EEPB, P.C. offers a wide array of detailed services for the Oil & Gas industry. In fact, EEPB's wholly-owned subsidiary, Enersource LLC, serves as the back office for many oil & gas exploration and production companies.

Cash Management/Budgeting

• Booking all deposits from deposit copies provided by client
• Writing/booking checks
• Reconciling bank accounts
• Managing cash flow
• Budgeting

Accounts Payable

• Entering all invoices into EEPB's oil & gas processing system
• Allocating charges to the appropriate leases and wells
• Paying invoices
• Preparing checks for delay rentals, lease bonuses, ROW payments, etc.

Joint Interest Billing

• Create Joint Interest Billings for all working interest owners utilizing the information obtained through the Accounts Payable module
• Develop AFE (authorization for expenditure) maintenance/reports
• Prepare and issue AFE based on client estimates
• Create AFE reports showing actual AFE costs compared to the budgeted costs provided by the client

Revenue Disbursal

• Record all purchaser production checks
• Issue all revenue disbursement checks to the royalty and working interest owners

DOI Maintenance

• Update the division of interest files for all owner changes provided by the client
• Maintain payout schedules for penalties on non-participation in AFE's and adjust DOI's accordingly

Lease Operating Statements

• Create lease operating statements showing the net income of each well (or any combination of wells) by month for the previous twelve months

Severance Tax Reporting

• Responsible for filing all state severance tax reports for the client's operated leases

Bank Loan Covenant Compliance Reporting

• Prepare analysis to ensure compliance with loan covenants

Partnership Distributions and Reporting

• Prepare monthly (or quarterly, etc.) partnership distribution reports and other reports as needed in addition to making partnership distributions

1099 Reporting

• Issue all client 1099's for vendors and owners as well as any 1099's for delay rentals and lease bonuses

Financial statement preparation

• Prepare GAAP or other basis of accounting financial statements on an annual, bi-annual, quarterly or monthly basis (this includes Compilations and Reviews)

Federal and state income tax returns

• Prepare all federal and state income/franchise tax returns

Audit

• Ensure client's financial statement auditors have access to EEPB's offices to perform year-end financial statement audit
• Work with client's financial statement auditors to provide assistance needed to perform the year end audit

Download detailed information on the Oil & Gas services at EEPB.