Ken Schenck

Experienced Senior Staff Accountant - Oil & Gas: Acquisitions & Divestitures, Audit Responses, Contract Review, Conversions, Gas Balancing, JIB (Op, Non OP, Offshore), Payouts, Production, Reconcilements, and Revenue.

Greater Houston

About

Accomplished Accountant & Analyst in Gas Balancing, Joint Interest & Revenue Disciplines, with diversified experience in Oil & Gas Accounting resulting in a thorough understanding of interaction of accounting and operational functions, including: Learning new software. Training coworkers, Creating Templates with Altair Monarch and Alteryx - Time savings ranged from a few minutes per Revenue PPA to Days for Revenue Statements to 100's of hours for 1099 Reporting. Initiating cost savings and staying mindful of bottom line in support of corporate revenue objectives; acquired solid foundation in GAAP with full range of experience in audits, reconciliations, general ledger functions, month-end closing, and inventory cost accounting Leadership role in Revenue Accounting for gas balancing, encompassing Shipper Contracts, Revenue Agreements, Lease Operating Agreements (LOA); adept monitoring imbalances, reviewing balancing agreements, calculating Produced Beyond Reserves and negotiating cash and volume settlements Proven success in Joint Interest Billing (JIB) with Payout Expertise, including experience with Farm Outs, Non Consents, Production Payment Interests, and Net Profits Interests, AR, Reconcilements, Owner Masters, Tax Allocations; proficient with Audit Responses and Joint Audit Data Exchange (JADE) Advanced expertise with Acquisitions & Divestitures, including post closings, due diligence, accruals, journal entrees, allocations, reporting for Onshore and Offshore holdings; Oil & Gas Production experience covers CA, WY, NM, CO, UT, NE, KN from well head to Federal, State, and Indian reports Strong financial gas plant accountancy and accomplishments; highly skilled in conversions of gas plant volume and value calculations as segment of reduction project; lead and documented South Coles Levee Unit gas plant operations for system conversion; analyzed plant expenditures leading to a six-figure refund Technical skills: advanced Excel (Pivot Tables, V Lookup, Macros); proficient in Word, PowerPoint; Altair Monarch; Alteryx; O&G RELATED: EMK3, Enertia; Excalibur; JIBLink/EnergyLink, Enervest/Oildex, OGSYS, P2 ProCount, P2 Carte; GEN ACCOUNTING: PDS, Quick Books Non-Profit, TIPS

Experience

  • Gas Balancing Coordinator at Coterra Energy
    Apr 2022 - Present · 4 yrs 3 mos

    Gas Balancing. Now a subsidiary of Devon Energy.

  • Revenue Analyst Take In Kind at Contract at Nextera
    Aug 2021 - Apr 2022 · 9 mos

    Operated and Non Operated Texas and Oklahoma. Excalibur and SAP. Update models and templates. Examine and improve processes. Work with land and marketing. Engagement extended. Left to accept employment at Coterra to concentrate on Gas Balancing.

  • Senior Staff Accountant at Oasis Petroleum
    May 2019 - Mar 2021 · 1 yr 11 mos

    Appreciate having worked at Oasis (in Office and then remotely for a year). Caught by reduction in force March 2021. I was approving Revenue Batches and Accounting Decks, setting up new Deductions and Interest Types, Preparing PPA Comments and estimates, Reconciling Accounts, Calculating Lower of Cost or Market for Acquired Assets. Compiling COPAS materials for training. Software used at Oasis: Converted PDF POP Statements, Revenue Detail, JIB, and Utility statements using Altair Monarch. Improved productivity using Alteryx re PPA's and Divestitures. Oil and Gas: Enertia. Microsoft Office.

  • Contract Measurement Analyst at Gemini Midstream
    Apr 2019 - May 2019 · 2 mos

    I appreciate the contract opportunity Gemini Midstream provided me while waiting for my start date with my position in E&P revenue. Although my stay was brief, I gained insight in my role as a measurement analyst. I wish my (former) coworkers success in building out their system.

  • Senior Staff Revenue Accountant - Gas Balancing at Maverick Natural Resources, LLC
    Nov 2015 - Nov 2018 · 3 yrs 1 mo

    MAVERICK NATURAL RESOURCES, LLC, (formerly Breitburn Operating, LLP), HOUSTON, TX 2015 TO 2018 SENIOR STAFF REVENUE ACCOUNTANT Provided leadership and direction in performing Revenue Accounting functions for oil, gas and NGL operations in NM, OK, and TX using Enertia WPS and Cash Receipts. Assisted WI and RI owners in understanding Statements and Checks. Oversaw Gas Balancing Wells primarily in WY and maintained in EMK3, then set up in Enertia via Shipper Contracts, Statement Import, and PAD. Converted Reserves from SEC one lines to input into Enertia. Converted from Accrual Method to Sales Method and created spreadsheet to track Imbalance volumes and prices in conjunction with Enertia (Historical vs Sales Method). Provided Statements to Owners. Reconciled and investigated issues with Pipeline Imbalances. Additionally, reconciled AR deposits. Worked as contract Revenue Accountant through Robert Half Management Resources from 8/2014-10/2015 for Enertia Gas Balancing Implementation project, and was subsequently hired directly by Breitburn. KEY ACCOMPLISHMENTS: Spearheaded movement of gas balancing volumes from EMK3 marketing system and migrated to Enertia which tied all dollar volumes module to trial balance, resulting in technology upgrade that eliminated outdated information to reflect efficiency in records with current ownership.