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: 9
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: 23
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
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: 95
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: 93
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: 18
Many NOCs seeking improvement in their contractual terms. Increased level of direct participation/control. Better fiscal terms. Triggered demand for services and equipment, ... MDPI OIL AND GAS TRAINING. HEADING??? Relatively regressive systems Relatively progressive systems (Ex: High royalties ...
Date added: January 23, 2013 - Views: 14
... 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: 74
Kuntz OVERRIDING ROYALTY INTEREST ... nonpossessory interest in gross production from an oil and gas lease which attaches when the oil or gas is reduced to possession at the surface. ... must have a written agreement with the Third-Party setting forth the terms of the agreement.
Date added: October 7, 2012 - Views: 17
... 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: 47
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: 46
DELIVERING EFFECTIVE LECTURES/ CLASS ROOM MANAGEMENT IN A ...
Date added: October 5, 2014 - Views: 1
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
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: 24
... A document designed to show to whom payment is to be made for the sale of oil and or gas from a ... that provides price adjustment information for oil of various gravities. Terms Sweet Crude and Sour Crude apply. 3/22/2010. Price Schedule. ... An accounting entry can be distributed ...
Date added: September 8, 2014 - Views: 1
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: 21
... 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
... 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: 137
Interstate Common Carrier Transportation Of Oil By Pipeline Regulated Activities Under ICA Rates and charges Terms of service (rules and regulations) Form and content of tariffs Accounting (USOA) Reporting (Form 6 ... Contrast Oil Pipeline and Gas Pipeline Regulation Oil Pipeline History ...
Date added: September 18, 2013 - Views: 7
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: 21
... 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: 52
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
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
... 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
... 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
WELCOME TO BP SCOOP Session September 9, 2004
Date added: August 6, 2013 - Views: 4
Ranked #8 in the U.S. in terms of scholarly productivity by The Chronicle of Higher Education (2007) ... Oil & Gas accounting . Energy Certificates. Corporate Financial Managers. FINA 7A10 (Valuation) FINA 7A30 (Advanced Corporate Finance)
Date added: September 26, 2014 - Views: 1
... 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: 28
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
... 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: 32
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
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 Ohio Oil & Gas Association (OOGA) ... Defines rates, payment terms, services, and other obligations for both parties . ... Accounting . Logistics. Regulatory and . Policy updates. Teaming. Filling voids where businesses leave to service industry.
Date added: August 13, 2013 - Views: 15
... 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: 17
... 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
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: 42
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: 22
... 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: 24
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: 45
... 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: 19
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: 39
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
* Generation is predominantly Natural Gas, accounting for %48,6 and coal accounting ... in terms of energy sources ... 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1000 x TOE Hardcoal Lignite Oil Gas Hydro Other REN Nuclear Installed Capacity ...
Date added: December 7, 2011 - Views: 36
... “anticipate”, “intend”, “plan” and other similar terms and phrases. We caution you not to place undue reliance on these forward-looking statements, ... (4 oil, 1 gas) with upside/appraisal potential. Panoro’s oil discoveries in Ruche (2011) ...
Date added: September 29, 2014 - Views: 1
9TH AFRICA OIL & GAS, TRADE ... Positive points Reassuring arguments for lenders possibly afraid of adverse market evolution Logical mechanism in terms of financial communication Initial loan coverage ratio is improved ... accounting, tax or legal advice. This information is made ...
Date added: August 26, 2014 - Views: 1
... 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
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