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

Post Graduate Diploma

In Bangkok (Thailand), Durban (South Africa), Dubai (United Arab Emirates) and 7 other venues

₹ 527,829.90 VAT not incl.

*Indicative price

Original amount in GBP:

£ 5,000

Description

  • Duration

    5 Days

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

Facilities

Location

Start date

Amsterdam (Netherlands)
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Damrak 1-5, 1012

Start date

On request
Bangkok (Thailand)
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South Sathon Road, 10120

Start date

On request
City of London (England)
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Kendal Street

Start date

On request
Dubai (United Arab Emirates)
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Coral Deira Hotel, Muraqabat Street, Deria, Dubai, 82999,, 82999

Start date

On request
Durban (South Africa)
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Walnut Road, 40001

Start date

On request
Hong Kong (Hong Kong)
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Start date

On request
Kuala Lumpur (Malaysia)
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Jalan Ampang Hilir, 68

Start date

On request
Manama (Bahrain)
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Salman Highway

Start date

On request
Milano (Italy)
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Via Washington, 66 Milan, 20146

Start date

On request
Paris 01 Louvre (France)
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Start date

On request
See all (10)

About this course

Degree or Work Experience

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Course programme

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

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

₹ 527,829.90 VAT not incl.

*Indicative price

Original amount in GBP:

£ 5,000