Industry

Oil and gas regulatory reporting is often viewed as a compliance-driven administrative function that simply communicates operational activity to government agencies.  In practice, however, regulatory reporting serves as a critical bridge between field operations, accounting records, and regulatory requirements. It does more than document production, revenue, and well activity—it determines how those activities are

Revenue accounting in oil and gas is where operational reality meets financial consequence. Every barrel produced, every ownership change, every pricing adjustment eventually flows through revenue systems. When those systems are accurate, they quietly support the business. When they are not, the impact is immediate and compounding. Unlike reporting at

In the oil and gas industry, contracts play a central role in how projects are executed and how money moves. Operators rely on suppliers for a multitude of services, from drilling and transportation to maintenance and field services, and each of those relationships is governed by detailed agreements that define pricing, scope, and expectations.  The challenge is that these

Oklahoma’s passage of Senate Bill 227 introduces a targeted—but important—update to property tax treatment within the oil and gas sector. The key change: SB 227 expands the property tax exemption for oil and gas production equipment to now include flowlines and gathering lines. Specifically, the exemption applies to infrastructure that

The 2026 Oil & Gas State Reporting (OGSR) Conference is officially in the books, and what an impactful few days it was in Oklahoma City.  From February 8–10 at the exceptional OKANA Resort & Indoor Waterpark, Martindale Consultants welcomed 150 attendees, vendors, and sponsors from across the country. Production and revenue accounting professionals, state

Accurate royalty and revenue payments are foundational to trust and financial stability in the oil and gas industry. When payments are incorrect or delayed, the consequences can be significant, including strained owner relationships, audit exposure, regulatory risk, and financial loss. Given the complexity of ownership structures, contracts, and reporting requirements, errors

The oil and gas industry presents unique financial and operational challenges. With revenue streams that vary by contract terms, complex ownership structures, and constantly changing regulatory demands, energy companies face a level of accounting complexity few other sectors experience.  Choosing the right accounting firm is essential for operators, non-operators, mineral

Oil and gas audits can mean many things within the oil and gas industry.  Martindale’s audit group specializes in revenue audits, royalty audits, joint interest or joint venture audits.  Audits are typically prompted by a question or anomalies identified in revenues, expenditures, or reporting that needs clarity.  While an operator may answer high-level questions during

Martindale Consultants, a leader in oil and gas consulting industry, has officially become a 100% employee-owned company, marking a transformative moment in its storied history. On December 19, 2025, Martindale finalized the transition to an Employee Stock Ownership Plan (ESOP), empowering every team member with a direct stake in the company’s future.     An ESOP

For oil and gas companies, achieving compliance with federal reporting requirements can feel like an uphill climb. Between evolving regulations, data complexities, and the growing demand for transparency, even the most seasoned accounting teams face challenges with accurate and on time filings. Understanding where those challenges stem from, and how

Amplify Energy divested its Haynesville assets for $127.5 million in Harrison County, TX. The assets included 180,000 acres with a 56% working interest and net production of 6,400 BOED.   Expand Energy established a 75,000 acre position in the western Haynesville through $178 million in land acquisitions and capital carry that include 200 drilling locations in Houston, Anderson, Freestone, and Leon counties, TX.    Jade Owls acquired Midcontinent assets for $130 million. The company declined to identify the seller or

What the One Big Beautiful Bill Could Mean for Oil & Gas Operators The recently passed One Big Beautiful Bill (OBBB) is poised to reshape the U.S. energy landscape in significant ways — particularly for companies operating in oil and gas.  While many of the bill’s provisions are designed to encourage growth

TotalEnergies acquired a 25% interest in Block 53 offshore Suriname from Spain’s Moeve. Block 53 is operated by APA, which holds a 45% interest, and Petronas, which holds a 30% interest. The block is east of Block 58, which holds the Baja-1 discovery and is where TotalEnergies holds 40% interest

What is a vendor contract compliance audit in the oil and gas industry?  The oil and gas industry is unique in that a significant portion of operations are performed by third-party vendors—often far from company headquarters and direct management. This creates both operational and financial risks to a company’s performance.

Unclaimed property reporting has strict reporting deadlines and failure to report could result in penalties and interest. These deadlines vary by state, and it is important to adhere to the reporting requirements for each state. Texas has a fast-approaching deadline of July 1st for all unclaimed property reporting. Have you

EQT acquired Olympus Energy for $1.8 billion. Olympus owns 90,000 net acres in southwest PA, adjacent to EQT’s existing Marcellus portfolio, with net production of 500 MMCFD, 165 gross Marcellus drilling locations; and 60 gross locations in the Utica. Stonepeak purchased a 46.3% stake in Repsol’s NM and TX solar

We’re proud to be featured in Energy Business Review for our long-standing commitment to excellence in the oil and gas industry. This feature highlights the unique strengths that have positioned Martindale Consultants as a trusted advisor to energy companies across the country. From our founding in 1982 to our current

The Council of Petroleum Accountants Societies has released its annual economic factors for 2025, including a 6.3% overhead adjustment factor, effective April 1, 2025. What are COPAS Economic Factors and why are they important? The Council of Petroleum Accountants Societies (COPAS) model form accounting procedures reference multiple adjustments or “factors”

The State of Wyoming requires all oil and gas producers to annually file Gross Products (Ad Valorem) tax, which is an Ad valorem property tax based on a taxable value of the previous year’s production. The Gross Products tax is primarily used to fund local school districts (K-12 education) and

Canadian Natural Resources will own 100% of the Athabasca Oil Sands Project after acquiring Shell’s 10% interest in exchange for a 10% interest in the Scotford Upgrader and Quest Carbon Capture and Storage facilities. Canadian Natural adds 31,000 BBLD of production and retains an 80% working interest in the CCS