Oil & Gas Revenue Production Accountant
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About The Position
The Commissioners of the Land Office (Land Office or CLO) is an Oklahoma State Agency created by the original Oklahoma Constitution. The Land Office administers the school land trust funds to produce income for the support and maintenance of the common schools and certain public schools of higher education. The Land Office oversees the funds and proceeds derived from the sale, rental, disposal and management of school lands and other public lands under the rules and regulations prescribed by the Oklahoma legislature. The Royalty Compliance Division (RC) of the Land Office is responsible for ensuring that the CLO is properly paid all royalties and other amounts due under its oil and gas lease contracts. It also performs other financial audits and analysis as requested by CLO Leadership. The CLO has over 4,000 oil and gas leases with over 30,000 lessees and over 300 different operators/payors. Annual revenues from oil and gas royalties averaged nearly $56 Million per year over the last three fiscal years. This position is assigned to assist in ensuring compliance that royalties due to the CLO are paid completely, accurately, and timely in accordance with the Oklahoma Production Revenue Standards Act, the CLO's Mineral Lease Contract, Title 385 of the Oklahoma Administrative Code, and all other applicable rules and regulations. This position will do that by providing accounting audit analysis to royalty payments using data provided by operators/payors as well as data available from other state agencies and other sources as appropriate. Accounting audit analysis will be conducted using various software programs including Excel, IDEA, Power BI, and internally developed software and tools. Accounting audits will include assisting with existing periodic reports to identify potential compliance issues as well as working with internal and external stakeholders in correcting data submitted by operators and ensuring data accuracy as it is processed through the CLO. Duties may also include detailed financial audits as needed based on the findings of the periodic reports. This position will work very closely with other CLO functional areas in performing audits, including (but not limited to) the Financial Services Division and the Information Technology Division.
