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Oil & Gas

Your success is at the core of what we do

Improvements in technology and extraction present opportunities for oil and gas companies, but declines in oil and natural gas prices have significantly strained budgets and decision-making. Balancing cost-effectiveness with potential avenues for growth takes a dynamic strategy.

That’s where CBIZ and MHM* come in. Our experienced team of professionals understands your environment, from the fluctuations in prices to changing regulations and emerging technology. With help from our team, you can optimize your position in the marketplace and develop strategies to retain as much of your company’s capital as possible, whether by taking advantage of federal and state tax credits and incentives or monitoring financial performance indicators.

Solutions for Oil & Gas

  • Accounting Methods: Understand the complexities of successful efforts or full-cost accounting methods with our expertise.
  • Audit*: Benefit from our unique audit methodology, which takes into consideration the economic, regulatory, accounting, and auditing changes that affect the oil and gas industry and ensures those changes will be appropriately addressed.
  • Performance Management & Improvement: Explore solutions for business transformation efforts, including financial close processes, budgeting and strategic planning, business process optimizations, EBITDA enhancement, ERP technology, talent, forecasting, and performance reporting.
  • Tax Planning & Compliance: Navigate issues such as research and development tax credits, tax treatments related to intangible drilling costs, tangible property regulations, transfer pricing, and international tax minimization with assistance from our tax team.

CBIZ and MHM's 2023 study, Benchmarking Your SOC Compliance Framework, serves as such a resource, helping service providers improve their SOC reports for better efficiency and customer satisfaction. This study analyzed over 150 SOC 1 and SOC 2 reports from various industries and company sizes, with key findings shared over the past few months.

Speaking at a Dec. 5 event titled “Navigating the EconomicLandscape: Insights and Projections” at the CBIZ office in Kansas City, Mo, Rathbunexplored the complexities of the current economic environment, addressingcritical questions about the likelihood of a recession, the reality of a true softlanding and the plausible scenarios that could play out in the year ahead.

We are writing to apprise you of new and very important information reporting requirements that may impact you beginning Jan. 1, 2024. The purpose of this communication is also to inform you about our limitations in assisting you with meeting these requirements.

Gregory Braun

Managing Director

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    *CBIZ is a business consulting, tax and financial services provider and works closely with MHM (Mayer Hoffman McCann P.C.), an independent CPA firm providing audit, review and attest services. CBIZ and MHM are members of Kreston Global, an international network of independent accounting firms.