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COPAS provides the following information as a resource and convenience to the industry. Frequently asked questions related to these factors are addressed on the Questions & Answers page.
COPAS Overhead Adjustment Factors -(negative)3.2%, effective April 1, 2016
COPAS Accounting Procedures provide for an annual adjustment of the fixed rate overhead for drilling and producing wells. View the COPAS Overhead Adjustment Factors.
Employee Benefits Percentage – Upper Limitation +36%, effective January 1, 2016
Some accounting procedures provide that charges for employee benefits will be based on the operator's costs of providing the benefits, not to exceed the percentage most recently recommended by COPAS. COPAS uses a procedure to arrive at a new upper limit each year, based on data from the Bureau of Labor Statistics. Each fall, COPAS approves a new rate, which goes into effect January 1 of the following year. For more information on Employe Benefits, refer to COPAS MFI-27. View the Employee Benefits Limitation Percentages Chart for historical data.
Audit Per Diem Rate - $890, effective April 1, 2016
The audit per diem rate is intended for use by non-operators to establish benchmarks when sharing audit costs for audits conducted in the U.S. It is not intended for use in establishing rates paid to contract auditors or auditing firms. COPAS no longer publishes a per diem rate for audits conducted outside the U.S. View the 2006 through 2016 Audit per diem rates.
Workers Compensation Insurance Manual Rates - effective April 1, 2016 (see annual rates below)
Attached please find COPAS published Workers Compensation Manual Rates for the years 2013 through 2005 and examples of the application of the Workers Compensation Manual Rates. The rates, which vary by job classification and state, are effective January 1 of the applicable year. For more information, refer to COPAS MFI-31 available from our On-line Store & Publications.
2013 Workers Compensation Manual Rates
2012 Workers Compensation Manual Rates
2011 Workers Compensation Manual Rates
2010 Workers Compensation Manual Rates
2009 Workers Compensation Manual Rates
2008 Workers Compensation Manual Rates
2007 Workers Compensation Manual Rates
2006 Workers Compensation Manual Rates
2005 Workers Compensation Manual Rates
Examples of the application of Workers Compensation Manual Rates
Loading and Unloading Rate - $0.78 per hundred weight, effective April 1, 2016
Loading and unloading costs are an element of material pricing. Certain COPAS Model Form Accounting Procedures state the Operator may use specified loading and unloading rates that are adjusted by the same percentage used to adjust overhead rates (rounded to the nearest cent). View the 2004 through 2016 loading & unloading rates. The resulting rate is effective April 1 of the applicable year. For more information, refer to COPAS MFI-38 available from our On-line Store & Publications.
Used-Equipment Percentages – 75%/65%* for B condition, 50% for C condition, effective January 1, 2015
Used equipment transferred between properties with different ownership or between a property and a warehouse, is valued at a percentage of the current new prices times the condition value. While most COPAS Model Form Accounting Procedures (APs) provide for a fixed percentage that corresponds to the condition of the equipment, the 1995 and Project Team APs have an option for used material to be priced at the “percentage most recently recommended by COPAS.” For this reason, COPAS conducts an annual survey to determine the used-equipment percentages that are effective January 1 of the applicable year.
* B Condition material is charged at 75% of current new price. B condition material is credited at 75% of current new price if the material was new when it was charged to the property, or at 65% if the material was used when it was charged to the property. C condition material is always charged and credited at 50% of current market value, subject to certain provisions concerning reconditioning costs.
Tubular Pricing Updates and HPMs
The posting of HPMs (Historical Price Multipliers) as well as tubular pricing updates on this website was suspended in January 2007. The HPMs developed for 2007 and thereafter are designed to work only with the new web-based CEPS product. Annual subscriptions to CEPS are available from our On-line Store & Publications.
COPAS model form Accounting Procedures allow use of PMTA rates as an option to bill costs of operator-owned vehicles. The PMTA organization disbanded effective January 1, 2014, and advised COPAS that it would no longer publish rates after the 2013 rates. As such, COPAS devised and approved an equitable alternative similar to the previously published PMTA rates.
To manage consistency with other COPAS economic factors, COPAS, upon annual Council approval, will begin publishing automotive rates effective April 1, 2014. The annual rates will be provided at no charge. For convenience, the 2013 PMTA rates are reprinted here, with permission. View the 2014 rates. View the 2015 rates. View the 2016 rates.
For a complete discussion, please refer to COPAS Model Form Interpretation 55.
Excluded Amount - $1,600, effective April 1, 2016
Most COPAS Accounting Procedures prior to COPAS 2012 require the application of freight equalization if trucking charges are greater than the Excluded Amount. Although actual trucking charges are primarily used as industry practice, since they are easily supported through vendor invoices, under many model forms freight equalization is still required in cases where actual transportation cost is greater than the cost between the railpoint and property, and the requirement for COPAS to publish the Excluded Amount is still in effect. By raising the excluded amount, the pool of invoices that Operators and Auditors have to examine for potential freight equalization is reduced. COPAS Materials Subcommittee determined the Excluded Amount is $1,600, effective April 1, 2015, based on an average of transportation costs, provided by several companies represented by the Materials Subcommittee, and comparable transportation routes. View the rates from 1975 to 2016.