a strong relationship with other departments within the company including Operations, Reservoir Engineering, Budgeting and Planning, Human Resources, and management to facilitate accurate financial reporting, financial statement preparation and analysis.

Technical Accounting

• Stay current with new accounting standards and practices relevant to the oil and gas industry.
• Research technical accounting issues, document companies’ positions and ensure compliance with applicable U.S. GAAP.
• Develop and update the Accounting Policies & Procedures manual.
• Track and report on all debt transactions and interest calculations.
• Track and report hedging positions, and realized and unrealized gains and losses, ensuring compliance with GAAP.
• Maintain capital accounts and oversee equity ownership records of all entities.
• Review and adjust accrued liabilities and investments in related parties.
• Liaise with external tax preparers and external auditors.
• Coordinate the preparation of tax returns and tax reporting for state, federal, and local authorities.
• Provide support for special projects and perform other duties as assigned.

Property Accounting

• Participate in the Acquisition & Divestiture Team meetings on a weekly basis.
• Perform monthly oil and gas property accounting entries for acquisitions, divestitures and trades and prepare oil and gas property rollforwards.
• Calculate and record monthly depreciation, depletion, and amortization for all entities. Perform impairment testing on all entities when required.
• Verify and validate cost allocations to appropriate cost centers.

Supervisory Roles

• Oversee Accounting team, supervising direct reports.
• Presents recommendations to CAO on short-and long-term objectives and policies for the accounting department.
• Provide guidance and direction and lend expertise to all direct reports, ensuring the efficiency and effectiveness of the Accounting Department, that all questions are answered, and technical issues are resolved. Specifically:
  • Design and implement workflows to maximize efficiency and effectiveness of the overall Accounting Department and to ensure appropriate workload distribution across all accounting team members.
  • Drive continued improvement in the individual and group performance of the accounting team members, especially in the areas of accuracy timeliness, collaboration, efficiency, and professionalism.
  • Provide technical accounting coaching and training to accounting department personnel to increase their knowledge base and technical skills.
  • Coach team to assist them in reaching both their professional and company goals.

Knowledge, Skills and Abilities

• High level of integrity and ethical standards.
• Strong understanding of oil and gas accounting principles and practices.
• In-depth knowledge of GAAP, financial reporting, and accounting principles.
• Strong leadership and team management skills.
• Detail-oriented and precise in financial recording and reporting.
• Strong organizational and analytical skills.
  • Ability to thrive in a fast-paced, dynamic environment.
  • Excellent written and oral communication skills.
  • Pleasant, professional demeanor and ability to interact with a variety of stakeholders.
  • Self-starter, needing little supervision.
  • Ability to solve problems and troubleshoot issues.
  • Experience with ERP systems and financial software.
  • Proficient in Microsoft Suite.

Minimum Qualifications

• Bachelor’s degree in Accounting or Finance or equivalent experience.

Preferred Qualifications

• CPA certification.