SRL is a private oil and gas firm and is one of the few private firms that has been around for over 20 years. In joint venture, companies come together to fund and run the operations for extracting oil and gas products. As these ventures progress, we bill among each other depending on corresponding working interests as set by the JV agreements.
As a JV accountant I was basically a gatekeeper. I reviewed many incoming billings from our business partners. I verified that SRL paid only our portion of the agreement. I also corresponded billings descriptions with the work that was being done at the wells. And I became very familiar with the format and content of legal documentation that is set for joint ventures – trust me, it’s embarrassing when a vendor gets back to you just to tell you that you misread the agreement!
I also looked after Accounts Payable and Receivables, resolving disputes with partners and collecting what was rightfully ours! Doing A/P helped me improve my written and verbal communication (how else do you get people to pay you thousands of dollars?!).
After four months in Signalta, I trained the new JV accountant that would take over for me at the end of my work term. My experience as a manager in Vivint paid off here, as I helped our new team member embrace the world of Joint Venture accounting. To summarize my work with Signalta, these were some of my responsibilities:
- Review, analyse and process JIBS from JIBlink and manual entries
- Reduce inefficiencies in the joint billing and revenue processing system
- Working capital management
- Vendor clean-up and relations
- Review and analysis of various joint venture agreements
- Review, analysis and opinion on reporting and findings of joint venture audits
- Training, mentorship and development of the incoming intern
- Programs: AFE, AccuMap, CS Explorer, Excel, P2 Qbyte FM, ARAP, and other online sources