Introduction to Oil and Gas Accounting. Industry Terms and Concepts. Also we are going to assume that since this class is an introduction, no oil and gas exposure has taken place.
Date added: April 1, 2014 - Views: 8
Accounting Terms – Oil. BBL Barrel – 42 US Gallons. BS&W Basic Sediment and Water, an analysis of contaminants in oil. ... Accounting Terms - Gas. Netback Method. Deductions reduce stated value of gas, rather than being shown as a separate deduction.
Date added: September 1, 2013 - Views: 19
Oil & Gas Accounting Dr. Linda Nichols, CPA Texas Tech University ... c Linda Nichols * More Drilling Terms Perforating: use a perforating gun to make holes in casing and cement so oil and gas can flow into the well bore. Fracturing: in sandstone, ...
Date added: July 19, 2012 - Views: 91
Integrated Environmental and Economic Accounting (SEEA) ... As it is now, the “reserves” classification of NPD now fits the Eurostat definition used when reporting oil and gas estimates in physical terms. But, ...
Date added: August 2, 2013 - Views: 5
Oklahoma State University Oil & Gas Accounting Conference Nov. 16, 2007 Reserves Estimation in Accounting and Reporting presented by Don Roesle, Chairman and CEO
Date added: August 26, 2011 - Views: 79
Does not capture the spill over effects of oil and gas projects on the economy at large. G. Take = How much the HG takes/not how it takes. ... or as benchmark to determine the competitiveness of a country’s fiscal terms. MDPI OIL AND GAS TRAINING ...
Date added: January 23, 2013 - Views: 13
... EITI sets a global standard for transparency in oil, gas and mining ONRR’s Director leads the EITI global efforts IT Initiatives ONRR ... Issue and Special Terms Audits Special ... companies need to file Form MMS-4410 for dual accounting Form MMS-4411 for safety net prices Arm ...
Date added: June 3, 2012 - Views: 73
OIL & GAS UPDATE Breakfast Seminar ... of cumulative distributions as separate component of equity Trust Financial Reporting Issues Disclosure of terms of all classes of equity Accounting for options with decreasing exercise prices Update on accounting for exchangeable shares Draft changes to ...
Date added: May 19, 2013 - Views: 17
SOME Issues in Ghana Oil & Gas law. KOJO BENTSI-ENCHILL, Snr. Partner, ... accounting for 6% of revenue in 2011. ... Modification of PA terms may only be made in writing on agreement of the Parties. (Art. 26.3)
Date added: December 1, 2013 - Views: 16
... just as they can from an original co-tenant. Garcia v. Sun Oil Co., 300 S.W ... it is to a co-tenant’s benefit to ratify such a lease depends on the profitability of the well in question and the terms of ... C’s share of production remains at one-third. Accounting for Oil/Gas ...
Date added: September 3, 2011 - Views: 46
Energy and mineral asset accounts Background and outline for future work and terms of reference Alessandra Alfieri and Ole Gravgård
Date added: June 26, 2013 - Views: 3
Objectives of Revenue Accounting Session . Explain the difference between Production vs Revenue. ... Royalty Interest – A right to oil and gas or minerals in place that entitles the owner to a specified fraction (decimal interest) ...
Date added: September 8, 2014 - Views: 1
National Oil & Gas Royalty Conference. October 17 , 2012. Document type. Date. ... The PeopleSoft accounting system was one of the first in DOI to satisfy OMB and Federal Managers Financial Integrity Act financial system ... ONRR updated the Federal gas price up-front edit to “Fatal” on ...
Date added: February 11, 2013 - Views: 22
Oil & Gas Exploration & Production and Natural Gas Gathering & Processing Greenhouse Gas Accounting Protocol Development WESTAR Oil & Gas Workshop ... Prioritize sources in terms of their known or projected contributions to GHG emissions, ...
Date added: March 29, 2014 - Views: 2
... support and approval of the Commission Certain properties drilled prior to 1977 were classified as “non-utility” oil ... Public Service Commission Objectives of Parties Benefits from the Properties will be used to reduce or suppress natural gas rates for ... Terms used to refer to ...
Date added: November 21, 2012 - Views: 28
... regimes share one basic aim which is to establish a balance between the host country take and the contractor take The Oil/Gas company is named as CONTRACTOR ... If the host government adopts a measure subsequent to the conclusion of the petroleum contract in which the fiscal terms ...
Date added: May 2, 2013 - Views: 7
... Oil & Gas Companies. Joint Ventures. Consolidations. Earnings Per Share. ... Component accounting exists underboth ASPE and IFRS and even current ... If there are no terms that make reference to legal ownership passing or no BPO then the asset is amortized over the lease term instead of the ...
Date added: December 12, 2011 - Views: 133
Words of art and technical meaning often appear to be ordinary. LICENSOR v. LICENSEE ACCOUNTING TERMS OF ART IN RED Licensee shall purchase the ... who testified that the accounting provisions in the farm-out agreement had specialized usage and meaning within the oil and gas accounting field ...
Date added: September 19, 2011 - Views: 43
... in a systematic and rational manner to periods expected to benefit from use of assets The terms amortization and ... Group and Composite Amortization Methods The group method is applied ... of resource cost Oil and gas accounting Special problems Impairments ...
Date added: July 28, 2013 - Views: 15
... be debited to Accumulated Depreciation or simply added to asset’s carrying value * Rearrangement and Reinstallation Accounting ... oil, gas ) Development of new ... model Costs incurred after acquisition Measurement of Cost Cash discounts Deferred payment terms Lump sum purchase Non ...
Date added: November 2, 2011 - Views: 21
3rd QUARTER OIL & GAS UPDATE Breakfast Seminar October 5, 2004 © 2004 KPMG LLP, the Canadian member firm of KPMG International, a Swiss cooperative.
Date added: August 24, 2014 - Views: 1
The sheer size of the extractive industry economy often out shadows the size of the economy of sovereign countries * * Oil & Gas Legal Arrangements ... beyond the contract terms. Indonesia oil & gas applies ... Government accounting standard and budget transparency ...
Date added: May 2, 2013 - Views: 21
In terms of assets: BP ranks 76th in the world (Forbes) In ... BP oil gas chemicals refining market positions an opportunity and a responsibility ... and accounting Chicago Offices Accounting Career Fair on Friday Sept. 11th All Business Career Fair Wednesday Sept. 22nd ...
Date added: August 6, 2013 - Views: 4
Interstate Common Carrier Transportation Of Oil By Pipeline Regulated Activities Under ICA Rates and charges Terms of ... Contrast Oil Pipeline and Gas Pipeline Regulation OIL PIPELINES Common carriage Unregulated entry and exit Highly ... of tariffs Accounting (USOA) Reporting ...
Date added: September 18, 2013 - Views: 7
... FAS 69 Disclosures about oil and gas producing activities FAS 25 Amendment of FASB Statement No. 19 FAS 19 Financial accounting by oil and gas producing companies ... are defined in terms of the policy ... extractive activities in mining and oil and gas industries ...
Date added: September 29, 2012 - Views: 18
Upstream oil & gas. Refining & marketing. Power generation. ... many of which are focused on operations and have limited accounting capabilities. ... Every refinery is different in terms of what units it has and how big each unit is. Major groups: ...
Date added: May 24, 2014 - Views: 15
... UNEP Guidelines for Calculating Greenhouse Gas Emissions for Businesses ... Sometimes it is tempting to define a minimum emissions accounting ... has reduced or increased emissions in absolute (i.e. total) or relative (i.e. normalized. e.g. per unit of production) terms ...
Date added: June 4, 2012 - Views: 17
Source: Stephen Labaton and Jeff Gerth, “At Shell, New Accounting and Rosier Oil Outlook,” New York Times, March 12, 2004, pp. A ... Altering records and terms related to important ... when Sir Philip was in change of exploration and production. Oil/gas reserves were increased (not by ...
Date added: September 12, 2012 - Views: 43
To protect, promote, foster and advance the common interests of those engaged in all aspects of the oil and gas production industry. ... payment terms, services, ... Accounting . Logistics. Regulatory and . Policy updates.
Date added: August 13, 2013 - Views: 11
... Trust Responsibility Indian Oil & Gas Indian Self-Determination ... are calculated using the dual accounting method Additional tribal taxes are ... Oil & Gas Indian Oil & Gas Examples of Basic Trust Activities BLM does not Cooperative Inspection Agreements Indian Oil and ...
Date added: January 28, 2012 - Views: 49
... company Equity Bank Financing Debt Hybrids Reporting is more complicated and time consuming Public filings Legal and accounting scrutiny Transaction fees Regulatory ... existing, mature oil & gas provinces under ... Structure and Terms Key Management Considerations ...
Date added: August 2, 2013 - Views: 22
This presentation does not constitute an offer to provide finance on any terms. ... Oil & Gas industry teams placed in key commercial and financing hubs. ... accounting or taxation outcomes described or alluded to in this Discussion Paper are provided without any liability whatsoever to ...
Date added: February 28, 2014 - Views: 5
If the investments in the oil, gas and coal industries that are needed to supply fuel to ... with gas accounting for 42%. Investments in exploration and development are expected to follow ... North America will require the biggest increase in distribution capacity in absolute terms. But ...
Date added: September 15, 2013 - Views: 16
How IST Works Program Overview IST-Commercial Challenge Opportunities IST-Finance & Accounting Challenge Opportunities Why is IST Challenge Unique? ... October 2002 BP is an oil, gas, ... (2004 Fortune Global 500) In terms of social responsibility: BP is 3rd worldwide *(Data as of Dec 2003) ...
Date added: August 24, 2013 - Views: 12
In Upstream, KMG EP remains the main contributor in terms of oil production, accounting for 42% of total volumes in 1H2010. TCO accounted for 24% of total output, ... KMG EP extracts oil and gas from 46 fields located in western Kazakhstan, ...
Date added: November 24, 2011 - Views: 35
Improvements and Replacements Disposal of Property, Plant, and Equipment Disclosure of Property, Plant, and Equipment Oil and Gas ... plant, and equipment. Understand the disclosures of property, plant, and equipment. Explain the accounting for oil and gas ... Plant Assets Subject: Chapter 10 ...
Date added: September 11, 2011 - Views: 32
... NOTE that the volume balance is written in terms of fluid at ... (cu.ft/SCF) Bw = Water FVF(bbl/STB) Cw = Compressibility of water (psi-1) Rso = Solution Gas-Oil Ratio Reservoir properties ... + N(Rsi-Rs)Bg (rb) Let us consider a material balance accounting for just this ...
Date added: June 11, 2013 - Views: 15
... or exchange. 7 Identify the basic accounting issues ... = Depreciation Expense Under the units-of-activity method, service life is expressed in terms of ... 3,000 Natural resources consist of standing timber and underground deposits of oil, gas , and minerals. Natural resources ...
Date added: November 24, 2013 - Views: 5
... Objective and Scope IFRS 6 is limited to the accounting for and reporting of ... exploration and evaluation assets are defined in terms of the ... research project underway for approach to resolving issues unique to upstream extractive activities in mining and oil and gas ...
Date added: August 21, 2013 - Views: 2
... (69%) of China's total energy consumption in 2011. Oil was the second-largest source, accounting for 18% of the country's total ... The terms power and energy are ... New drilling and gas recovery technologies have greatly reduced the amount of area that has to be disturbed to ...
Date added: May 16, 2014 - Views: 13
Oil & Gas Industry: Customs Duties and ... Determine key factors and ambition levels on MNE’ transfer pricing control framework in terms of (i) People, (ii) Reporting Lines, (iii) Work Flows, ... Validation check on intercompany agreements and accounting manuals;
Date added: August 1, 2013 - Views: 68
... Commercial issues including gas pricing, accounting d) Safety of natural gas ... 20% Highness of the present value* of the number of PNG domestic connections during the period of exclusivity in terms of exemption from the purview of the contract carrier or common ...
Date added: May 3, 2013 - Views: 15
... Severance, Conservation Fee, Oil & Gas Resources Fund and Ad Valorem(based on property ... Settlement agreements, valuation agreements, and express lease terms supersede ... (ii) after processing, residue gas not sold arm’s-length. Dual Accounting determines the higher of: Residue gas and ...
Date added: May 6, 2013 - Views: 6
The preliminary Energy Audit focuses on the major energy suppliers and demands accounting 70% ... Sophisticated instrumentation including flow meter,flow gas ... like the power sector.India is now working on a comprehensive package to popularise energy conservation.In the short terms ...
Date added: June 16, 2013 - Views: 13
Some of the “Players” Part of the challenge of a successful oil/gas transaction is to understand ... law Company law Tax law Accounting rules and practices Environmental protection ... increased royalties Changing terms of licences/concessions Forced renegotiation What protection is ...
Date added: June 15, 2013 - Views: 3
Current Environment Access to Oil & Gas Reserves is a ... to the extent such items are in excess of >$249 million as well as all cumulative effect of accounting changes and ... We may use certain terms in this presentation such as “oil/gas resources,” “Syncrude,” “probable ...
Date added: June 3, 2013 - Views: 11
The accounting for provisions under IFRS and estimated liabilities under GAAP ... decommissioning nuclear facilities; dismantling, restoring, and reclamation of oil and gas properties; certain closure, reclamation, and removal costs of ... The terms of any new obligation incurred or to be ...
Date added: June 15, 2012 - Views: 51
Gil also plows driveways in December and sends his clients bills for $ 600. C. Joe gets $200 of gas in December ... oil first" So assets will ... Before making it See if you can negotiate a change in loan terms, or … Refinance Accounting Snowplowing Animal rights League Subsidized Fuel How ...
Date added: November 21, 2011 - Views: 38
... just reflect the new terms of restricted, ... Oil and gas To align oil & gas reserve estimation & disclosure requirements of Topic 932 with requirements in SEC’s final ... Arial AGH_Presentation_White WSU Accounting & Auditing Conference Agenda Auditing standards updates SAS 117 ...
Date added: October 3, 2011 - Views: 27
Structured Finance and Hedging for Oil&Gas Producers in Africa SG CIB Commodities Group 2 June 2005 ...
Date added: August 26, 2014 - Views: 1