Gas Balancing (Houston)

Event Description

 COPAS Energy Education

Gas Balancing
Hosted by
Hein & Associates LLP
Houston June 20, 2017 – 8AM to 5PM
12th Floor, 2 Allen Center
1200 Smith St, Houston, TX 77002
Program Level: Intermediate                             Delivery: Group Live
CPE Credits:                                           Prerequisites: None
Advance Prep: None                                  Cost: $350 (20% off until May 20)
Prerequisites: Some revenue accounting experience useful 
Instructor: Salomon Tristan
Field of Study: Specialized Knowledge and Applications
Refreshments and lunch provided. 
This course provides an overview of Gas Balancing and linking directly into imbalances, owner responsibilities, and how to account for them. It is suitable for petroleum industry experienced Revenue Accountants, business professionals, investment advisors, analysts, regulators, government employees, and lawyers.
DESCRIPTION: This course covers the following topics:
  • Introduction and overview of Gas Balancing - deregulated Gas Marketing
    • Historical Gas Marketing
    • Current Gas Marketing
  • Common Types of imbalances
    • Producer to Producer
    • Producer to Transporter
  • How Other Types of Imbalances Are Created
    • Producer Shipper to Purchaser
    • Producer to Gas Plant
    • Piplelines with Multiple Deliver Points
  • Finding the Data to Track Gas Balances
    • Production Operations
    • Land Administration
    • Gas Marketing
  • Reporting Data & Positions on Gas Balancing Statement
    • Production Data
    • Well/Lease/Field
    • Transporter
    • Current and Cumulative Imbalance Volume
    • Positions
      • Sales vs Entitlements
      • Valuation
  • Balance Settlements
    • In Place Gas Balancing Agreement
    • No Gas Balancing Agreement
    • Special Circumstances for Production - OK Senate Bill 168
OBJECTIVES: Upon completion of this course, you will be able to:
  • Demonstrate an understanding of gas sales prior to deregulation to "open access."
  • Discuss and apply gas balancing on working interest, royalty and overriding royalty owners.
  • Summarize and apply the appropriate methodology for computing owner responsibilities for the gas balancing process along with lease operating expenses, royalties and taxes.
  • Differentiate and discuss other types of imbalance concepts and processes.
  • Summarize Gas settlement balances.
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:
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