Accounting services for the oil & gas industry

Specialist accounting, tax, and business advisory services tailored for businesses operating in the oil & gas industry.

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Value 1
Forward-Looking Advice
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Accounting and tax services for upstream, midstream, and field service businesses

Kelly+Partners Accountants provides specialized accounting, tax, and business advisory services to upstream, midstream, and field services businesses operating in the Permian Basin.

Navigating the complex tax landscape of the oil and gas industry can be both time-consuming and costly without the right expertise. Our team simplifies this process, guiding you through critical challenges such as drilling cost deductions, depletion calculations, Like-Kind exchanges, depreciation planning, and mergers and acquisitions support.

We ensure compliance with Texas-specific regulations and optimize financial operations for upstream, midstream, and field service businesses, allowing you to focus on driving your business forward.

Areas of expertise

Outsourced accounting

Our team scales your accounting function, allowing you to focus on your core business.
Outsourced accounting

Alternative minimum tax planning

Minimizing your AMT liabilities, ensuring optimal tax efficiency and compliance.

Alternative minimum tax planning

Joint interest billing

Ensuring accurate cost allocation, transparent partner billing, and compliant records.
Joint interest billing

Deduction of drilling costs

Accurately deducting drilling costs to maximize tax benefits and ensure compliance.
Deduction of drilling costs

Revenue distribution

Accurately distributing revenue to stakeholders, maintaining compliant records.  
Revenue distribution

Like-kind exchanges

Facilitating 1031 exchanges to defer capital gains taxes when exchanging oil and gas properties.
Like-kind exchanges

Depreciation planning

Strategies for depreciating assets such as equipment, infrastructure, and wells to optimize tax benefits.
Depreciation planning

Regulatory compliance

Guidance on adhering to Texas-specific regulations enforced by the Texas Railroad Commission and other relevant bodies.
Regulatory compliance

Book a discovery session


Book a discovery session today to discuss your accounting needs.

Get Started

Speak to one of our oil & gas specialists.

Book a call

Find your nearest office

Email our team, give us a call, or visit one of our award-winning office locations.

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Take control of your financial universe

Achieve your personal and business goals by turning to Kelly+Partners Accountants today.

Contact Us (888) 962-3883
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