16 Best Oil And Gas Accounting Software Reviewed In 2025
Best Oil and Gas Accounting Software Shortlist
Here’s my shortlist of the best oil and gas accounting software:
Our one-on-one guidance will help you find the perfect fit.
Using outdated oil and gas accounting software can be a significant challenge for any CFO. Legacy systems often lack the ability to handle complex revenue streams, joint interest billing, and regulatory compliance unique to the oil and gas industry. This leads to inefficiencies, inaccurate reporting, and wasted time spent on manual processes.
To stay on top of your operations and maintain financial control, you need software that’s built for the industry and equipped to handle its complexities. But with all the oil and gas accounting software available, how do you know which is right for you?
As a financial controller, I understand the importance of tools that provide accurate data, streamline workflows, and support compliance efforts. My experience has taught me what to look for in specialized accounting software and how to assess which tools deliver real value to your organization.
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To help you make an informed decision, I’ve tested and reviewed several oil and gas accounting software options. I evaluated these tools based on features like cost tracking, reporting capabilities, and integration potential, ensuring they meet the high standards of financial operations. This list includes the best solutions to help you upgrade your processes, improve accuracy, and stay ahead in the demanding oil and gas sector.
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Best Oil and Gas Accounting Software Summary
This comparison chart summarizes pricing details for my top oil and gas accounting software selections to help you find the best one for your budget and business needs.
| Tool | Best For | Trial Info | Price | ||
|---|---|---|---|---|---|
| 1 |  Vencru Vencru offers accounting tools for SMBs in oil and gas, including invoicing and reports. | Best for its user-friendly interface | Free plan available | From $5/user/month (billed annually) | Website |
| 2 |  Deltek Deltek is project management software for the energy, oil, and gas industries. | Best for project-based management | Free demo available | Pricing upon request | Website |
| 3 |  OGsys OGsys is accounting software for financial management in oil and gas operations. | Best for upstream operations | Free demo available | Pricing upon request | Website |
| 4 |  Sage Intaact Sage Intacct offers cloud accounting for energy firms with tailored finance tools. | Best for cloud-based accounting | Free trial available | Pricing upon request | Website |
| 5 |  Pivoten Pivoten simplifies financial management for small oil and gas businesses. | Best for small businesses | Free demo available | Pricing upon request | Website |
| 6 |  Ebassi Ebassi is accounting software tailored for financial management in oil and gas. | Best for comprehensive reporting | Free demo available | Pricing upon request | Website |
| 7 |  Pandell JV Pandell JV is accounting software for joint ventures in the oil and gas industry. | Best for joint venture accounting | Free demo available | Pricing upon request | Website |
| 8 |  Wezom Wezom offers tailored billing and accounting for the oil and gas industry. | Best for custom solutions | Free demo available | Pricing upon request | Website |
| 9 |  Petrofly Petrofly is accounting software for SMBs in oil and gas, managing finances and costs. | Best for cost efficiency | Free demo available | Pricing upon request | Website |
| 10 |  OpenInvoice OpenInvoice streamlines invoice management for oil and gas finance teams. | Best for invoice processing | Free demo available | Pricing upon request | Website |
How to Choose Oil and Gas Accounting Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
| Scalability | Ensure the software can grow with your business and handle increasing data volumes. |
| Integrations | Check if it connects with your existing systems. like ERPs or CRMs, for seamless data flow. |
| Customizability | Look for options to tailor the software to fit your specific processes and reporting needs. |
| Ease of Use | Consider the learning curve and whether your team can quickly adapt to the software. |
| Budget | Evaluate if the pricing fits within your budget without compromising essential features. |
| Security Safeguards | Ensure robust security measures are in place to protect sensitive financial data. |
| Compliance | Verify that the software complies with industry regulations and standards. |
| Vendor Support | Look for reliable customer support and resources to assist your team when needed. |
Best Oil and Gas Accounting Software Reviews
Below are my detailed summaries of the best oil and gas accounting software that made it onto my shortlist. My reviews offer an in-depth look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Vencru is an accounting software tailored for oil and gas professionals. It serves small to medium-sized businesses, providing essential functions like invoicing, expense tracking, and financial reporting.
Why I picked Vencru: Vencru is renowned for its user-friendly interface, designed to simplify financial management for business owners without requiring extensive accounting expertise. Users consistently praise its intuitive design, which streamlines tasks like invoicing, expense tracking, and inventory management, making it accessible and efficient for small to medium-sized businesses.
Standout features & integrations:
Features include real-time financial reporting, which allows you to monitor business performance at a glance. It also offers inventory management, helping you keep track of stock levels efficiently. Another feature is its customizable templates for invoices, ensuring your documents reflect your brand.
Integrations include QuickBooks, Xero, PayPal, Stripe, Square, Google Sheets, Zapier, Slack, Shopify, and WooCommerce.
Pros and cons
Pros:
- Intuitive invoicing tools
- Simplifies expense tracking
- Real-time financial insights
Cons:
- Basic reporting capabilities
- May need customization for complex needs
Deltek is a project-based management software designed for the energy, oil, and gas industries. It focuses on helping project managers and finance teams handle budgeting, scheduling, and resource management for complex projects.
Why I picked Deltek: Deltek specializes in project-based management, offering features that cater to the unique needs of large-scale projects. The software provides tools for project planning and execution, which help your team stay on track. It also includes resource management features that ensure optimal use of manpower and materials. These capabilities make Deltek an excellent choice for managing intricate projects in the energy sector.
Standout features & integrations:
Features include budgeting functionality, helping your team track project costs effectively. Additionally, Deltek includes resource allocation features that optimize the use of personnel and materials.
Integrations include Salesforce, NetSuite, Microsoft Dynamics, QuickBooks, SAP, Workday, IBM Maximo, JD Edwards, Xero, and Kronos.
Pros and cons
Pros:
- Excellent project planning tools
- Effective resource management
- Suitable for large-scale projects
Cons:
- Steep learning curve
- Limited offline access
OGsys is a specialized accounting software designed for upstream oil and gas operations. It serves industry professionals by focusing on financial management, reporting, and compliance specific to exploration and production companies.
Why I picked OGsys: OGsys caters specifically to upstream operations, offering features like production accounting, land management, and financial reporting tailored to the oil and gas sector. This specialization makes it ideal for companies focused on exploration and production. Along with these features, you’ll also find tools for managing joint interest billing and revenue distribution, which are vital for upstream operations.
Standout features & integrations:
Features include real-time financial analysis and reporting, enabling companies to monitor their financial status at any time during the month. It also offers joint interest billing to manage costs shared among partners. Additionally, the software’s intuitive design streamlines complex accounting tasks, such as distributing expenses and revenue to various interest owners, improving efficiency and reducing reliance on spreadsheets.
Integrations include Microsoft Excel, SAP, QuickBooks, NetSuite, JD Edwards, Microsoft Dynamics GP, and IBM Maximo.
Pros and cons
Pros:
- Specialized for upstream operations
- Detailed audit trails
- Effective joint interest billing
Cons:
- Complex for non-specialists
- Limited customization options
Sage Intacct is a cloud-based accounting solution designed for the energy industry. It serves finance teams by delivering key functions like financial management, reporting, and compliance tailored to energy companies.
Why I picked Sage Intacct: Sage Intacct offers real-time access to financial data from any location with an internet connection, enhancing flexibility and operational efficiency for businesses. Overall, the software’s modular design allows for seamless scalability, enabling organizations to easily add functionalities as they grow. This helps to ensure that Sage Intacct can adapt to evolving business needs as they occur.
Standout features & integrations:
Features include automated revenue recognition, which helps manage complex revenue streams. It also offers project accounting, allowing you to track project costs and profitability. Additionally, Sage Intacct comes with built-in compliance management, ensuring you meet industry regulations.
Integrations include Salesforce, ADP, Bill.com, Avalara, Expensify, Stripe, Square, MineralTree, Nexonia, and Adaptive Insights.
Pros and cons
Pros:
- Real-time financial insights
- Effective multi-entity management
- Built-in compliance management
Cons:
- Not ideal for very small teams
- May need specialized training
Pivoten is an accounting management software designed specifically for small businesses in the oil and gas sector. It targets finance teams, providing essential tools for financial management, invoicing, and reporting.
Why I picked Pivoten: Pivoten is tailored for small businesses, offering features that simplify accounting processes. The software includes easy-to-use invoicing tools, which help your team manage billing efficiently. It also provides financial reporting that’s straightforward and accessible, even for non-experts. Together, these features make Pivoten an accessible tool for teams looking to scale, but who have less hands-on experience or time availability.
Standout features & integrations:
Features include intuitive invoicing that allows you to create and send invoices quickly. It also has automatic reconciliation, which saves time by matching transactions automatically. Additionally, the software offers budget tracking to help your team keep an eye on financial health.
Integrations include QuickBooks, Xero, Microsoft Excel, Salesforce, Square, Stripe, PayPal, Zapier, Google Sheets, and Dropbox.
Pros and cons
Pros:
- Simplifies billing processes
- Easy-to-navigate interface
- Quick setup and implementation
Cons:
- Basic reporting capabilities
- Few customization options
Ebassi is a specialized accounting software solution for the oil and gas industry. It caters to finance teams by offering tools for financial management, reporting, and compliance specific to this sector.
Why I picked Ebassi: Ebassi’s focus on advanced reporting allows your team to access detailed financial insights. It provides detailed analytics that help you track financial performance across different segments of your business, and also includes customizable reporting options that let you tailor reports to your specific needs. Together, these features allow you to make informed business decisions with confidence and ease.
Standout features & integrations:
Features include multi-currency transactions, making it suitable for global operations. The software also provides an advanced suite of tools for managing exploration, production, and regulatory compliance, enabling companies to monitor field activities, track drilling and production metrics, and manage project budgets effectively.
Integrations include SAP, Microsoft Dynamics, QuickBooks, NetSuite, Xero, JD Edwards, IBM Maximo, Salesforce, and Workday.
Pros and cons
Pros:
- Detailed financial insights
- Customizable reporting options
- Supports multi-currency transactions
Cons:
- Requires financial expertise
- May need extensive training
Pandell JV is a joint venture accounting software tailored for the oil and gas industry. It serves finance teams by managing joint venture operations, cost tracking, and financial reporting specific to shared projects.
Why I picked Pandell JV: Pandell JV is specifically designed for joint venture accounting, offering tools that simplify managing shared projects. It includes features like automated cost allocation and partner billing, which help your team handle joint venture finances efficiently. The software also provides detailed reporting capabilities that offer insights into financial performance across ventures.
Standout features & integrations:
Features include automated cost allocation to ensure accurate expense sharing among partners. It offers joint interest billing, allowing you to manage shared costs seamlessly. Additionally, Pandell JV provides customizable financial reports, helping your team gain insights into venture performance.
Integrations include SAP, NetSuite, QuickBooks, Microsoft Dynamics, JD Edwards, IBM Maximo, Sage, Xero, Workday, and Salesforce.
Pros and cons
Pros:
- Tailored for joint ventures
- Accurate cost allocation
- Detailed financial reporting
Cons:
- May require setup assistance
- Limited offline functionality
Wezom is a billing and accounting system tailored for the oil and gas industry. It serves businesses seeking customized solutions for their accounting and financial management needs.
Why I picked Wezom: Wezom offers custom solutions, allowing you to tailor the software to match your specific business processes. The software provides features like flexible billing configurations, which adapt to your unique pricing models. It also includes advanced reporting tools that support data-driven decision-making. Together, these customization options make Wezom suitable for companies with specialized requirements.
Standout features & integrations:
Features include flexible billing options that let you manage various pricing models. It also offers detailed financial reporting, providing insights into your business’s fiscal health. Additionally, Wezom supports multi-currency transactions, making it ideal for global operations.
Integrations include SAP, NetSuite, Microsoft Dynamics, QuickBooks, Xero, Sage, Salesforce, JD Edwards, IBM Maximo, and Workday.
Pros and cons
Pros:
- Customizable to fit unique needs
- Supports various pricing models
- Detailed financial reports
Cons:
- May require technical expertise
- Complex initial setup
Petrofly is an accounting software solution tailored for the oil and gas industry. It caters to small and medium-sized businesses, focusing on financial management, production tracking, and cost control.
Why I picked Petrofly: Petrofly enhances cost efficiency for oil and gas companies by automating workflows, reducing manual labor, and minimizing errors, leading to lower operational expenses. Additionally, Petrofly’s competitive pricing and scalability make it accessible for businesses of all sizes, offering a cost-effective solution for managing operations.
Standout features & integrations:
Features include production tracking that provides insights into operational efficiency. It also offers budget management tools, helping you keep costs in line with company goals. Additionally, Petrofly includes detailed financial reporting, which supports strategic planning and analysis.
Integrations include QuickBooks, Xero, Microsoft Excel, SAP, JD Edwards, Sage, Salesforce, Workday, and NetSuite.
Pros and cons
Pros:
- Cost-effective for small businesses
- Efficient production tracking
- Supports strategic planning
Cons:
- May need additional training
- Basic reporting capabilities
OpenInvoice is an invoice management system tailored for the oil and gas industry. It serves finance teams by streamlining invoice processing, approval workflows, and payment management.
Why I picked OpenInvoice: OpenInvoice excels in processing invoices efficiently, reducing manual entry and errors. The tool offers automated approval workflows to speed up the invoice lifecycle. It also provides advanced reporting to track and analyze invoice data, making it ideal for businesses looking to enhance their invoice processing capabilities.
Standout features & integrations:
Features include automated data capture that minimizes manual data entry. It also offers configurable workflows, allowing you to tailor approval processes to your needs. Additionally, OpenInvoice supports electronic payments, ensuring quick and secure transactions.
Integrations include SAP, Microsoft Dynamics, QuickBooks, JD Edwards, IBM Maximo, Coupa, Ariba, Salesforce, and Workday.
Pros and cons
Pros:
- Reduces manual data entry
- Speeds up invoice processing
- Configurable approval workflows
Cons:
- Setup may require assistance
- Limited for small businesses
Other Oil and Gas Accounting Software
Here are some additional oil and gas accounting software options that didn’t make it onto my shortlist, but are still worth checking out:
- Enverus
For business automation
- ADD Energy E360/E3
For energy management
- Netgain
For secure data management
- NetSuite Cloud Accounting
For cloud-based scalability
- Peloton Platform
For real-time data tracking
- IFS
For energy sector compliance
Oil and Gas Accounting Software Selection Criteria
When selecting the best oil and gas accounting software to include in this list, I considered common buyer needs and pain points like handling complex joint venture accounting and managing fluctuating commodity prices. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Manage financial reporting
- Handle joint venture accounting
- Track production costs
- Monitor revenue streams
- Ensure regulatory compliance for field operations
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Predictive analytics capabilities
- Advanced dashboard customization
- Integration with IoT devices
- Automated compliance checks
- Real-time collaboration tools
- Document management/production management
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Easy navigation
- Intuitive interface design
- Minimal learning curve
- Clear and concise instructions
- Efficient workflow processes
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Comprehensive webinars
- Access to ready-to-use templates
- Responsive chatbots for guidance
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 support availability
- Access to knowledgeable representatives
- Variety of support channels
- Prompt response times
- Comprehensive help documentation
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Pricing compared to features offered
- Flexibility of pricing plans
- No hidden fees
- Quality of features for the price
- Discounts for long-term commitments
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Consistency of positive feedback
- Commonly mentioned pain points
- User feedback on feature reliability
- Testimonials on ease of use
- Reports on customer support quality
Trends In Oil and Gas Accounting Software
In my research, I sourced countless product updates, press releases, and release logs from different oil and gas accounting software vendors. Here are some of the emerging trends I’m keeping an eye on:
- Blockchain Technology: This trend is gaining traction for its ability to enhance transparency and security in financial transactions. Vendors are now exploring blockchain to create immutable records, reducing the risk of fraud. It’s particularly relevant for joint venture accounting where trust and accuracy are paramount.
- AI-Driven Analytics: AI is transforming the way businesses analyze financial data, offering insights that were previously hard to obtain. Some vendors are incorporating AI to predict trends, optimize resource allocation, and identify anomalies in financial reports, making decision-making more data-driven.
- Cloud-Native Solutions: More companies are moving to cloud-native platforms, which offer scalability and accessibility from anywhere. This shift allows teams to collaborate in real-time and ensures that data is always up-to-date, enhancing operational efficiency.
- Sustainability Reporting: As the industry faces increasing pressure to demonstrate environmental responsibility, software vendors are adding features to track and report on sustainability metrics. This enables companies to align with regulatory requirements and public expectations more effectively.
- Enhanced Cybersecurity Measures: With the rise in cyber threats, vendors are prioritizing security features to protect sensitive financial information. This includes advanced encryption methods and multi-factor authentication, ensuring that user data remains safe from breaches.
What Is Oil and Gas Accounting Software?
Oil and gas accounting software is a specialized tool designed to manage financial operations in the oil and gas industry. Professionals like accountants, financial analysts, and operations managers use these tools to ensure accurate financial reporting, manage costs, and maintain compliance with industry regulations.
These tools often include key features like joint venture accounting, predictive analytics, and sustainability reporting to help users manage finances, optimize resources, and adhere to environmental standards. Overall, oil and gas software provides essential support for efficient financial management in a complex industry.
Features of Oil and Gas Accounting Software
When selecting oil and gas accounting software, keep an eye out for the following key features:
- Joint Venture Accounting: Manages shared financial responsibilities among partners, ensuring accurate back-office cost allocation, accounts payable, and billing.
- Predictive Analytics: Analyzes historical data to forecast trends and optimize resource allocation.
- Sustainability Reporting: Tracks and reports on environmental metrics to meet regulatory requirements and public expectations.
- Blockchain Technology: Enhances transparency and security in financial transactions with immutable records.
- Cloud-Native Platform: Provides scalability and accessibility, allowing real-time collaboration and up-to-date data management.
- Automated Compliance Checks: Ensures all financial activities adhere to industry regulations, reducing the risk of non-compliance.
- Multi-Currency Support: Facilitates transactions in various currencies, making it ideal for global operations.
- Flexible Billing Options: Adapts to different pricing models, allowing businesses to manage diverse revenue streams effectively.
- Real-Time Data Monitoring: Offers insights into operational performance, helping to quickly identify and address issues.
- Enhanced Cybersecurity Measures: Protects sensitive financial information with advanced encryption and authentication methods.
Benefits of Oil and Gas Accounting Software
Implementing oil and gas accounting software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved Financial Accuracy: Automated compliance checks, accounts receivables, general ledgers, and joint venture accounting reduce errors in financial reporting, making the cash flow process easier.
- Enhanced Decision-Making: Predictive analytics and real-time data monitoring provide insights that help you make informed business choices.
- Increased Efficiency: Cloud-native platforms and flexible billing options streamline operations and improve productivity.
- Better Compliance Management: Sustainability reporting and automated checks ensure adherence to industry regulations.
- Greater Security: Blockchain technology and enhanced cybersecurity measures protect sensitive financial data.
- Global Compatibility: Multi-currency support facilitates international transactions and operations.
- Resource Optimization: Features like asset management and maintenance planning help you use resources more effectively.
Costs and Pricing of Oil and Gas Accounting Software
Selecting oil and gas accounting software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in oil and gas accounting software solutions:
Plan Comparison Table for Oil and Gas Accounting Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic reporting, limited users, and community support. |
| Personal Plan | $10-$30/user/month | Single-user access, core accounting functions, and email support. |
| Business Plan | $40-$100/user/month | Multi-user capabilities, advanced analytics, and integration with other business tools. |
| Enterprise Plan | $100-$250/user/month | Unlimited users, customized solutions, dedicated account manager, and full compliance tracking features. |
Oil and Gas Accounting Software FAQs
Here are some answers to common questions about oil and gas accounting software:
What is the accounting method used in the oil and gas industry?
Oil and gas companies often use the Successful Efforts (SE) method for accounting. This method capitalizes costs based on the success of a well, meaning if hydrocarbons are produced, costs are capitalized. It provides transparency, which is crucial for accurate financial reporting.
What are the two methods for accounting for oil and gas exploration costs?
The two primary methods are Successful Efforts and Full Cost. Successful Efforts capitalizes costs only for successful wells, while Full Cost capitalizes all costs, spreading them across all wells. Choosing the right method affects how your team reports financials and manages expenses.
How does oil and gas accounting software handle joint ventures?
Many oil and gas accounting software solutions offer joint venture accounting features. These tools manage shared financial responsibilities by automating cost allocation and partner billing. This helps your team ensure accuracy and transparency in joint operations.
What role does predictive analytics play in oil and gas accounting?
Predictive analytics helps forecast trends and optimize resource allocation. By analyzing historical data, these tools offer insights that aid decision-making. This feature is valuable for planning and improving operational efficiency in your business.
Can oil and gas accounting software track sustainability metrics?
Yes, many modern solutions include features for tracking and reporting sustainability metrics. These tools help companies meet regulatory requirements and public expectations by monitoring environmental impact, aiding in compliance with sustainability standards.
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