Principles of Payout Accounting (Denver)

Event Description

 COPAS Energy Education

Principles of Payout Accounting
  
Hosted by
COPAS-Colorado 
 
Denver September 20, 2017 – 8AM to 12PM
 
Embassy Suites Hotel - Downtown
1420 Stout Street
Denver, CO 80202
 
 
Program Level: Basic                           Delivery: Group Live
CPE Credits: 4                             Prerequisites: None                                      
Advance Prep: None                    Cost: $159 until August 10, then $175
                                                         

Instructor: Jeff Wright
Field of Study: Accounting
 
Refreshments provided for morning break.  

 
This course is designed to introduce you to the very dynamic concept of “Payout” and its impact on various Oil and Gas industry functions. Many individuals have no idea what this function does or how important this activity is to the stakeholders it supports. In this four hour course we will discuss Payout and what it means, review basic documents needed to identify and track payout, identify the components of a payout calculation and what to do with them, and finally calculate a full payout. This principles class will provide a basic understanding of the payout process. 
 
  
DESCRIPTION: This course covers the following topics:
  
  • Overview of Payout Accounting
  • Payout Terminology
  • Concepts
  • Circumstances resulting in Payout Calculations
  • Contracts, Well Cards and other Source Documents
  • Payout Situations
  • Basic JOA Payout Language
  • Evaluate Oil and Gas Documents to find necessary Payout
  • Information
  • Components of Payout Calculation
  • Essential Data to track Payout
  • Calculate NRI
  • Expense Categories for Penalties
  • Distribution Procedures
  • Calculate Payout
  • Analyze OIl and Gas Documents
  • Example Agreements
 
OBJECTIVES: Upon completion of this course, you will be able to:
 
  • Explain Payout and differentiate circumstances that need a Payout calculation
  • Summarize the impact Payout accounting has on stakeholders
  • Demonstrate knowledge of basic agreements and ownership impacts
  • Apply payout concepts to an actual agreement and setup Payout for a test case
  • Recognize the business impact of the Payout Tracking Process
 
 
 
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

 

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