44 episodes

If you're a CPA, an accountant, a bookkeeper, an office manager, or if you're an oil and gas operator that's doing the accounting yourself, you are who our brand new podcast is for. We’ve partnered with Tom Wierman, Executive Director of COPAS (The Council of Petroleum Accounting Society) to bring you the Oil & Gas Accounting Podcast. We noticed that no one has the conversations that actually help oil and gas accounting professionals do their job better, so we decided to change that and start to discuss the things and common issues and questions we know our clients and partners ask, and that you may be wondering yourself.

The Oil & Gas Accounting Podcast SherWare, Inc. & COPAS

    • Business
    • 4.8 • 11 Ratings

If you're a CPA, an accountant, a bookkeeper, an office manager, or if you're an oil and gas operator that's doing the accounting yourself, you are who our brand new podcast is for. We’ve partnered with Tom Wierman, Executive Director of COPAS (The Council of Petroleum Accounting Society) to bring you the Oil & Gas Accounting Podcast. We noticed that no one has the conversations that actually help oil and gas accounting professionals do their job better, so we decided to change that and start to discuss the things and common issues and questions we know our clients and partners ask, and that you may be wondering yourself.

    The Value of Satellite Imagery In Oil and Gas Analysis With Eric Anderson

    The Value of Satellite Imagery In Oil and Gas Analysis With Eric Anderson

    On this week’s episode, Tom and Phil are joined by Eric Anderson, Chief Technology Officer for SynMax.  SynMax uses imagery and data collected by satellites combined with AI to deliver insight to the oil and gas industry that has previously only been modeled or forecasted. This allows producers, hedgers and energy traders the ability to clearly see what’s happening and make better decisions. Eric explains that the perfect combination of factors have come together with the ability to create something really valuable using satellite imagery for the oil and gas industry and many other industries as well.
    Highlights:
    4:57 The Start of SynMax
    7:17 How much it would cost you to buy your very own satellite
    12:04 How the data collected by satellites is used
    14:02 How satellites have been used in the past
    16:39 Why the data provided by these satellites is important
    22:03 Other products SynMax offers
    22:18 Dark vessel detection
    32:51 Tracking emissions with satellites
     
    About Eric Anderson:
     
    Connect with Eric:
    www.synmax.com
     
    About SherWare, Inc.
    If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.
    SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
    Click here to watch a demo of the software in action right now.
    About COPAS:
    COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.
    Find a society near you.
    www.copas.org

    • 41 min
    Saving Time and Money With Data Gumbo with Robin Macmillan

    Saving Time and Money With Data Gumbo with Robin Macmillan

    On this week’s episode, Tom and Phil are joined by Robin Macmillan, Chief Sales Officer of Data Gumbo. Robin is giving us all the details on how Data Gumbo’s GumboNet™, a private blockchain, can replace manual processes in your business with automation providing more efficiency, improved business relationships and saving on expenses in the process. Robin also introduces smart contracts and  gives examples of ways they can  work in oil and gas scenarios.
    Highlights:
    1:34 From a geology degree to drilling
    4:42 Handling smart contracts with a private blockchain
    8:10 Using a blockchain for transactions and smart contracts
    10:58 What is a smart contract?
    14:31 The greatest benefits of using smart contracts
    20:58 Verifying and testing a contract before it goes into service
    23:21 Limitations of a smart contract
    35:15 Generating carbon credits
    38:33 How to get started with blockchain and smart contracts in the oil and gas industry
     
    About Robin Macmillan:
     Robin Macmillan is the Chief Sales Officer at Data Gumbo. With a 40+ year career in energy, he was previously Senior Vice President for Business Development at National Oilwell Varco (NOV Inc.), Manager of Schlumberger Drilling and Measurements in Canada and President at the drill bit company ReedHycalog. He is the current VP of Drilling Services at the International Association of Drilling Contractors (IADC), where he is also Chair Emeritus of the Advanced Rig Technology committee.  He is also former vice-chair of the Society of Petroleum Engineers (SPE) Drilling Systems Automation Technical Section. Robin holds a degree in Geology from the University of Leeds in England. 
    Connect with Robin:
    https://www.linkedin.com/in/robinmacmillan/
    https://www.datagumbo.com/en/
     
    About SherWare, Inc.
    If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.
    SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
    Click here to watch a demo of the software in action right now.
    About COPAS:
    COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.
    Find a society near you.
    www.copas.org

    • 48 min
    Developing Your ESG Strategy with Laurie Hoose

    Developing Your ESG Strategy with Laurie Hoose

    On this week’s episode, Tom and Phil are joined by Laurie Hoose, ESG Consulting Project Manager at Plante Moran. Today’s discussion is revisiting a previously discussed topic, ESG, or Environmental Social Governance. A company’s policies around ESG have become more important than ever to the company’s investors, consumers and even the talent that the company attracts to it’s workforce. Laurie shares the big news and changes with ESG over the past year and how Plante Moran can help a company develop an ESG strategy.
    Highlights:
    2:01 What’s new with ESG?
    5:53 The history and evolution of ESG
    10:14 Social and governance issues and why they are important to the oil and gas industry
    15:47 The starting point for a company that doesn’t have an ESG program in place
    21:34 How your network can be an asset when creating ESG policies
    23:58 Elon Musk and the lack of criteria around what qualifies a company to be part of ESG Index Funds
    About Laurie Hoose:
     Laurie has over eighteen years of experience, and helps her clients on their environmental, social, and governance (ESG) programs. This includes helping to align investor requirements and stakeholder requests for ESG disclosures to the organization’s strategic goals, and determine what disclosures are material and how they should be gathered to ensure timely, accurate information that is transparent and reliable. Laurie helps her clients achieve their objectives, identify opportunities, and reduce organizational and investor risk through actionable, measurable, and continuous improvements.Laurie’s educational background includes a BS in computer science from the University of Michigan, and an MBA in international business from Brandeis University, where she focused on Corporate Social Responsibility (CSR). She also obtained a minor in Corporate Environmental Governance from Copenhagen Business School. She is a member of the Project Management Institute (PMI), a certified Project Management Professional (PMP), and is an FSA Level II Candidate for the Fundamentals of Sustainability Accounting credential.
    Connect with Laurie Hoose:
    www.plantemoran.com
    https://www.plantemoran.com/explore-our-thinking/insight/2021/10/esg-reporting-seven-steps-to-get-started
     
    About SherWare, Inc.
    If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.
    SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
    Click here to watch a demo of the software in action right now.
    About COPAS:
    COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.
    Find a society near you.
    www.copas.org

    • 28 min
    Uplevel Your Oil and Gas Accounting with Martindale Consultants

    Uplevel Your Oil and Gas Accounting with Martindale Consultants

    On this week’s episode, Tom and Phil are joined by the team from Martindale Consultants. Roger Gann, CEO and president, Rick Roybal, Vendor Compliance Manager, Rick Jones, Accounting Manager and Ryan Woolery, Regulatory Reporting Manager, all join the discussion to talk about the different services they offer to their clients. They also share success stories in each area, like helping a company that was 12 months behind on their accounting get caught up, finding a compliance issue in a contract that brought money back into the client’s company, and helping a company with reporting on over 800 wells.
    Highlights:
    2:18 Happy 40th Anniversary to Martindale Consultants!
    7:43 Martindale Consultant’s typical client
    8:56 The top consulting areas that Martindale offers to the upstream oil and gas industry
    11:50 Ryan Woolery on regulatory services and what precipitates a need for consulting in that area
    20:40 Rick Roybal on vendor risk management audit services that are offered at Martindale
    27:07 Rick shares a vendor audit success story
    30:02 The upsides of outsourcing your accounting with Rick Jones
    Connect with Martindale Consultants:
    www.marticons.com
    About SherWare, Inc.
    If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.
    SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
    Click here to watch a demo of the software in action right now.
    About COPAS:
    COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.
    Find a society near you.
    www.copas.org

    • 46 min
    Uplevel Your Oil and Gas Upstream Accounting with Magnum Forge

    Uplevel Your Oil and Gas Upstream Accounting with Magnum Forge

    This week’s episode is part one of a series that highlights oil and gas upstream consulting firms. Today’s guest is Russell Corl, a managing partner at Magnum Forge. Russell gives us an inside look at the struggles some of his clients face, especially with regards to becoming more efficient and automating as much backend as possible, and how his consulting firm partners with operators to do just that. Magnum Forge is always excited to meet new clients and help them do a better job of running their systems so they can focus on what they're best at, which is producing oil and gas. Tom, Phil and Russell discuss the top four areas of consulting that Magnum Forge provides to the upstream oil and gas industry and why building and cultivating relationships is so important to his company.
    Highlights:
    1:49 From the IRS to a boutique consultancy
    4:36 Magnum Forge and the clients they serve
    9:12 Why relationship building is so important at Magnum Forge
    13:54 How Magnum Forge helps select and implement big software migrations and decisions
    20:52 Some of the pitfalls that are possible when you don’t have the help of a consulting company
    23:02 What precipitates the need for a consultant in the area of acquisition 
    27:51 How to optimize the accounting platform you’re using
    About Russell Corl:
    Since beginning his consulting career in 1996, Russell has focused on developing strategies to ensure the effective use of IT. His background includes an in-depth understanding of accounting and finance, operations, and technology. He has led multiple IT and application projects focused on financial applications, ERP, custom development, and cross-system reporting and integration. His specialties lie in troubled ERP systems, complex system implementations, and significant financial or cost accounting reporting issues.
    Russell’s clients include major international oil companies and independent E&P companies. He has assisted most of these clients with software selection, implementation, and enhancement projects that span the entire enterprise. He has also led efforts to redesign and implement new data collection and reporting processes, including technology, training, and change management.
    Russell received a Bachelor of Science and a Master’s of Business Administration from The University of Texas at Austin.

    Connect with Russell Corl:
    www.magnumforge.com
    https://www.linkedin.com/company/magnum-forge
    About SherWare, Inc.
    If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.
    SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
    Click here to watch a demo of the software in action right now.
    About COPAS:
    COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.
    Find a society near you.

    • 45 min
    How To Start A Successful Bitcoin Mining Operation Using Natural Gas with Chris Halvorson

    How To Start A Successful Bitcoin Mining Operation Using Natural Gas with Chris Halvorson

    On this week’s episode, Tom and Phil are joined by Christopher Halvorson, co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC. Christopher shares his journey with mining cryptocurrency that started in 2019 when he was approached about buying stranded natural gas in well sites and using it to mine cryptocurrency. He talks about the importance of understanding the capital and expense side of crypto-mining before getting started with it, the learning curve involved and the lessons he has learned so far.
    Highlights:
    3:58 Stepping into bitcoin mining
    6:48 How to get started with cryptocurrency
    12:37 A ‘walk before you run’ process
    17:04 Application Specific Integrated Circuits(ASICs) and their cost
    21:14 The benefits of being off-grid for Magellan LLC
    28:19 Handling security at data centers
    35:29 Effects of mining with natural gas on the lease agreement
    40:26 Lessons Christopher has learned during his time mining
    About Christopher Halvorson:
    Christopher Halvorson is the co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC an off-grid, decentralized digital asset technology company supporting blockchain ecosystems. Mr. Halvorson has 25 years of proven financial and corporate leadership experience with a track record of creating value for both investors and stakeholders alike.

    Connect with Christopher:
    chris.halvorson@magellanscientific.com
    About SherWare, Inc.
    If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.
    SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
    Click here to watch a demo of the software in action right now.
    About COPAS:
    COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.
    Find a society near you.
    www.copas.org

    • 47 min

Customer Reviews

4.8 out of 5
11 Ratings

11 Ratings

Suemcneel ,

President & Founder

The Oil & Gas Accounting Podcasts address an area of E&P that is often overlooked. Taxation is especially important in the upstream segment.

SevWhiz ,

Severance Tax Pod Cast

I’m a 30 yr plus Severance Tax professional. Sarah did a great job explaining the opportunities to manage the company’s severance expense. The moderator was well prepared with follow up questions that were right on point. I will be recommending this to industry colleagues.

TiogarFarm ,

Great technical podcast!

The oil and gas accounting industry has been missing a great regular source of updated information in this type of format. Glad to see this come out of the pandemic.

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