Property Accountant II

Fixed Asset & Lease Accountant – Oil & Gas

Experience: 2-5+ years

About the Role

O& G Company in Houston is seeking a skilled Fixed Asset & Lease Accountant. This role is critical in managing fixed asset accounting, lease accounting under ASC 842, and regulatory reporting for our oil and gas operations. The ideal candidate will have a strong understanding of fixed asset processes, lease accounting standards, and experience in the energy sector, including FERC reporting.

Fixed Asset Accountant Requirements:

• Maintain and manage the fixed asset ledger, ensuring proper capitalization, depreciation, and disposals in compliance with GAAP.
• Perform monthly asset reconciliations and prepare journal entries related to fixed assets and leases.
• Implement and maintain compliance with ASC 842 lease accounting standards, including recording lease liabilities and right-of-use assets.
• Analyze and review fixed asset additions, retirements, and transfers to ensure accuracy and compliance.
• Collaborate with operations and project teams to ensure proper capitalization of costs and adherence to company policies.
• Prepare FERC regulatory reports related to fixed assets and leases as required.
• Assist in annual audits by providing documentation and detailed reconciliations for fixed assets and leases.
• Support budgeting and forecasting processes by providing fixed asset and lease-related data.
• Develop and document processes and controls to ensure compliance with SOX and regulatory requirements.
• Identify and implement process improvements to enhance efficiency and accuracy.

Fixed Assest Accountant Requirements:

• Education: Bachelor’s degree in Accounting, Finance, or a related field.
• Experience: 2-5+ years of experience in fixed asset and lease accounting, preferably in the oil & gas industry.
• Strong knowledge of GAAP, including ASC 842, and fixed asset accounting principles.
• Experience with FERC reporting and understanding of regulatory requirements.
• Proficiency in ERP systems (e.g., SAP, Oracle, or similar).
• Advanced Excel skills (pivot tables, VLOOKUP, etc.).
• Strong analytical and organizational skills, with excellent attention to detail.
• Ability to work effectively in a fast-paced, deadline-driven environment.