Jeffrey M. Glover
SUMMARY
Accounting and finance professional with over 20 years of hands-on executive, production and operating experience in the Oil & Gas industry is exploring new opportunities. Accomplished in strategic planning, budgeting, restructuring and acquisitions. Possesses proven training, motivating and team building skills. Well versed in various software packages.
EXPERIENCE
Controller, 2007-Present U.S. Energy Development Corp, Buffalo NY Responsible for the accounting and finance activities of a very active $200 million (marketing & production) Appalachian based driller/operator. With the companys rapid growth my attention is concentrated on financial statements, budgets and liquidity assurance. Production revenue, joint interest billings, AFEs and contractor invoicing are major areas of hands-on involvement.
Contributing member of the executive team developing marketing, acquisition and cost savings strategies. Implemented departmental financial statements increasing accuracy, timeliness and enhancing the reporting package. Ensured full compliance with GAAP and Sarbanes-Oxley requirements. Established approval authority and cost control procedures. Integrated JIB and AFEs with the general ledger. Scrutinized the development costs on over 850 prospects monthly. Liaison with joint venture partners, marketing and due diligence representatives. Instrumental in tax planning strategies. Instituted Purchase Order, Work Order and inventory systems. Created a reliable and trusted partnership with the operations, production and geology departments.
Controller, 2004-2007 Rock City Mechanical LLC, Nashville TN Supervised the accounting functions for a $50 million mechanical/plumbing contractor specializing in hospital and prison construction. Job costing, cash flow and financial statements was where my primary focus was concentrated.
Streamlined billing procedures improving monthly cash flows. Enhanced the Bid Proposal process. Employed procedures to standardize Project Manager reporting. Revised standards for overhead and burden costs. Negotiated liability and workers compensation premiums (self-insured).
Controller, 2000-2004 Community Steel Corp, Buffalo NY Brought on board to recommend and implement new procedures and controls for a financially troubled company. Foremost attention was paid to job costing and cash flow. Accomplished all goals and objectives for a successful turn-around.
Restructured an inefficient job costing system. Spearheaded inventory control policies. Removed departmental duplications to increase efficiencies. Monitored contract compliance. Developed compensation, bonus and benefit packages. Participated in Union contract negotiations.
Chief Financial Officer, 1989-2000 Discovery Well Services, et al, Youngstown OH Formed Discovery and several other affiliated companies after purchasing the assets of a distressed company; refinancing debt and reorganizing. Business operations included servicing most segments of the energy industry with pipeline, service rig, salvage and production companies.
Negotiated the purchase of two companies. Introduced comprehensive strategic planning programs to establish strategies for growth. Developed economic modeling for evaluating capital projects. Refined all phases of the Companies pricing structures to optimize its achievable potential. Evaluated and put in force cost-cutting procedures to reduce working capital requirements. Formed numerous industry alliances and joint ventures. Sponsored regulatory changes with the Public Utility Commission to open an untapped opportunity. Negotiated with vendors to extend payment terms. Operated a satellite supply store for an industry partner.
Loan Officer-Energy Division, 1987-1989 Huntington National Bank, Cleveland OH After a long established business relationship I joined the bank. Responsibilities included prospecting for potential loan customers, developing client relationships and analysis of production and cash flow records. Slumping oil prices convinced Management to phase out the Energy Division.
Worked on numerous mergers and acquisitions, including analysis of the projected integration and synergies. Designed financing packages for specific needs. Traveled up to 50% developing client relationships. Examined financial statements for credit worthiness. Monitored loan compliance.
Director-Budgeting & Cash Management, 1978-1989 Envirogas Inc, Buffalo NY Initially hired as a cost accountant for the once largest independent east of the Mississippi, I steadily advanced to the Director position. Ending responsibilities included preparation of consolidated financial statements, investment activities and overseeing the accounting department.
Performed Treasury functions, including setting up new accounts, daily cash reconciliations and authorizing wires. Prepared in-depth analysis of budget vs actual consolidated operating results. Performed external audits on partnerships and joint ventures. Searched, opened and equipped several field offices. Managed all short & long term investments. Negotiated supplier discount terms. Overseen multi-state payrolls. Supervised a staff of 23.
Bachelor of Science in Business - Accounting State University of New York, Buffalo NY
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