Joint Interest Billing (JIB) Accountant
Denver, CO
Full Time
Accounting
Experienced
| Position Title: Department: | Joint Interest Billing (JIB) Accountant Accounting |
| Location: | Denver |
| Reports to: | Operations Accountant |
| Salary Range: | $73,000 – $92,000 |
Essential Functions
- Prepare, process, and distribute monthly JIBs in Bolo.
- Maintain JIB decks and ensure accurate billing to partners.
- Analyze and correct allocation errors.
- Coordinate partner approvals for capital projects.
- Manage JIB audits and provide audit support.
- Perform variance analysis of budget versus actual financial performance.
- Maintain compliance with regulatory reporting requirements.
- Ensure timely collection of outstanding JIB receivables.
- Assist with annual audits related to joint interest billing.
- Prepare monthly Accounts Receivable (AR) and JIB Suspense reconciliations. Works with land to reduce Suspense where possible and contacts partners to resolve overdue AR.
- Review and posts cash deposits and cash applications.
- Prepare Cash Calls to partners and tracks application to JIBs.
- Review and posts Accounts Payable (AP) and JIB vouchers, Non-Operating JIBs and Journal Entries.
- Review other monthly reconciliations relating to JIB and AP processes.
- Prepare monthly G&A Accrual entries, Accrued Expenses Reconciliation and Rent entries and Reconciliation.
- Oversee bill-out of Overhead including Drilling, Completion, Producing, Major Construction and Field Office Expense.
- Set up LOE and Capital allocations in Bolo. Processes allocations and reallocations where necessary.
- Process Operated JIBs through software (ie EnergyLink); resolves partner disputes; closes offset disputes.
- Process JIB Deck Ownership changes as provided by land.
- Update monthly Payout schedule and publishes to reserves group and partners. Notifies land of approaching payouts so title work can begin.
- Bills out gathering fees for operator owned pipelines.
- Works with auditors on Joint Venture Audits of associated operators.
- Works with Revenue on monthly process for netted owners.
- Provides support for OpenInvoice Cost Center and/or coding validations.
- Provides customer service internally and externally for JIB related needs/questions.
SKILLS AND KNOWLEDGE
- Advanced skills in Microsoft Excel and other Office applications.
- Strong understanding of oil and gas accounting principles, including cost allocation, lease operating expenses, and AFE reporting.
- Knowledge of regulatory compliance standards.
- Exceptional analytical skills with the ability to interpret complex financial data.
- Effective communication skills for liaising with partners and auditors.
- Strong organizational abilities to manage multiple priorities under tight deadlines.
- Experience with OpenInvoice systems.
- Familiarity with tax regulations relevant to the oil and gas industry.
- Knowledge of COPAS guidelines for overhead calculations.
Qualifications
- Bachelor's degree in Accounting or related field (preferred)
- 5+ Years of experience in oil and gas accounting, with at least 3 years focusing on joint interest billing.
Supervisory Responsibilities
Work environment
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.- Job is performed in an office setting with exposure to computer screens and requires regular use of a computer, keyboard, mouse, and multi-line telephone system.
- The noise level in the office environment is usually quiet.
- Specific vision abilities required by this job include close vision, distance vision and ability to adjust focus.
Physical demands
- May require occasional lifting of heavy objects.
- The employee is regularly required to stand, walk, and reach with hands and arms.
employee benefits
Prairie Operating Employee Co., LLC offers competitive compensation and benefits programs which include, but are not limited to, health care coverage, retirement plan, protection coverage, time off and leave programs, training and development opportunities and a range of allowances connected to specific work situations.
We do not discriminate on the basis of race, religion, national origin, sex, sexual orientation, gender identity, age, physical or mental disability, marital status or veteran status.
Prairie Operating Employee Co., LLC reserves the right to modify this job description at its discretion at any time. This job description is not intended to be all-inclusive and does not imply that these are the only duties to be performed by the employee(s) incumbent in this position. Employee(s) will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments.”
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