What’s in the COPAS Publication Pipeline?

COPAS publications and guidelines establish many of the rules used by our members in their daily jobs and are often incorporated into important contracts. We feel that input from a variety of viewpoints is helpful in coming up with excellent publications that are both informative and effective as we continue, as a group, to improve our industries. Our members range from sole proprietorships to the largest integrated “majors.” You can find COPAS members in the following industries:

  • Academia
  • Governmental agencies
  • Consulting companies
  • Oil and gas exploration and
  • Production companies

To ensure the publications that we and our members produce provide high-quality information, they all must go through a series of reviews and revisions within our publication pipeline before a final draft can be made.

What is Currently in the COPAS Publication Pipeline?

This is a look at what publications are currently under development with COPAS.

MFI-XX, Remote Technology Centers (RTC)

This is a replacement publication for AG-28, Remote Technology Operations Centers

The RTC project came about from a Fall 2016 Emerging Issues Case Study. From a straw poll recommendation, a project team was formed to review the issue.

In the Spring 2017 COPAS meeting, the project team presented scenarios for an update of the Accounting Guideline, or a rewrite to a Model Form Interpretation to address developments since the original publication.

Through surveys, the team reached a consensus on the focus of the publication and have been working towards a final draft.

MF-20XX and MFI-XX, 20XX Model Form Accounting Procedure Interpretation

This Model Form Accounting Procedure would be an eventual replacement for the 2005 Model Form Accounting Procedure when approved by Council.

Like the RTC project, the MF-20XX drafting team has developed a draft document and published it in the website member area.

Draft 1 of the Accounting Procedure includes many comments from the project team as they have reviewed and considered updates to the prior versions of the Model Form Accounting Procedure.

The accompanying interpretation is still in development and a draft has not yet been issued.

How to Stay Connected to the Publication Pipeline

Here are some recommendations for staying connected to the publication pipeline:

  1. Attend COPAS Meetings:  Project team presentations are part of the Audit and Joint Interest Standing Committees meetings. These meetings happen four times a year in January, April, July, and September or October and are held in person. The project team presenting is either seeking input to develop an initial draft or seeking feedback on the draft that has been prepared. Challenges are discussed and debated during this time with the project team considering the additional input.
  1. Involvement in a COPAS Committee:  As the project develops, the project team communicates with the standing committee chairs via email. The committee chair forwards updates and publication drafts to society committee chairs and other interested parties. If you are not on that list, we highly suggest that you request to be added.  Standing committee chairs are listed on the website, in the Leadership Handbook, or a list can be obtained by contacting the COPAS office.
  1. Read the Project Status Report: Project status reports are published quarterly. This report appears in ACCOUNTS magazine and on the COPAS website.  The report summarizes the project status, the date for comments and dates for Council vote.
  1. Utilize the Draft Publications Area of the COPAS Website: Follow project team progress in the Draft Publication area (within the Member Area) of our website. You will need to sign in using your member credentials to view progress. If you need help, please contact the COPAS office.
  1. Use Your Knowledge Network: Utilizing your knowledge network will help you gain additional insight and perspective on a publication. Click here to learn more about building your knowledge network.

At our core, we are a forum for the active exchange of ideas that results in innovative business and accounting solutions. It is important to note that you, your company, and your society can all comment on the project team drafts and exchange your ideas while the drafts are in progress.

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, education, and publications. Contact us today for more information.