HOUSTON--(BUSINESS WIRE)--Jeff Labay, CPA, Senior Audit Manager at MaloneBailey, LLP, brings hands-on experience to his career as an auditor of SEC-reporting oil & gas companies. In his early twenties, Labay joined El Campo-based BL Oilfield Services and began a one year opportunity working on mobile rigs in the Brookshire, Texas area as a Floor Hand. Labay’s responsibilities included bringing pipe out of the well, operating the tongs and running rods.
After one year on the rig, Labay was encouraged by his father and wife to pursue an education and accounting was a natural fit. Labay received his BBA in Accounting from the University of Houston at Victoria as well as his MBA also from the University of Houston at Victoria. Labay attributes a strong interest in reserve reports, depletion and impairment, and theory of full cost vs. successful efforts to his decision to specialize in oil and gas.
“Working on the rigs gave me a unique perspective into the oil and gas industry. I know the business and operations of my clients better because of the first hand experience I have working on a rig. From my time on the rig, I learned the importance of having a strong work ethic – we typically worked 10-12 hour days – and it solidified my passion for working in the oil & gas field,” Labay explained.
In 2006, Labay joined MaloneBailey, a CPA firm based in Houston that specializes in audit services for SEC reporting companies, as an audit staff. Seven years later, Labay currently holds a Senior Audit Manager position. Labay’s focus is nearly exclusively dedicated to oil & gas companies with 95% of his clients who are upstream companies. Labay manages a team of auditors and often meets with the audit committees and boards of directors of the companies he audits to share the results of the audit and other financial reporting information.
MaloneBailey’s oil and gas practice comprises a little over 25% of its total client base. The firm provides SEC-regulated audit and private audit services to upstream, midstream and downstream companies. MaloneBailey’s client base includes drilling, exploration and production, refining and marketing, gas marketing and distribution companies. MaloneBailey’s oil and gas clients range from start-up exploration and development companies to operating production companies with over half a billion in properties.
About MaloneBailey, LLP
Based in Houston, Texas and with offices in New York, Beijing and Shenzhen, MaloneBailey is an international public accounting firm with deep knowledge and experience in the delivery of SEC audit services to small and mid-cap publicly traded clients with over 150 registrants as clients, including NYSE, AMEX and NASDAQ listed companies. For more information about MaloneBailey, visit www.malonebailey.com.