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Joint Interest Accounting - Stories from the Trenches (Shreveport, LA)
COPAS Energy Education
Joint Interest Accounting - Stories from the Trenches
April 25, 2017 – 8AM to 5PM
104 Market St
Program Level: Advanced
CPE Credits: 8
Prerequisites: Some previous Joint Interest Accounting recommended.
Delivery: Group Live
Advance Prep: None
Instructor: Roger Gann
Field of Study: Accounting
Lunch will be provided.
Join COPAS Energy Education instructor Roger Gann as he discusses experiences and examples related to joint interest accounting topics. Using the COPAS Energy Joint Interest Accounting modules, Roger will use real world examples where operators may or may not have performed an accounting process correctly. Here are examples of what this class would cover:
- Have you ever wondered what to do when a charge or circumstance does not line up exactly with how your agreement is written? What is the best practice, and what is really being done? Which document rules when there are conflicts amount JOA, Exploration Agreement, Participation Agreement & Accounting Procedure?
- How should I allocate my costs in a way that treats my working interest owners fairly, and how often should I adjust those allocations?
- How do I properly count overhead days for drilling activities, given today's operating activities?
- What are some of the most common pitfalls of even the most experienced JI accountants? How do I avoid the pitfalls?
- Do you really understand what is billable under overhead? Learn some examples on how to draft and apply your agreements to comply.
LEARNING OBJECTIVES: Upon completion of this course, you will be able to:
- Evaluate the major provisions of COPAS Accounting Procedures
- Demonstrate the differences in and procedures for overhead calculations
- Determine tangible equipment pricing to identify charges to the joint venture
- Recognize unique joint interest accounting situations and apply concepts learned in determining when special JV adjustments apply
- Explain key accounting alternatives to allocate costs to multiple joint ventures
Council of Petroleum Accountants Societies (COPAS), Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.