Welcome to Petroleum Accounting Consultants, PLLC

Since 2001 Petroleum Accounting Consultants has been providing accounting and tax services to oil and gas operators.  Our services range from obtaining severance and sales tax refund for oil and gas operator to revenue distribution and joint interest billings.

Oil and gas producers face a number of complex accounting and tax situations unique to their industry. Complexities in the various severance tax and sales tax laws make it increasingly difficult to stay abreast of and take advantage of the various tax incentives. We provide our severance tax review service on a contingency fee basis so there is no risk.  We have recovered over $40 million in severance tax and sales tax refunds for our clients’ since 2002.  Our firm prides itself in being able to obtain the largest tax refund possible for our client’s with very minimal time required from our clients.

Recent Tax Refund Filings

Petroleum Accounting Consultants has filed for over $13 million dollars in refund claims over the last 12 months. Contact us today at 405-759-2708 to learn more about how we can increase your firm’s bottom line by obtaining a tax refund. April 2014 — $814,562.94 March 2014 — $3,281,141.05 February 2014 — $1,094,902.75 January 2014 — […]

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"I found their staff to be very knowledgeable and professional. Because of their knowledge of the rules and requirements, they were able to tell me which wells would qualify for relief. Many wells were eligible that I did not think would be according to my interpretation of the requirements.

I was very pleased with the outcome and the amount of refunds that I received. I look forward to a continuing relationship with Petroleum Accounting Consultants and I highly recommend their services."

Lewis A. Hembree Production Company
Lewis A. Hembree

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Featured Service

Severance Taxes

An cost effective alternative to hiring your own accounting staff to complete your severance tax reporting requirements is to hire Petroleum Accounting Consultants, PLLC.

Our consultants can complete your severance tax returns and save you money on salary expense and payroll tax expense. More importantly our consultants are familiar with the various severance tax incentives offered by oil and gas producing states and can take advantage of them, which will save you money on your severance taxes.

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