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Joint Interest Accountant - JIB

Dallas, TX 75201

Posted: 01/24/2024 Employment Type: Direct Hire Industry: LkJordan Job Number: 128385 Pay Rate: $90000 / year

Job Description

Joint Interest Billing (JIB) Accountant (PakEnergy, Formally Wolfepack)

A Joint Interest Billing (JIB) Accountant is responsible for the financial management of oil and gas exploration and production projects. The JIB accountant performs a variety of accounting functions including tracking and reconciling joint venture expenses, preparing joint interest billing statements, and providing financial analysis and reporting to management. The JB Accountant must have experience with using the software PakEnergy, formally Wolfpak.

Joint Interest Billing (JIB) Accountant Responsibilities

  • Prepare and analyze monthly Joint Interest Billing (JIB) statements for various joint ventures.

  • Process monthly JIB statements to/from working interest owners.

  • Ensure that expenses are properly recorded and allocated to the appropriate partners in accordance with the Joint Operating Agreement (JOA).

  • Reconcile general ledger accounts related to JIB accounting, including accounts payable and accounts receivable.

  • Enter new vendors, operators, and properties within the accounting system.

  • Enter new billing and revenue division orders within the accounting system.

  • Maintain and track operated and non-operated well payouts.

  • Monitor the status of joint venture agreements and maintain an understanding of the terms and conditions of each agreement.

  • Provide financial analysis and reporting to management, including budget versus actual analysis and variance analysis.

  • Communicate with joint venture partners regarding billing and payment issues and resolve any disputes in a timely manner.

  • Ensure compliance with regulatory requirements and internal controls related to JIB accounting.

  • Participate in the month-end close process and prepare journal entries as needed.

  • Assist with special projects and other duties as assigned by management.

Joint Interest Billing (JIB) Accountant Requirements

  • Bachelor's degree in Accounting, Finance, or related field.

  • 10+ years of experience in Joint Interest Billing accounting or related field.

  • 10+ years of experience and knowledge of accounting software systems, such as PakEnergy, formally Wolfepack.

  • Knowledge of generally accepted accounting principles (GAAP) and Joint Operating Agreements (JOAs).

  • Strong analytical and problem-solving skills.

  • Ability to work independently and as part of a team.

  • Excellent communication and interpersonal skills.

  • Proficiency with Microsoft Office applications, particularly Excel.
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