Stitcher for Podcasts

Get the App Open App
Bummer! You're not a
Stitcher Premium subscriber yet.
Learn More
Start Free Trial
$4.99/Month after free trial
HELP

Show Info

Episode Info

Episode Info:

On today’s episode, we chat with Wade Cox, Senior Accountant for JMA Energy Company, L.L.C. (JMA). He discusses the in’s and out’s of working as an accountant in the oil and gas industry. You’ll find out what Wade does accounting wise for JMA, how he keeps track of their oil and gas interests and the issues that come up in his profession. He also discusses what he does outside of his work with JMA as a tax professional.

 

Here are some of the things you can look forward to in this episode:

 

  • What Wade does as a CPA in the oil and gas industry
  • Reports that simplify Wade’s career
  • Wade’s experience with using Well Profits to track their clients' interests
  • How Well Profits has helped eliminate human error

 

Highlights:

1:28 How Wade Got Started in the oil and gas industry

4:40 What Wade does accounting wise for JMA

6:10 How Wade keeps track of their oil and gas interests

7:51 The issues that come up when tracking non-operating interests

9:11 Revenue disbursement rules  

12:15 What reports make Wade’s job easier as a tax professional

15:05 The importance of being able to calculate the cost depletion

16:53 Wade’s experience with using the Well Profits software

19:02 How importing data has cut down on errors and saved time

21:20 What Wade does outside of JMA in accounting

 

About Wade:

I attended Southwestern Oklahoma State University and graduated in 1989 with a Bachelor in Science of Finance and a minor in Mathematics. Later, I attended the University of Central Oklahoma and obtained my CPA certificate in 1995. I have been working in the oil and gas business since 1996 for a company called JMA Energy Company, L.L.C. I started at an entry level position and worked in all areas of accounting in the oil & gas business (JIB, revenue, tax and financial accounting). I started my own oil & gas bookkeeping business in 2006. Some of my clients have up to 1,100 different well interests. I have been married for twenty years and I have a daughter that is nineteen and attending college. I like to read, watch movies and I love spending time with my two Golden Retrievers, Ethel and Hazel.

 

Connect with Wade:

LinkedIn

 

 

Head over to our website to set up a free account with SherWare software. Please make sure to subscribe and leave a rating and review on Apple podcasts.

Read more »

Discover more stories like this.

Like Stitcher On Facebook

EMBED

Episode Options

Listen Whenever

Similar Episodes

Related Episodes