This is being held on July 28th at the Oklahoma City Community College. The cost of the program is $299.
Because of the unique nature of oil and gas operations, accounting methods used by oil and gas exploration and production companies are different from the methods used in other industries. Individuals attending this two-day seminar will be introduced to the petroleum industry field activities of geological and geophysical exploration, leasing, and drilling activities, and accounting for those operational activities. The focus will be on generally accepted accounting principles for financial reporting purposes rather than accounting for federal income tax purposes.
What are the practices and laws of real and personal property and how do they affect us in the oil & gas business? Upstream oil and gas begins with obtaining the right to extract valuable minerals from the ground. Whether from the point of view of the royalty owner or the working interest owner, a thorough understanding of the rules, practices and laws is critical to the difference between making and losing money.
This two day seminar is a continuation of Petroleum Accounting I, delving into some of the more complex aspects of Petroleum Accounting.
Accounting for oil and gas revenue in today' s changing environment demands a thorough understanding of the many complex issues involving oil and gas production volumetrics, allocations, valuations and sales. Maximizing cash flow, while determining the correct handling of the revenue, is also essential to every company. It is imperative that your revenue personnel understand the many different facets of oil and gas revenues and their accounting and disbursement to industry partners, royalty owners and working interest owners. This seminar will focus on these essentials.
The focus of this course is to introduce participants to the income taxation of the upstream segment (i.e., exploration and production) of the oil and gas industry.
This program provides accountants, auditors and regulators with a refresher or primer to the fundamentals of accounting for first sales processed gas. Learn about plant/lease settlement, wellhead allocations, relevant sales type contracts and physical plant schematics.
Accounting for oil and gas revenue in today' s changing environment demands a thorough understanding of the many complex issues involving oil and gas production volumetrics, allocations, valuations and sales. Maximizing cash flow, while determining the correct handling of the revenue, is also essential to every company. It is imperative that your revenue personnel understand the many different facets of oil and gas revenues and their accounting and disbursement to industry partners, royalty owners and working interest owners. This seminar will focus on these essentials.
Natural gas, long the forgotten product of the hydrocarbon industry, rose in price three times as fast as oil did in 2005. Exploration for gas is at an all time high and LNG terminal construction is underway as never before. It is critical that as an employee of an energy company one should be familiar with the principles, business procedure, industry practices and procedures of the natural gas industry, because if a company is not now involved in natural gas, it soon will be.
This course provides hands-on examples for calculating the disclosures required by Fas # 69 and SEC regulations. Alternative calculations are shown where there are multiple ways to make these calculations.
This program provides oil and gas accountants with the knowledge of how to apply the terms and provisions of the various operating agreements and accounting procedures used by industry today. Participants will gain an understanding of the impact of various COPAS Interpretations and Accounting Guidelines on questions of joint account chargeability. The roles and obligations of the operator and non-operator in billings are examined in detail. Additional focus will be on form and content of typical joint Interest billings (JIB's) and accounting procedures that dictate billing practices.
This program focuses on the processes of Gathering, Transportation, Storage and Trading.
