Advanced Oil and Gas Accounting: International Petroleum Accounting (3)

HRODC Postgraduate Training Institute
En Brussels, Belgium (Bélgica)

£ 5.000 - ($ 100.779)
+ IVA

Información importante

  • Curso
  • Brussels, belgium (Bélgica)
  • Duración:
    Flexible
  • Cuándo:
    A definir
Descripción

Limited Objectives: By the conclusion of the specified learning and development activities, delegates will be able to: Determine the three (3) basic methods of conveying mineral interest. Distinguish between operating (working) interests and nonoperating (nonworking) interests. Differentiate basic working interest and joint working interest. Define Basic Royalty Interest (RI), Royalty Interest (ORI), Production Payment Interest (PPI) and Net Profits Interest.
Suitable for: This course/seminar is specifically designed for: Finance Directors and Managers, Financial Controllers, Chief Accountants, Treasury Officers, Asset Accountants, Joint Venture Accountants, Management Accountants, Internal and External Auditors, Government Regulators, Financial Analysts, Public Accountants

Información importante

Requisitos: Degree or Work Experience

Sedes

Dónde se enseña y en qué fechas

inicio Ubicación
A definir
A definir
Brussels, Belgium
Rue du Fosse-Aux-Loups, 1000, Bélgica, Bélgica
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¿Qué aprendés en este curso?

Contracts
Financial Accounting
Basic
Accounting
IT
Basic IT training
Basic IT
Sales
Oil and Gas
Gas
International
Accounting MBA
Financial
Venture
Property
systems
Government
Joint
Accountants
Financial Training
IT Development
Petroleum
Sales Training
Production
Oil and Gas Accounting

Temario

Course Contents, Concepts and Issues:

Conveyances

  • Mineral Interests
  • Types of Interest
  • Basic Working Interests (WI)
  • Joint Working Interest
  • Basic Royalty Interest (RI)
  • Overriding Royalty Interest (ORI)
  • Production Payment Interest (PPI)
  • Net Profit Interest
  • Conveyances: General Rules
  • Conveyances: Exchange and Poolings
  • Farm – Ins/Farm Outs
  • Farm – Ins/Farm Outs With A Reversionary Working Interest
  • Free Wells
  • Carried Interests or Sole Risk
  • Joint Venture Operations
  • Poolings and Unitizations
  • Unitizations
  • Participation Factors
  • Computation of Barrels For Payout
  • Computation of Proved Reserves
  • Computation of Proved Developed Reserves
  • Conveyances: Sales
  • Unproved Property Sales
  • Sales of Entire Interest in Unproved Property
  • Sales of Partial Interest in Unproved Property
  • Proved Property Sales
  • Sales and Purchases of a Partial Interest in Proved Property
  • Sales of Working Interest in a Proved Property With Retention of Nonworking Interest
  • Conveyances: Production Payments
  • Retained Production Payments
  • Retained Production Payments Payable in Money – Reasonably Assured
  • Retained Production Payments Payable in Money – Not Reasonably Assured
  • Carved-Out Production Payments Payable In Product Or Volumetric Production Payment (VPP)
  • Conveyances-Full Cost
  • Problems and Issues Associated with Conveyances

Oil and Gas Disclosures

  • Required Disclosures
  • Illustrative Example
  • Proved Reserve Quantity Information
  • Reserve Definitions
  • Proved Reserves
  • Proved Developed Reserves
  • Proved Undeveloped Reserves
  • Use of End-Of-Year Prices
  • Reserve Quantity Disclosure
  • Capitalized Costs Relating to Oil and Gas Producing Activities
  • Costs Incurred for Property Acquisition, Exploration, and Development Activities
  • Results of Operations for Oil and Gas Producing Activities
  • Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserve Quantities
  • Future Cash Inflows
  • Future Development and Production Cost
  • Future Income Tax Expenses
  • Future Cash Flows
  • Discount
  • Changes in the Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserve Quantities
  • Analysis of Reasons for Changes in Value of Standardized Measure 12/31/XB
  • Sales and Transfers, Net Of Production Costs
  • Changes from Extensions, Discoveries, and Improved Recovery
  • Changes in Estimated Future Development Costs
  • Development Costs Incurred During the Period that Reduce Future Development Costs
  • Analysis of Changes in Development Costs
  • Revision Quantity
  • Accretion of Discount
  • Conclusion
  • Problems and Issues that Address Oil and Gas Disclosures

Accounting for Internaitonal Petroleum Operations

  • Petroleum Fiscal Systems
  • Concessionary Systems
  • Concessionary Agreements with Government Participation
  • Contractual Systems
  • Government Involvement in Operations
  • Government Participation      
  • Back In
  • Production Sharing Contracts
  • Signature and Production Bonuses
  • Royalties
  • Government Participation
  • Cost Recovery
  • Profit Oil
  • Other Terms and Fiscal Incentives
  • Service Contracts
  • Joint Operating Agreements
  • Recoverable and Non-Recoverable Costs
  • Financial Accounting Issues
  • Financial Accounting vs. Contract Accounting
  • International Accounting Standards
  • Problems

Analysis of Oil and Gas Comapnies' Financial Statements

  • Contractual Systems
  • Government Involvement In Operations
  • Production Sharing Contracts
  • Signature and Production Bonuses
  • Royalties
  • Government Participation
  • Cost Recovery
  • Profit Oil
  • Other Terms and Fiscal Incentives
  • Capital Uplifts
  • Ringfencing
  • Domestic Market Obligation
  • Royalty Holidays And Tax Holidays
  • Service Contracts
  • Joint Operating Agreements
  • Financial Accounting Issues
  • Financial Accounting vs. Contract Accounting
  • Disclosure of Proved Reserves – SFAS No. 69
  • Disclosure of Reserves
  • International Accounting Standards

Analysis of Oil and Gas Companies' Financial Statements

  • Source of Data
  • Historical Cost-Based
  • Future Value-Based
  • Production
  • Productive Wells And Acreage
  • Undeveloped Acreage
  • Drilling Activity
  • Present Activities
  • Delivery Commitments
  • Comparing Financial Reports
  • Reserve Ratios
  • Reserve Replacement Ratio
  • Reserve Life Ration
  • Net Wells To Gross Wells Ratio
  • Average Reserves Per Well Ratio
  • Average Daily Production Per Well
  • Reserve Cost Ratios
  • Finding Costs Ratios
  • Lifting Costs Per BOE
  • DDA&A Per BOE
  • Reserve Value Ratios
  • Value of Proved Reserve Additions Per BOE
  • Value Added Ratio
  • Financial Ratios
  • Liquidity Ratios
  • Current Ratio
  • Quick Ratio
  • Working Capital
  • Financial Strength Ratios:
  • Debt to Stockholder’s Equity
  • Debt to Assets
  • Times Interest Earned
  • Profitability Ratios
  • Net Income to Sales
  • Return on Stockholder’s Equity
  • Return on Assets
  • Cash Flow From Operations to Sales
  • Price/Earnings Ratio
  • Price/Cash Flow Ratio
  • Problems