Oil and Gas Production Accountant
Oil and gas production accountants calculate and analyze production data, calculate revenue and royalties associated with properties owned by oil companies, and ensure reporting requirements are met.
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Avg. Salary $75,474.00
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Avg. Wage $38.15
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Minimum Education High school diploma
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Outlook below avg
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Employed 28,400
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In Demand Medium
Also Known As
Production Accountant, Property Accountant
NOC Codes
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)
Skills Shortage
Employers that Recruited in the Last 2 Years
14%
14%
Average Wage
Starting
Overall
Top
Average Wage
| Starting | $31.34 |
|---|---|
| Overall | $38.15 |
| Top | $46.86 |
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Certification Not Regulated
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Strength Required Lift up to 5 kg
Interest Codes
The Oil and Gas Production Accountant is part of the following larger National Occupational Classification (NOC).
Accountants
- METHODICAL
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Interest in administering accounting systems, examining financial accounts and records, preparing income tax returns from accounting records, and in maintaining internal control procedures
- INNOVATIVE
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Interest in co-ordinating information to develop cost finding and internal control procedures; and in analyzing financial statements and reports
- DIRECTIVE
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Interest in consulting with clients to provide financial, business and tax advice; may supervise articling students, other accountants and administrative technicians
Reading Interest Codes
A Quick Guide
The interest code helps you figure out if you’d like to work in a particular occupation.
It’s based on the Canadian Work Preference Inventory (CWPI), which measures 5 occupational interests: Directive, Innovative, Methodical, Objective and Social.
Each set of 3 interest codes is listed in order of importance.
A code in capital letters means it’s a strong fit for the occupation.
A code in all lowercase letters means the fit is weaker.
Duties
Updated Dec 16, 2016
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.
Working Conditions
Updated Dec 16, 2016
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.
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Strength Required Lift up to 5 kg
Skills & Abilities
Updated Dec 16, 2016
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.
Educational Requirements
Updated Dec 16, 2016
The minimum education requirement for oil and gas production accountants is a high school diploma. However, employers generally prefer to hire applicants who:
- have strong computer skills and experience using production accounting software
- are familiar with the oil and gas industry
- are enrolled in or have completed a CAPPA certificate program.
In conjunction with several post-secondary schools in Alberta, the Canadian Association of Petroleum Production Accounting (CAPPA) offers a 5-course certificate program. Courses are offered evenings and weekends on campus and also are available in an online self-paced format.
Related Education
The following schools offer programs or courses that are related to this occupation but are not required to enter the field.
Mount Royal University
Southern Alberta Institute of Technology
For a broad list of programs and courses that may be related to this occupation try searching using keywords.
Certification Requirements
Updated Dec 16, 2016
Certification is not required, as there is currently no legislation regulating this occupation.
Employment & Advancement
Updated Dec 16, 2016
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.
Wage & Salary
Updated Dec 16, 2016
Hourly Wage
For full-time and part-time employees
- Low
- High
- Average
- Median
Starting
Overall
Top
| Wages* | Low (5th percentile) | High (95th percentile) | Average | Median |
|---|---|---|---|---|
| Starting | $18.75 | $55.49 | $31.34 | $28.85 |
| Overall | $21.63 | $61.67 | $38.15 | $35.13 |
| Top | $25.00 | $80.00 | $46.86 | $41.74 |
Swipe left and right to view all data. Scroll left and right to view all data.
* All wage estimates are hourly except where otherwise indicated. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production) and other forms of compensation.
A: High Reliability
Data Reliability Code Definition
High Reliability, represents a CV of less than or equal to 6.00% and 30 survey observations and/or represents 50% or more of all estimated employment for the occupation.
Industry Information
| Oil & Gas Extraction | $98,191 |
|---|---|
| Wholesale Trade | $87,046 |
| Construction | $81,717 |
| Public Administration | $81,129 |
| ALL INDUSTRIES | $75,474 |
| Business, Building and Other Support Services | $75,330 |
| Educational Services | $75,258 |
| Agriculture | $74,601 |
| Manufacturing | $72,242 |
| Transportation and Warehousing | $71,310 |
| Other Services (Repair, Personal Services and Related) | $67,431 |
| Information, Culture, Recreation | $66,348 |
| Professional, Scientific & Technical Services | $65,411 |
| Retail Trade | $64,703 |
| Accommodation & Food Services | $63,980 |
| Finance, Insurance, Real Estate, Leasing | $63,601 |
| Health Care & Social Assistance | $61,963 |
Skills Shortage
Employers that Recruited in the Last 2 Years
27%
27%
Recruiting Employers that Experienced Hiring Difficulties
14%
14%
Employers with Unfilled Vacancies of over 4 Months
2%
2%
Vacancy Rate
N/A
Other Sources of Information
Updated Dec 16, 2016
Canadian Association of Petroleum Production Accounting (CAPPA) website: www.cappa.org
Petroleum Accountants Society of Canada (PASC) website: www.petroleumaccountants.com
For more information on career planning, education and jobs call the Alberta Supports Contact Centre toll-free at 1-877-644-9992 or 780-644-9992 in Edmonton, or visit an Alberta Supports Centre near you.
Updated Mar 19, 2016. The information contained in this profile is current as of the dates shown. Salary, employment outlook, and educational program information may change without notice. It is advised that you confirm this information before making any career decisions.
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