This paper studies the value relevance of accounting measures in the international petroleum industry. In particular, they investigate how the value relevance is affected by accounting method choice and vertical integration.

International Oil Company Valuation: The Effect of Accounting Method and Vertical Integration. Misund, Bård; Osmundsen, Petter; and Sikveland, Marius, Spring 2015, pp. 1‑20.

This paper discusses how the newly adopted guidance may affect the oil and gas industry, specifically with respect to accounting for production imbalances. Under the new revenue standard, the guidance related to oil and gas upstream activities will have to be reevaluated.

Revenue Recognition and Control in the Oil and Gas Industry: The End of the Entitlements Method? Cornell, Robert M.; Fox, Lynley; and Wright, Charlotte, Spring 2015, pp. 21‑36.

Addresses the deductibility of post-production costs under the laws of two neighboring states—Texas and Oklahoma. These two states take different views of the issues that center around when the lessee's production activities cease.

The Deductibility of Post-Production Costs in Texas and Oklahoma. King, Jeffrey C. and Ammons, David, Spring 2015, pp. 37‑53.

The authors discuss what the fair market value of a trust's oil and gas assets is when there is indirect and fractional ownership as well as a lack of marketability. The authors outline the rationale of the California oil and gas valuation decision and provide some observations.

Valuation of a Fractional Oil and Gas Interest in a Trust. Crumbley, D. Larry and Cheng, Christine, Spring 2015, pp. 54‑62.

Empirically investigates the impact of major international events on large U.S. oil and gas companies and discusses the results from the events. The author compares the impact on oil and gas companies relative to the entire stock market and on the price of oil.

The Effect of Major International Events on the U.S. Oil and Gas Industry. Garner, Steve, Spring 2015, pp. 63‑83.