Accounting in an Energy-Driven Economy
Accounting in Midland is different from accounting in most American cities. Many clients earn income from mineral interests, royalties, and working interests. Businesses must track joint interest billing, depletion, intangible drilling costs, and complex partnership structures. Cash flow can swing dramatically with commodity prices. Accounting firms that understand these realities are essential partners for local companies and families.
Beyond oil and gas, Midland accountants also serve healthcare practices, real estate investors, construction firms, restaurants, nonprofits, and a growing number of startups. The best firms combine technical accuracy with forward-looking advice that helps clients plan for both boom and bust cycles.
Our Selection Criteria
We evaluated firms on industry expertise, range of services, client reputation, local presence, and advisory capabilities. Each firm on this list brings a distinctive strength.
1. Johnson Miller and Co.
Johnson Miller and Co. is one of the most recognized accounting firms in West Texas, with offices in Midland and Odessa. It provides tax, audit, and advisory services with a strong focus on oil and gas clients. The firm is known for technical depth and long-standing community relationships.
2. Weaver
Weaver is one of the largest independent accounting firms in the Southwest and maintains a strong presence serving the Permian Basin. Its energy practice offers audit, tax, and risk advisory services for operators, midstream companies, and investors, along with specialized forensic and valuation services.
3. Forvis Mazars
Forvis Mazars brings national resources to Midland clients, including assurance, tax, and consulting. The firm is particularly strong for mid-sized and larger businesses needing sophisticated reporting, technology consulting, or transaction support.
4. Robinson, Burdette, Martin and Seright
Robinson, Burdette, Martin and Seright is a respected regional CPA firm with a long history in West Texas. It serves individuals, businesses, and nonprofits with tax planning, audits, and bookkeeping, emphasizing personal service and practical advice.
5. Eide Bailly
Eide Bailly offers a broad range of accounting and advisory services with dedicated industry teams. Midland clients benefit from its expertise in construction, healthcare, and nonprofit accounting, as well as technology and cybersecurity consulting.
6. Moss Adams
Moss Adams has a significant energy practice and works with oil and gas companies across Texas. Its services include audit, tax, internal controls, and transaction advisory work, making it a strong fit for growing operators preparing for acquisitions or capital raises.
7. Cano and Associates
Local boutique CPA practices like Cano and Associates provide personalized tax preparation and small business accounting. Many Midland entrepreneurs prefer this kind of firm for direct access to the partner and consistent, year-round support.
8. Grant Thornton Energy Practice
Grant Thornton serves larger energy companies through its Texas offices, offering audit, tax, and advisory services. The firm is often engaged for public company reporting, complex tax structures, and mergers involving Permian Basin assets.
9. Whitley Penn
Whitley Penn is a Texas-based firm known for strong energy, real estate, and private equity practices. Midland clients value its responsiveness and its ability to deliver high-level advice without the overhead of the largest national firms.
10. Midland Area Enrolled Agents and Tax Professionals
For individuals with straightforward returns or small royalty income, experienced enrolled agents and independent tax professionals offer affordable, reliable service. Many specialize in helping mineral owners understand their royalty statements and report income correctly.
Accounting Trends in Midland
Consolidation in the oil and gas industry has increased demand for transaction advisory services, purchase price allocations, and post-merger integration support. Technology adoption is accelerating, with cloud accounting platforms, automated joint interest billing, and data analytics becoming standard. Tax law changes continue to affect depletion, bonus depreciation, and entity structures, so proactive planning is more valuable than ever.
Families with mineral interests are also focusing on estate and succession planning, making accountants who coordinate closely with attorneys and financial advisors particularly valuable.
How to Choose an Accounting Firm
Match the firm to your complexity. A family with royalty income needs different expertise than a mid-sized operator preparing for an audit. Ask potential firms about their experience with clients like you, who will handle your work, how they communicate during the year, and how fees are structured. Look for firms that offer proactive planning rather than simply preparing returns after the fact.
Responsiveness matters, especially during tax season and around major business decisions. Choose a firm that commits to clear timelines and regular check-ins.
Questions to Ask Before Hiring an Accounting Firm
Ask whether the firm has experience with royalty income, joint interest billing, depletion, and other energy-specific tax issues if these apply to you. Clarify who will handle your work day to day and how quickly they respond during busy seasons. Request a clear fee structure, whether hourly, fixed, or retainer-based, and ask what technology the firm uses for secure document sharing and cloud bookkeeping. A strong firm will also offer proactive planning meetings rather than only preparing returns after the year ends.
Final Thoughts
Midland has a deep bench of accounting talent, from national firms with energy specialists to trusted local practices that have served families for generations. By choosing a firm that understands the Permian Basin economy, businesses and individuals can stay compliant, reduce tax burdens, and make smarter financial decisions.