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: 3
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: 77
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: 12
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: 74
Role of NNPC In Nigeria’s Crude Oil/Gas Production & Accounting. Production Quota Allocation & Fiscal Price determination . ... Clarifying inconsistencies and/ or conflicts in the application of fiscal terms for oil and gas and.
Date added: November 4, 2011 - Views: 59
... with those that already exist in that country, or as benchmark to determine the competitiveness of a country’s fiscal terms. MDPI OIL AND GAS TRAINING ...
Date added: January 23, 2013 - Views: 10
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: 11
... Property, Issue and Special Terms Audits Special Terms has a specified completion date ... companies need to file Form MMS-4410 for dual accounting Form MMS-4411 for safety net prices Arm’s-length gas transportation and processing contracts Non-arm’s ... oil/gas measurement ...
Date added: June 3, 2012 - Views: 64
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: 18
... but both states have far different laws regarding the rights of oil and gas operators than ... the lessee or prevent the drilling although they can demand an accounting for their share of the net ... depends on the profitability of the well in question and the terms of the lease ...
Date added: September 3, 2011 - Views: 44
Tendency to ignore the terms of the petroleum agreements of yester-year with their stabilization clauses ... accounting for 6% of revenue in 2011. ... <http://www.ghanabizmedia.com/ghanabizmedia/january-2012-oil-a-gas/476-border-row-casts-shadow-over-oil-find.html> Accessed October 9, ...
Date added: December 1, 2013 - Views: 8
Ohio Oil & Gas Energy Education Program. www.oogeep.org. Economic Impact Study. Released September 2011. ... payment terms, services, and other obligations for both parties . ... Accounting . Logistics. Regulatory and . Policy updates.
Date added: August 13, 2013 - Views: 5
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: 34
... “If an adjoining owner drills his own land and taps a deposit of oil or gas, ... If the host government adopts a measure subsequent to the conclusion of the petroleum contract in which the fiscal terms are stated, ...
Date added: May 2, 2013 - Views: 6
... beyond the contract terms. Indonesia oil & gas applies Production Sharing Contract (PSC) regime: Contractor is working on specific Working Area ... Transparency of government and corporate financial management and accounting of EI revenues, ...
Date added: May 2, 2013 - Views: 16
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: 3
Content Why energy accounting ? Short history and organisation Main ... on imports Energy dependence on imports for sectors Energy asset accounts Physical and monetary balances for oil and gas Opening stock, new discoveries ... They can be compiled in physical and/or monetary terms.
Date added: November 19, 2011 - Views: 16
An inventory of oil and gas reserves classified by risk level ... Prepared to provide valuations of a company's underlying oil and gas assets. External . Internal. Accounting audits. ... expressed in accounting terms. We start with the data (receipts, invoices, inventory records, ...
Date added: May 2, 2013 - Views: 5
- is applying a new accounting policy to transactions, ... Mining, Oil & Gas Companies. Joint Ventures. Consolidations. Earnings Per Share. ... Crash Course in IFRS - Terms. IFRS – International Financial Reporting Standards ...
Date added: December 12, 2011 - Views: 104
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: August 29, 2011 - Views: 21
... 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: 15
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: June 6, 2013 - Views: 8
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
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: 2
... Trust Responsibility Indian Oil & Gas ... etc. DOI ties trust responsibility to a “trust asset” To further complicate things the terms ... s Lowest royalty rate is 16.66 % BIA often negotiates a better rate Some royalties are calculated using the dual accounting ...
Date added: January 28, 2012 - Views: 41
Indirects Mobile Stationary Process Fugitive What terms should be defined? Geographic boundaries ... 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 ...
Date added: May 12, 2013 - Views: 4
... model Fair value model Costs incurred after acquisition Measurement of Cost Cash discounts Deferred payment terms Lump sum ... be debited to Accumulated Depreciation or simply added to asset’s carrying value * Rearrangement and Reinstallation Accounting ... oil, gas ) Development of new ...
Date added: November 2, 2011 - Views: 17
In terms of assets: BP ranks 76th in the world (Forbes) In terms of revenue: BP is ... October 2002 BP is an oil, gas, ... and accounting Chicago Offices Accounting Career Fair on Friday Sept. 11th All Business Career Fair Wednesday Sept. 22nd Campus Interviewing on Thursday Oct. 14th ...
Date added: August 6, 2013 - Views: 3
... Fuel Procurement and Sales Local Distribution of Electricity and Natural Gas Oil and Gas Services V&E’s ... Many tax and accounting ... Interpretation of Contracts Civil versus common law systems Commercial terms that don’t always mean what they should Problems of applicable law ...
Date added: September 2, 2011 - Views: 29
... gas is delivered at cost-of-service Wexpro owns oil wells with associated gas sold to ... Hydrocarbon Monitor (Evans Consulting) Accounting ... Agreement Designed to be Self-Governing Duties of Hydrocarbon Monitor Classification of New Wells and Recompletions Terms used to refer ...
Date added: November 21, 2012 - Views: 26
... gas compressors c) Commercial issues including gas pricing, accounting d) Safety of natural gas infrastructure ... 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 ...
Date added: May 3, 2013 - Views: 10
Provide an overview of terms and concepts relating to petroleum operations that will be discussed in the various accounting modules and how ExxonMobil is ... organic-rich shale that generates oil and/or gas ... The Corporate Accounting Services group provides global accounting ...
Date added: February 13, 2014 - Views: 10
WSU Accounting & Auditing Conference Significant Updates to the Profession: ... 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 rule, ...
Date added: October 3, 2011 - Views: 25
Current Environment Access to Oil & Gas Reserves is a Greater ... "EBITDA," that is not calculated in accordance with U.S. generally accepted accounting ... We may use certain terms in this presentation such as “oil/gas resources,” “Syncrude,” “probable resources ...
Date added: June 3, 2013 - Views: 7
Intermediate Accounting ... in a systematic and rational manner to periods expected to benefit from use of assets The terms ... allocation Special methods Selecting a method Special issues Depletion Establishing a base Depletion of resource cost Oil and gas accounting Special ...
Date added: July 28, 2013 - Views: 11
... 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: 5
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: 5
... Colorado Oil & Gas ... company Equity Bank Financing Debt Hybrids Reporting is more complicated and time consuming Public filings Legal and accounting scrutiny ... Capital Access Considerations Key Structuring Considerations Process is Key to Obtaining Best Structure and Terms Key ...
Date added: August 2, 2013 - Views: 13
Oil & Gas. Commercial Insurance; Employee Benefits. ... Accounting Firms. Schauer Group, Inc. Schauer Domestic Business; International Placements; ... Terms and Conditions. Indemnity Clause. Insurance Clause. Well Operator; Well Operator (Owner) Drilling Contractor.
Date added: June 6, 2013 - Views: 4
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
Altering records and terms related to important ... Source: Stephen Labaton and Jeff Gerth, “At Shell, New Accounting and Rosier Oil Outlook,” New York Times, March 12, 2004, pp. A ... when Sir Philip was in change of exploration and production. Oil/gas reserves were increased (not by ...
Date added: September 12, 2012 - Views: 38
... Emissions for Business and Non-Commercial Organisations. www.uneptie.org/energy/act/ef/GHGin/index.htm The Greenhouse Gas Protocol – A Corporate Accounting and ... Similarly, during oil ... i.e. normalized. e.g. per unit of production) terms Transparency (text from ...
Date added: June 4, 2012 - Views: 14
Oil & Gas value chain | Main Transfer Pricing Aspects (2) ... 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: 50
... legislation and negotiations in oil, gas ... deposits are on a staggering scale How has this affected petroleum fiscal terms? Established oil producing ... on mining terms The close attention paid to cost recovery under PSCs has led to the development of common petroleum accounting ...
Date added: July 31, 2012 - Views: 12
Each such unit shall be authorized on behalf and for the account of all the owners of the oil and gas rights within the unit area, without ... all upon such terms and conditions, as may be shown by the ... including a detailed accounting procedure governing all charges and credits ...
Date added: June 26, 2013 - Views: 1
The terms of any new obligation incurred or to be incurred. ... Premiums and Coupons Accounting: ... but are not limited to: decommissioning nuclear facilities; dismantling, restoring, and reclamation of oil and gas properties; certain closure, reclamation, and removal costs of mining ...
Date added: January 5, 2013 - Views: 61
... ? Can the Tax Treatment of condensate not Spiked? (if any) (Section 419 (1a) be agreed) ? * Application of Accounting ... The FIRS version and the NNPC version. In 2008, the Oil & Gas ... Opportunity to come to a common understanding and agreement that whatever TERMS ...
Date added: August 8, 2013 - Views: 6
* Jatar Committee Report Decision A comprehensive review of Crisis Management Team in terms of ... to study measurement and accounting practices ... PowerPoint Presentation Equity Oil & Gas Equity Oil & Gas Equity Oil & Gas PowerPoint Presentation Corporate Rejuvenation ...
Date added: May 3, 2013 - Views: 19