Focuses on providing an overview of the accounting and legal issues common in the energy industry for those who are not accountants. Accounting topics include accounting for working and royalty interests, depletion, intangible drilling costs, and the financial implications of taxation issues. Taxation issues include state ad-valorem and severance taxes as well as federal taxation issues, such as tax credits. Legal topics include negligence, legal process, and contract law, including oil and gas common joint operating agreements and participation agreements.