Model Form Interpretations

Showing 1–30 of 37 results

  • MFI-1 1962 Model Form Accounting Procedure Interpretation

    This document provides recommendations to aid in the interpretation and application of the 1962 Model Form so there can be a common ground of understanding in negotiations. Users will read detailed recommendations and explanations for the five major sections of the accounting procedure: General Provisions: Direct Charges, Indirect Charges, Basis for Charges to Joint Account, and Disposal of Material.  26 pages. Pub 1966.

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  • MFI-2 1968 Model Form Accounting Procedure Intepretation

    This document provides recommendations to aid in the interpretation and application of the 1968 Model Form so there can be a comon ground of understanding in negotiations.  Users will read detailed recommendations ane esplanations for five major sections of the accounting procedure:  General Provisions, Direct Charges, Indirect Charges, Basis for Charges to Joint Account, and Disposal of Material.   43 pages. Pub 1969.

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  • MFI-3 Arctic Model Form Accounting Procedure Interpretation

    Rather than a detailed explanation of each provision of this Model Form, this document explains the difference in concept and intent between the needs of traditional operations as expressed in the COPAS '62, COPAS '68, and COPAS '74 Model Forms an those needs of arctic operations.  13 pages.   Pub. 1975

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  • MFI-4 1974 Model Form Accounting Procedure Interpretation

    This document provides recommendations to aid in the interpretation and application of the 1974 Model Form so there can be a common ground of understanding in negotiations. Users will read detailed recommendations and explanations for four major sections of the accounting procedure: General Provisions, Direct Charges, Overhead, Pricing of Joint Account Material Purchases, Transfers and Dispositions, and Inventories.  23 pages - Published in 1975.

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  • MFI-5 1976 Offshore Model Form Accounting Procedure Interpretation

    This document provides recommendations to aid in the interpretation and application of the 1976 Offshore Model Form so there can be a common ground of understanding in negotiations.  Users will read detailed recommendations and explanations for four major sections of the accounting procedure:  General Provisions, Direct Charges, Overhead, and Pricing of Joint Account Material Purchases, Transfers and Dispositions.   25 pages. Pub. 1977

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  • MFI-14 Employee Benefits Limitation

    This document explains potential conflicts in the appropriate employee benefits rate to assess and provide recommended language to resolve the problem.  2 pages.  1982.

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  • MFI-17 1984 Model Form Accounting Procedure Interpretation

    This document provides recommendations to aid in the interpretation and application of the 1984 Model Form so there can be a common ground of understanding in negotiations.  Users will read detailed recommendations and explanations for all five major sections of the accounting procedure:  General Provisions, Direct Charges, Overhead, Pricing of Joint Account Material Purchases Transfers & Dispositions, and Inventories.   37 pages. Rev. 1985

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  • MFI-18 Operator Affiliates and Related Entities

    This document discusses the issues associated with an Operator's use of affiliates, subsidiaries, and/or related entities and provides guidelines for determining if the costs for such material or services should be priced at third party rates or at rates for equipment or facilities furnished by the operator. 4 pages. 2010.

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  • MFI-19 1986 Offshore Model Form Accounting Procedure Interpretation

    This document provides recommendations to aid in the interpretation and application of the 1986 Offshore Model Form so there can be a common ground of understanding in negotiations.  Users will read detailed recommendations and explanations for all five major sections of the accounting procedure:  General Provisions, Direct Charges, Overhead, Pricing of Joint Account Material Purchases Transfers & Dispositions, and Inventories.   40 pages. Pub 1987

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  • MFI-21 Overhead Principles

    This document provides guidance as to the difference between Indirect Costs (covered by overhead) and Direct Costs and provides an overview of Overhead provisions specific to each Model Form to increase awareness regarding the implications and consequences associated with various Overhead options.  The document includes detailed discussions of District Expense, Administrative overhead, Warehousing, First Level Supervision, Technical Labor, Personal Expenses, Major Construction, Catastrophe, and Project Team Overhead, and several other areas where confusion has existed. 41 pages. Rev. 2002 Includes the Addendum 1 - MFI-21 AD-1 Overhead – Joint Operations, 2005 Accounting Procedure

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  • MFI-23 Discounts

    This document recommends uniform guidelines be used regarding cash, trade and volume discounts received for materials and services purchased specifically for the Joint Account. 14 pages. 2016.

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  • MFI-26 Joint Interest Billing Summary Classifications

    This document provides detailed definitions of standard account classifications of cost data for recording so that summary form billing to non-operators will be standardized as to explanations of the specific nature of the amounts billed.  20 Pages. Rev. 1994.

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  • MFI-27 Employee Benefits and Percentage Limitation

    This document provides explanations and lists of costs which should and should not be included in the operator's employee benefits percentage calculation applied to chargeable labor costs.  6 pages.  2011.

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  • MFI-30 1995 Model Form Accounting Procedure Interpretation

    This document provides recommendations to aid in the interpretation and application of the 1995 Model Form so there can be a common ground of understanding in negotiations.  Users will read detailed recommendations and explanations for all five major sections of the accounting procedure:  General Provisions, Methods of Charges to the Joint Account, Costs Incurred on the Joint  Property, Costs Incurred Off the Joint Property, Overhead, Material Purchases, Transfers & Dispositions, and Inventories & Controllable Material.  It includes a comparison matrix between the 1995 Model Form and the 1984/1986 Model Forms. 65 pages. Pub. 1996.

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  • MFI-31 Self-Insurance for Workers’ Compensation and Employers’ Liability Insurance

    This document addresses the issue of the difficulty for an operator to calculate its cost of workers' compensation and employer's liability insurance when it is self-insured and provides guidance as to the manual rates chargeable for different states and offshore and for various job classifications.   4 pages.  1996.

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  • MFI-35 Employee and Contractor Training Costs

    This document addresses the chargeability of employee and contract employee training charges when the operating agreement is silent, or where there is conflict between the operator and non-operator as to the chargeability. Included are tables of chargeable and non-chargeable training costs for each vintage of Mondel Form Accounting Procedure. September 2013. 25 pages.

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  • MFI-36 Audit Rights of Non Participating and Non Consenting Parties

    Most JOA's do not address audits of Payout Accounts. This document clarifies the audit rights related to a non-participants's share of expenses for non-consent situations in the absence of specific audit rights in the JOA.   3 pages.  1997.

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  • MFI-37 Incentive Compensation Costs

    This document discusses the changing nature of employee compensation, defines Incentive Compensation Programs (ICP)s, and provides guidance on methods of charging ICPs to the joint account.  3 pages. 1997.

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  • MFI-39 1998 Project Team Model Form Accounting Procedure Interpretation

    This document provides recommendations to aid in the interpretation and application of the 1998 Project Team Model Form so there can be a common ground of understanding in negotiations.  Users willread detailed recommendations and explanations for all five major sections of the accounting procedure:  General Provisions, Direct Charges, Overhead, Material Purchases Transfers & Dispositions, and Inventories of Controllable Material.  68 pages.  Pub. 1998

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  • MFI-40 24 Month Adjustment Period for Joint Account Adjustments

    This document discusses industry inconsistencies in the interpretation and application of the 24-month adjustment period and explains situations and provides examples of the situations where charges may be allowed outside the 24-month adjustment period.  4 pages.  1998.

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  • MFI-41 Electronic Invoice Documentation Requirements

    Given the elimination of the traditional paper trail with electronic invoicing, this document explains the types of documentation required to support various types of electronic invoices.  3 pages.  1998.

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  • MFI-42 Procurement Card and Convenience Check Documentation Requirements

    This document provides guidance on documentation required for charges originating from the use of Procurement Cards or Convienience Checks.  3 pages.   1998.

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  • MFI-43 Joint Interest Expenditures Documentation Requirements

    This document explains what is considered adequate documentation supporting joint account charges and credits and the operator's and non-operator's responsibilities regarding the documentation of lack thereof.   3 pages.  1999.

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  • MFI-44 Field Computer and Communication Systems

    This document serves as the basis to equitably distribute computing and communication costs, including hardware and software, regardless of ownership and properties served, based on the use and benefit of the equipment and software.  The document includes tables listing computer applications considered directly chargeable and those covered by overhead, allocation matrices showing possible allocation methods, and a glossary of computer/communication terms.  18 pages.  2000.

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  • MFI-45 Offshore Marine and Aircraft Allocations

    This document discusses allocation methodology theory and the importance of equity and consistency in allocations.  It provides a litmus test to determine if an allocation is equitable and provides numerous examples of possible boat and helicopter allocation methodologies as well as a glossary of boat and helicopter terms.  42 pages.  2000.

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  • MFI-46 Shorebase Facilities and Offshore Staging Areas

    This document defines and describes shorebases and staging areas, the types of shorebase services provided, costs included in shorebase operations, various allocation methodologies, and a glossary of shorebase terms.  18 pages.  2000.

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  • MFI-47 Overhead Rate Adjustments

    This document provides guidance for adjusting overhead rates if such rates were not adjusted in a prior year.  3 pages.  2001.

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  • MFI-48 Application & Calculation of Drilling Overhead

    This document discusses which projects qualify for overhead under the various Model Forms for both fixed rate and percentage overhead, how to calculate the proper overhead due, the various equipment types qualifying for drilling overhead, what is meant by "commence," "suspension of operations" and "Force Majeure."  Numerous examples are provided explaining the concepts so users can properly calculate overhead. Recent update provides guidance on what is meant by "spud" date, clarifies "suspension of operations" in situations such as multi-stage fracing where completion operations require long periods of activity and inactivity, incorporates the COPAS 2005 Accounting Procedure provisions, and provides additional examples to aid users in applying the MFI.  35 pages.  Published April 2012.

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  • MFI-49 Employee and Contractor Awards

    This document explains the forms and basis of various types of awards and discusses the chargeability of awards to employees and contractors under each of the Model Forms.  It includes a matrix to aid users in determining if the award is chargeable, covered by Employee Benefits, or covered by overhead.  15 pages.  2004.

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Showing 1–30 of 37 results