The Oil & Gas Accounting Podcast
Play • 8 min

If you're a CPA, an accountant, a bookkeeper, an office manager, or if you're an oil and gas operator that's doing the accounting yourself, you are who our brand new podcast is for.

We’ve partnered with Tom Wierman, Executive Director of COPAS (The Council of Petroleum Accounting Society) to bring you the Oil & Gas Accounting Podcast.

We noticed that no one has the conversations that actually help oil and gas accounting professionals do their job better.

So we decided to change that and start to discuss the things and common issues and questions we know our clients and partners ask, and that you may be wondering yourself.

Here's what this podcast is about:

Phil Sherwood: Welcome to the initial episode of the Oil and Gas Accounting Podcast. I'm your host, Phil Sherwood, along with my co host, Tom Wierman. Hey Tom, how's it going today?

Tom Wierman: Great, Phil, how are you? It's good to hear from you.

Phil: It's good to hear from you. It's weird that we can't get together these days. Everything seems to be virtual. But that works really good when you're recording a podcast, right?

Tom: It does. It really does. You know, we have not really had this situation before. But I think we're adapting pretty well. It's been a few months now since we've had to go through this. And I think we've just like anything else, just make it work.

Phil: Yeah, I agree. So as we get started, one of the questions you may be asking is why a podcast on oil and gas accounting? Well, first and foremost, we want to bring valuable accounting information to the folks who deal with oil and gas accounting on a daily basis. 

If you're a CPA, an accountant, bookkeeper, an office manager, or if you're an oil and gas operator that's doing the accounting yourself, you are who this podcast is for. There's so much happening in the world today, especially in oil and gas, that affects the accounting function and we want to be a place that you can come to for relevant and timely information on the different accounting issues that you're facing. 

The second question you may have is Who are you guys? Who is Phil Sherwood and Tom Wierman? And that's another great question. Tom, why don't you tell us a little bit about yourself and your background?

Tom: Sure. So I'm the current COPAS Executive Director. I started my role in March of 2012. And I've been executive director since then. So my day to day responsibility is really the Member Association. Managing the organization for the Council of Petroleum Accountant Societies. And so before that, I actually worked in industry, I was at Koch Industries for 30 years. I ended my career there. I have probably done the majority of my time in EMP, exploration and production; I was the controller. 

I served other functions in that particular company as well. I ended my career in financial reporting for Flint Hills Resources. But, you know, 30 years is a long time to see a lot of different issues. And, you know, things are certainly complex. They got more complex every day as we went through this, but I think, you know, just just the opportunity for me to have experienced what some of the people who we hope will hear this podcast are going through, you know, I actually had an opportunity to do some of those things. My role has changed certainly now, where I'm at, but I think I even as the executive director of COPAS I can bring some perspective to this

Phil: Okay, and I'm Phil Sherwood, and I've been involved in oil and gas accounting for 28 years now. I started out consulting with small companies and helping them set up their accounting systems. And around the same time, I helped a couple of oil and gas operators set up their offices with personal computers and accounting software. And after trying to get their work done with

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