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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: 7

Revenue Accounting IssuesFor Royalty Owners - NARO - Home

Accounting TermsOil. BBL Barrel – 42 US Gallons. BS&W Basic Sediment and Water, an analysis of contaminants in oil. ... Strategies for Royalty Owners. Request copies of any Gas Processing Agreements and Plant Statements for some sample months.


Date added: September 1, 2013 - Views: 13

PowerPoint Presentation

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: 81

Results from the Norwegian Environmental and Economic ...

Oil and Gas Paper by: Kristine Erlandsen Division for ... the “reserves” classification of NPD now fits the Eurostat definition used when reporting oil and gas estimates in physical terms. ... The total value of the Norwegian oil/NGL and gas resources in 2001 is calculated to be 3.163 ...


Date added: August 2, 2013 - Views: 5

PowerPoint Outline - Ryder Scott

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: 75

What is a Concessionary Agreement?

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: 11

Audit and Compliance Standards - Office of Natural Resources ...

... Organization Audit & Compliance Partnerships Personnel Strategies & Risk Approach Audit & Review Sequence & Types Oil & Gas Reporting Issues Unbundling Allowances ... Audits Special Terms has a specified ... 4410 for dual accounting Form MMS-4411 for safety net ...


Date added: June 3, 2012 - Views: 69

Pooling and Unitization - Texas Attorneys - Coghlan Crowson, LLP

... but both states have far different laws regarding the rights of oil and gas operators than does Texas. ... lessee or prevent the drilling although they can demand an accounting for their share of the net ... on the profitability of the well in question and the terms of the lease ...


Date added: September 3, 2011 - Views: 46

PowerPoint Presentation

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: 13

Legal Issues in Oil & Gas - Judicial Training Institute

SOME Issues in Ghana Oil & Gas law. KOJO BENTSI-ENCHILL, Snr. Partner, ... Tendency to ignore the terms of the petroleum agreements of yester-year with their stabilization ... Ghana Gas’s vision is to be a fully integrated gas business company with a strong reputation as a trusted partner and ...


Date added: December 1, 2013 - Views: 11

Overview of the Office of Natural Resources Revenue

National Oil & Gas Royalty Conference. October 17 , 2012. Document type. Date. ... regulations and lease terms and pay every dollar due. States, ... The PeopleSoft accounting system was one of the first in DOI to satisfy OMB and Federal Managers Financial Integrity Act financial system requirements


Date added: February 11, 2013 - Views: 21

Hydrocarbon Monitor David E Evans Evans Consulting Company

... 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

Chapter 1: Financial Accounting and Standards - Wiley: Home

... in a systematic and rational manner to periods expected to benefit from use of assets The terms amortization ... allocation Special methods Selecting a method Special issues Depletion Establishing a base Depletion of resource cost Oil and gas accounting Special problems Impairments ...


Date added: July 28, 2013 - Views: 13

PowerPoint Presentation

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

ASPE vs. IFRS : THE BASICS - Toronto, ON CA / Adams & Miles ...

- is applying a new accounting policy to transactions, ... Oil & Gas Companies. Joint Ventures. Consolidations. Earnings Per Share. ... 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 expected life of ...


Date added: December 12, 2011 - Views: 122

Title of CLE - Association of Corporate Counsel

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: 37

Hydrocarbon & Governance Challenges in Indonesia

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: 18

Intermediate Accounting,Eighth Canadian Edition - Wiley: Home

... (e.g. mining, oil, gas) ... model Fair value model Costs incurred after acquisition Measurement of Cost Cash discounts Deferred payment terms Lump sum purchase Non-monetary exchanges Contributed ... or supplying of goods and services IFRS allows for special accounting subsequent ...


Date added: November 2, 2011 - Views: 17

The History of Pipeline Regulation - Federal Energy ...

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

Info Session Presentation - Indiana University

WELCOME TO BP SCOOP Session September 9, 2004


Date added: August 6, 2013 - Views: 4

Orcadia Presentation - IPAA

... 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: 20

The Dutch energy accounts - United Nations Statistics Division

The Dutch energy accounts Sjoerd Schenau Statistics Netherlands Content Why energy accounting ? Short history and organisation Main components Dutch energy accounts: 1) energy flow accounts 2) asset accounts for oil and gas Other environmental accounts related to energy Main users Conclusions ...


Date added: November 19, 2011 - Views: 19

Canadian Natural Gas Exports to the U.S. - Economics Society ...

Fiscal Challenges of the Canadian Oil and Gas Industry Economics Society of ... Canada is the largest provider of natural gas to the United States accounting for 94% of total U.S. natural gas imports ... This is a small increase in percentage terms but represents additional sales of x trillion ...


Date added: August 9, 2014 - Views: 1

Forensic Accounting Update Exam II Copyrighted 2002 D. Larry ...

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: 39

Exploration for and Evaluation of Mineral Resources: IFRS 6

... 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 ... defined in terms of the ... disclosure: Accounting policies for exploration and evaluation expenditures ...


Date added: September 29, 2012 - Views: 16

Industry Overview - Chamber of Commerce

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: 7

True oil mobility assessment - COPAS-Colorado

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: 9

Native American Issues - National Training Center

... s Lowest royalty rate is 16.66 % BIA often negotiates a better rate Some royalties are calculated using the dual accounting method Additional tribal ... Tribe is different in terms of ... Oil & Gas Indian oil and gas is similar to federal oil and gas from a ...


Date added: January 28, 2012 - Views: 44

CGD in India - pptfun

... GSPC Gas, Adani Energy Limited , BGL , AGL CGD Scenario in India CGD Operator Location CGD Operator Location Assam Gas Company Ltd ... issues including gas pricing, accounting d ... the period of exclusivity in terms of exemption from the purview of the contract ...


Date added: May 3, 2013 - Views: 12

Introduction to Oil & Gas Law and Mineral Title Examination

Property Rights in Oil & Gas. The terms of the grant, and the situation of the grantor at the time of the grant, will impact the basic rights of the life tenant and remainderman. Terms of the grant: ... The Oil & Gas Lease. The accounting period: ...


Date added: June 18, 2014 - Views: 3

PowerPoint Presentation

... 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: 15

Exploration for and Evaluation of Mineral Resources: IFRS 6

... 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

Electricity Investments 2000-2030 - University of Texas at Austin

... 2030 Oil & Gas Investment & Indexed Production Indicative Gas E&D Costs and Proven Reserves by Region, ... accounting for 60% of total energy investment. ... North America will require the biggest increase in distribution capacity in absolute terms.


Date added: September 15, 2013 - Views: 13

Financial Accounting - John Wiley & Sons

1 Describe the application of the cost principle to plant assets. 2 Explain the concept of depreciation ... or exchange. 7 Identify the basic accounting ... 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

Info Session Presentation - Indiana University-Bloomington

Real jobs; real opportunities ... October 2002 BP is an oil, gas, ... of $ 196.5 billion* Annual Revenues of $233 billion* Largest oil company and 2nd largest company in the world in terms of revenue(2004 Fortune Global 500) In ...


Date added: August 24, 2013 - Views: 10

Material Balance for Oil Reservoirs - UiS

... NOTE that the volume balance is written in terms of fluid at reservoir ... Bw = Water FVF(bbl/STB) Cw = Compressibility of water (psi-1) Rso = Solution Gas-Oil Ratio Reservoir properties Cf ... + N(Rsi-Rs)Bg (rb) Let us consider a material balance accounting for just ...


Date added: June 11, 2013 - Views: 15

Plant Assets - Midlands Technical College

... , and Equipment Disclosure of Property, Plant, and Equipment Oil and Gas Properties Property , Plant and Equipment: Acquisition and ... plant, and equipment. Explain the accounting for oil and gas properties. (appendix ... with a contract price of $100,000 on terms of ...


Date added: September 11, 2011 - Views: 32

Accounting - David D. Friedman

Gil also plows driveways in December and sends his clients bills for $ 600. C. Joe gets $200 of gas in December ... a change in loan terms, or … Refinance Accounting Snowplowing Animal rights League Subsidized Fuel How to use ... value falls faster as you sell oil Since you ...


Date added: November 21, 2011 - Views: 34

Title of Presentation (Arial, 28, Regular) - DADOA - Home

... Severance, Conservation Fee, Oil & Gas Resources Fund and Ad Valorem(based on property, equipment and reserves) Oklahoma ... The Tribal Severance tax requires a Dual Accounting method for processed gas, ... Settlement agreements, valuation agreements, and express lease terms supersede ...


Date added: May 6, 2013 - Views: 6

Energy Audit

The preliminary Energy Audit focuses on the major energy suppliers and demands accounting 70% of total energy.It is essentially a preliminary ... to alternative energy sources like gas and coal ... to popularise energy conservation.In the short terms these steps could include ...


Date added: June 16, 2013 - Views: 12

PowerPoint Presentation

What It Does Effectively ends the accounting profession’s ... cannot have practiced public accounting in five years Board members serve full-time five-year terms Funded by mandatory fees collected ... Sept 2003. “Sarbanes-Oxley: Auditing the Auditors?” Oil, Gas, and Energy Quarterly ...


Date added: October 27, 2013 - Views: 2

PowerPoint Presentation

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: 9

Slide 1

... CA Registry protocol CARB mandatory reporting TCR protocol Please convey interest to Tom Moore Scoping Meeting GHG Accounting Issues Oil & Gas Exploration & Production Natural Gas ... Indirects Mobile Stationary Process Fugitive What terms should be defined? Geographic boundaries ...


Date added: May 12, 2013 - Views: 4

Financial Accounting and Accounting Standards

The accounting for provisions under IFRS and estimated liabilities under GAAP are very similar. ... but are not limited to: decommissioning nuclear facilities; dismantling, restoring, and reclamation of oil and gas properties; certain closure ... The terms of any equity security issued or to be ...


Date added: June 15, 2012 - Views: 43

Financial Accounting and Accounting Standards

The terms of any new obligation ... Accounting Probability Accrue Footnote Ignore Probable Reasonably Possible Remote Loss ... but are not limited to: decommissioning nuclear facilities; dismantling, restoring, and reclamation of oil and gas properties; certain closure ...


Date added: January 5, 2013 - Views: 67


... LFN, 2004 Companies Income Tax Act, Cap C21 LFN 2004 The Petroleum Industry Bill 2010 Petroleum Accounting & Taxation in Nigeria, R U Uche ... industry Tax Reform in the Petroleum Industry National Oil & Gas Policy The ... 1 of any year as appropriate date Negotiated Terms ...


Date added: August 8, 2013 - Views: 8

Voluntary Purchasing Groups - Chamber of Commerce

Oil & Gas. Environmental. Manufacturing/Distribution. Healthcare. Non-Profits. Law Firms . Accounting Firms. Schauer Group, Inc. Schauer Domestic Business; International Placements; ... The Nation’s First ISO Registered Independent Insurance Agency; Certified since 1998.


Date added: June 6, 2013 - Views: 4


... State Accounting Bureau December 2013 ... Nor should Box 2 be used for oil or gas payments for a working interest, ... 1099 Reporting/Corrections Dec 2013 1099-MISC Consolidation Process All applicable payments combined to produce one 1099-MISC, ...


Date added: December 26, 2013 - Views: 18

PowerPoint Presentation

... National Auto Dealership Conference National Conference on Credit Unions National Real Estate Conference National Oil & Gas Conference ... including “hot topics” and new programs Find a glossary of accounting terms Look for Public Seminars in your ... AICPA Conferences Group ...


Date added: August 20, 2013 - Views: 12

PowerPoint Presentation

This presentation is not intended as legal, accounting, ... and Subsequent Events Some of the industries are: Airlines, Oil & Gas, and Real Estate Investment Trusts. ... Additionally, some terms have more than one definition; ...


Date added: November 1, 2013 - Views: 9