Oil and Gas Production Accountant

In Canada, the federal government groups and organizes occupations based on a National Occupational Classification (NOC) system. This alis occupation may not reflect the entire NOC group it is part of. Data for the NOC group can apply across multiple occupations.

The NOC system is updated every 5 years to reflect changes in the labour market. Government forms and labour market data may group and refer to an occupation differently, depending on the system used. Here is how this occupation has been classified over time:

• 2006 NOC: Accountants (1111.2) 
• 2006 NOC-S: Financial Auditors and Accountants (B011) 
• 2011 NOC: Financial auditors and accountants (1111) 
• 2016 NOC: Financial auditors and accountants (1111) 

Oil and gas production accountants keep track of the activity at well sites, pipelines and other facilities and prepare monthly reports for the province, owners and the Alberta Energy Regulator (AER).

In general, oil and gas production accountants:

• gather production data and confirm pipeline deliveries
• enter well tests, inventories and sales into a production accounting system
• gather, calculate and analyze volumetric data for wells, batteries, gathering systems and gas plants
• communicate volumetric activities and product splits to owners, producers, refineries and purchasers
• calculate and book revenues, royalties, tax credits and processing fees
• review purchaser statements and reconcile accounts receivable
• set up and update crowning incentives, royalty masters and trucking deductions.

Production accountants usually work in offices. Their hours of work vary depending on the organization and level of responsibility. Overtime often is required at month-end and year-end. Depending on the position, some travel may be required.

Oil and gas production accountants need the following characteristics:

• good math skills
• the ability to pay close attention to details
• good communication and interpersonal skills
• excellent analytical, time management and problem solving skills
• the ability to work alone and as part of a team
• high ethical standards.

They should enjoy having clear rules and organized methods to guide their activities, developing innovative solutions to problems and directing the activities of others.

Oil and gas production accountants generally are employed by oil and gas companies whose head offices are located in large urban centres.

Oil and gas production accountants are part of the larger 2011 National Occupational Classification 1111: Financial auditors and accountants. In Alberta, 79% of people employed in this classification work in the following industries:

• Professional, Scientific and Technical Services (PDF)
• Mining and Oil and Gas Extraction (PDF)
• Public Administration (PDF)
• Finance, Insurance, Real Estate and Leasing (PDF)
• Construction (PDF)
• Manufacturing (PDF)

The employment outlook in this occupation will be influenced by a wide variety of factors including:

• trends and events affecting overall employment (especially in the industries listed above)
• location in Alberta
• employment turnover (work opportunities generated by people leaving existing positions)
• occupational growth (work opportunities resulting from the creation of new positions that never existed before)
• size of the occupation.

In Alberta, the B011: Financial Auditors and Accountants occupational group is expected to have a below-average annual growth of 1.4% from 2016 to 2020. In addition to job openings created by employment turnover, 435 new positions are forecasted to be created within this occupational group each year.

Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.

Canadian Association of Petroleum Production Accounting (CAPPA) website: www.cappa.org

Petroleum Accountants Society of Canada (PASC) website: www.petroleumaccountants.com

Get information and referrals about career, education, and employment options from Alberta Supports.