Upstream Oil and Gas Accounting & Contracts: Oil and Gas Operation, Mineral Rights, Leases and Successful Efforts

HRODC Postgraduate Training Institute
In Amsterdam (Netherlands), Durban (South Africa), Dubai (United Arab Emirates) and 7 other venues

£ 6,000 - (Rs 4,92,529)
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Important information


Limited Objectives: By the conclusion of the specified learning and development activities, delegates will be able to. Demonstrate an understanding of the oil and gas industrial and the activities of each subsector. Demonstrate an awareness of the salient issues associated with the development of the United States oil and gas industry, as a mark car to International oil and gas exploration developments and it mining operations.
Suitable for: This course/seminar is 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

Important information

Where and when

Starts Location
On request
Damrak 1-5, 1012, Noord Holland, Netherlands
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On request
South Sathon Road, 10120, Bangkok, Thailand
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On request
City of London
Kendal Street, London, England
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On request
Coral Deira Hotel, Muraqabat Street, Deria, Dubai, 82999,, 82999, Dubai, United Arab Emirates
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On request
Walnut Road, 40001, Johannesburg, South Africa
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Frequent Asked Questions

· Requirements

Degree or Work Experience

Course programme

Course Contents, Concepts and Issues:

Upstream Oil and Gas Operations
  • Introducing the Oil and Gas Industry
  • Brief History of the U.S. Oil and Gas Industry
  • Origin of Petroleum
  • Anticline
  • Exploration Methods and Procedures
  • 3-D Seismic
  • 4-D Seismic
  • Acquisition of Mineral Interests in Property
  • Mineral Rights
  • Mineral Interests
  • Fee Interests
  • Overriding Royalty Interests (ORI)
  • Retained ORI Production Payment Interest (PPI)
  • Dutch Carved-Out Production Payment
  • Carved-Out Net Profits Interest Created From Working Interest
  • Net Profits Interest Created From Mineral Interest
  • Oil, Gas and Mineral Lease Provisions
  • Lease Bonuses
  • Royalty Provision
  • Primary Term
  • Delay Rental Payment
  • Shut-In Payment
  • Right To Assign Interest
  • Right To Free Use Of Resources For Lease Operations
  • Option Payment
  • Offset Clause
  • Addressing Problems and Issues Associated with Upstream Oil and Gas Operation
Introduction to Oil and Gas Accounting (1)
  • Oil and Gas Drilling Operations
  • BOP (Blowout Preventer)
  • Bottom-Hole Pressure
  • Bottom-Hole Pump
  • Drill String
  • Rat Hole
  • Mouse Hole
  • Drilling Platform
  • Drilling Rig
  • Proved Area
  • Drill Stem Test
  • Derek and Derek Hands
  • Cracking
  • Field
  • Christmas Tree
  • Sedimentary Rock
  • Seismic Exploration
  • Development Well Flowing Well
  • Injection Well
  • Offset Well
  • Stratigraphic Well
Introduction to Oil and Gas Accounting (2)
  • Stratigraphic Test Well or Exploratory Well
  • Service Well
  • Dry Hole
  • Dual Completion
  • Dry Natural Gas
  • Natural and Artificial Lifts
  • Oil and Gas Production and Sales
  • Some State and US Federal Oil and Gas Drilling Regulation
  • Maximum Efficiency Drilling Rate (MER)
  • The Concept of Peak Oil
  • Historical Cost Accounting Methods
  • Historical Development of Accounting Methods and Current Status
  • Introduction to Successful Efforts Accounting
  • Chart Accounts for Successful Efforts Company
  • Oil and Gas Subsectors - Upstream, Mid-Stream And Downstream
  • Horizontal, Vertical and Full Integration within the Oil and Gas Industry
  • Addressing Problems Associated with Oil and Gas Accounting
Nondrilling Exploration Costs - Successful Efforts
  • Introduction to Full Cost (FC) Accounting
  • Distinguishing between Non-Drilling and Drilling Costs
  • Cost of Identifying Areas that Might Warrant Exploration
  • Cost of Topographical, Geological and Geophysical Studies
  • Cost of Carrying and Retaining Undeveloped Properties
  • Dry Hole Contribution
  • Cost of Drilling and Equipping Exploratory Well
  • Cost of Drilling Exploratory Type Stratigraphic Test Well
  • Successful Efforts- Exploration Cost
  • Accounts for a Full Cost Company
  • G&G Costs
  • Reconnaissance Survey
  • Detailed Survey
  • Shooting Rights
  • Obtaining G & G Permits
  • Exchanging C & G Studies for Property Interest
Acquisition Costs of Unproved Property - Successful Efforts
  • Carrying and Retaining Costs
  • Delayed Rental Property Taxes
  • Legal Cost for Title Defense
  • Clerical and Record-Keeping Costs
  • Test-Well Contributions
  • Dry Hole Contribution
  • Bottom-Hole Contribution
  • Support Equipment And Facilities
  • Problems
  • Offshore and International Operations
  • Purchase in Fee (Fee Purchase)
  • Internal Costs
  • Options to Lease
  • Delinquent Taxes and Mortgage Payment
Acquisition Costs of Unproved Property - Successful Efforts
  • Successful Efforts Acquisition Costs
  • Internal Costs
  • Options to Lease
  • Delinquent Tax and Mortgage Payments
  • Top Leasing
  • Amortization
  • Amortization of Exploration and Development Costs of Proved Developed Reserves
  • Impairment
  • Disposition of Capitalized Costs - Impairment of Unproved Properties
  • Disposition of Capitalized Costs - Surrender or Abandonment Of Property
  • Post Balance Sheet Events
  • Disposition of Capitalized Costs - Reclassification Of An Unproved Property
  • Land Department
  • Addressing Issues and Problems in Unproved Property Acquisition Costs

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