Upstream Oil & Gas Accounting & Contracts. Contents inc. 3-D Seismic, 4-D Seismic, Blowout Preventer, Bottom-Hole, Christmas Tree, Derek Hands, Drill Stem, Drilling Platform, Dry Hole, Fee Interests, Injection Well, Lease Bonuses, Mineral Interests, Mouse Hole, Offset Well, Oil Rig, Peak Oil, Primary Term, Production Payment, Proved Area, Rat Hole, Seismic Exploration, Service Well, Shut-In Payment, Working Interest, in Abuja, Accra, Amman, Bangkok, Banjul, Beirut, Birmingham, Bogotá, Brasilia, Brunei, Brussels, Bucharest, Cairo, Colombo, Conakry, Dodoma, Doha, Dubai, Durban, Gaborone, Georgetown, Hanoi, Islamabad, Jakarta, Jeddah, Kathmandu, Kinshasa, Kuala Lumpur, Kuwait, Lagos, Lima, London, Luanda, Lusaka, Manama, Manila, Maputo, Muscat, Nairobi, New Delhi, New York, Niamey, Paramaribo, Paris, Quito, Rabat, Seoul, Singapore, Tokyo, Toronto, Tripoli, Windhoek, Wolverhampton, etc. and Online.

Course Number 036 - Upstream Oil & Gas Accounting & Contracts: Oil & Gas Operation, Mineral Rights, Leases & Successful Efforts Accounting Course, Leading to Diploma – Postgraduate – in Upstream Oil and Gas Accounting and Contracts, 36 Credit-Hours, accumulating to a Postgraduate Certificate, with 144 additional Credit-Hours, and a Postgraduate Diploma, with 324 additional Credit-Hours.  

Doctor of Philosophy {(PhD) {University College London (UCL) - University of London)};

MEd Management (University of Bath);

Postgraduate (Advanced) Diploma Science Teacher Ed. (University of Bristol);

Postgraduate Certificate in Information Systems (University of West London, formerly Thames Valley University);

Diploma in Doctoral Research Supervision, (University of Wolverhampton);

Teaching Certificate;

Fellow of the Institute of Management Specialists;

Human Resources Specialist, of the Institute of Management Specialists;

Member of the Asian Academy of Management (MAAM);

Member of the International Society of Gesture Studies (MISGS);

Member of the Standing Council for Organisational Symbolism (MSCOS);

Member of ResearchGate;

Executive Member of Academy of Management (AOM). There, his contribution incorporates the judging of competitions, review of journal articles, and guiding the development of conference papers. He also contributes to the Disciplines of:

Human Resources;

Organization and Management Theory;

Organization Development and Change;

Research Methods;

Conflict Management;

Organizational Behavior;

Management Consulting;

Gender & Diversity in Organizations; and

Critical Management Studies.

Professor Dr. Crawford has been an Academic in the following UK Universities:

University of London (Royal Holloway), as Research Tutor;

University of Greenwich (Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

University of Wolverhampton, (Wolverhampton Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

London Southbank University (Business School), as Lecturer and Unit Leader.

His responsibilities in these roles included:

Doctoral Research Supervisor;

Admissions Tutor;

Postgraduate and Undergraduate Dissertation Supervisor;

Programme Leader;

Personal Tutor.

 

For Whom This Course is Designed

This course is designed specifically for all those who work with financial information and measures of performance for Oil and Gas Exploration and Production (E&P) activities, and those seeking to enhance their career prospects within the Upstream International Petroleum - Oil and Gas - Sector. The group of people who will benefit from this course is, therefore, inclusive of, but not limited to the following:

Asset Accountants;

Chief Accountants;

Chief Executives;

Drilling & Refinery Managers;

Engineers and Geologist;

Finance Directors;

Finance Managers;

Financial Analysts;

Financial Controllers;

Government Ministers,

Government Regulators;

Internal and External Auditors;

Joint Venture Accountants;

Joint Venture Operators;

Land Office Workers;

Land Registrars;

Landsmen;

Legal Personnel in Upstream Oil and Gas Sector;

Management Accountants;

Managing Directors;

Marketing & Sales Directors & Managers;

Public Accountants;

Treasury Officers;

Upstream Oil and Gas External Auditors;

Upstream Oil and Gas Internal Auditors;

Venture Capitalists;

All others with a genuine interest in Mineral Rights, Surface Rights, Fee Interest, Lease, Royalties, and the Exploration, Drilling, Testing and the Production of Oil and Gas.

 

Classroom-Based Duration and Cost:

Classroom-Based Duration:

6 Days

Classroom-Based Cost:

£6,000.00 Per Delegate

Group Cost:

Varies With Group Size

Group Residential Cost:

Up To 86% Discount, Based on Numbers.

Online Synchronous (Video-Enhanced) Duration and Cost

Online Duration:

12 Days @ 3 Hours Per Day

Online Cost:

£4,020.00 Per Delegate

The course cost does not include living accommodation. However, delegates are treated with the following:

 Free Continuous snacks throughout the Event Days;  

 Free Hot Lunch on Event Days;                           

 Free City Tour;             

 Free Stationery;                               

 Free On-site Internet Access;

HRODC Postgraduate Training Institute’s   Diploma – Postgraduate; or

Certificate of Attendance and Participation – if unsuccessful on resit.

 

HRODC Postgraduate Training Institute’s Complimentary Products include:

HRODC Postgraduate Training Institute’s Leather Conference Folder;

HRODC Postgraduate Training Institute’s Leather Conference Ring Binder/ Writing Pad;

HRODC Postgraduate Training Institute’s Key Ring/ Chain;

HRODC Postgraduate Training Institute’s Leather Conference (Computer – Phone) Bag – Black or Brown;

HRODC Postgraduate Training Institute’s 8GB USB Flash Memory Drive, with Course/ Programme Material;

HRODC Postgraduate Training Institute’s Metal Pen;

HRODC Postgraduate Training Institute’s Polo Shirt

 

Location:  Central London and International Locations

Course Number 036 - Upstream Oil and Gas Accounting and Contracts: Oil and Gas Operations, Mineral Rights, Leases and Successful Efforts Accounting – Leading to Diploma–Postgraduate in Upstream Oil and Gas Accounting and Contracts, Accumulating to a Postgraduate Diploma. Click to dowenload the Brochure for this Course.

 

Course Objectives

By the conclusion of the specified learning and development activities, delegates will be able to:                

Accurately account for ‘Disposition’ of capitalized costs, in reference to the impairment of unproved properties;

  Address problems and issues associated with upstream oil and gas operation;

 Address the geological issues relating to the origin, exploration and production of oil and gas;

Appropriately address Disposition of capitalized costs from the surrender or abandonment of property;

Appropriately apportion costs to non-drilling and drilling operations, respectively;

Demonstrate a working knowledge of Amortization, with particular reference to the oil and gas industry;

Demonstrate an appreciation of financial reporting policies and practices applicable in Oil and Gas Industry;

 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;

Demonstrate an understanding of the oil and gas industrial and the activities of each subsector;

Demonstrate mastery of the concepts and issues associated with exploration and drilling operation;

  Describe the methods of exploration generally used within the oil and gas industry;

Discuss, with examples, the benefits and drawbacks of nonworking interest;

Distinguish between 3D and 4D Seismic;

Distinguish between Mineral Rights, Mineral Interests and Fee Interests;

Distinguish between natural and artificial lifts, in oil and gas production;

Distinguish between Non-drilling and Drilling Costs;

Distinguish between the different types of wells;

Explain the basic principles of Successful Efforts Accounting in Oil and Gas;

  Explain the contractual issues that are associated with oil, gas and mineral lease;

Explain, with examples, Overriding Royalty Interests (ORI);

Explain, with minor omissions, the processes involved in oil and gas acquisition, exploration and mining;

  Outline the methods of production, employed in the oil and gas industry;

Outline the role of finance and accounting in an Oil and Gas Organisations;

Work through examples of Amortization of exploration and development costs of proved developed reserves.

 

Course Number 036 - Upstream Oil and Gas Accounting and Contracts: Oil and Gas Operations, Mineral Rights, Leases and Successful Efforts Accounting – Leading to Diploma–Postgraduate in Upstream Oil and Gas Accounting and Contracts, Accumulating to a Postgraduate Diploma. Click to download the Brochure for this Course.

 

Course Contents, Concepts and Issues

Please note that the breakdown represents a guide only and not a rigid arrangement. The tutor has the right to deviate from the order, as he or she deems necessary. While we aim to cover as much as possible of the concepts and issues, it is impossible to discuss all aspects. As a Postgraduate Course, Delegates and Students are expected to conduct their own research. As for all academic and professional examination, this course assesses selected knowledge and skills area, for each course iteration (delivery). Delegates and students should take responsibility for all the contents, concepts and issues that are presented below.

 
Part 1: 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.

 

 Part 2: 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.

 

Part 3: 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.

 

Part 4: 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.

 

Part 5: 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.

 

Part 6: 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.

 

Course Number 036 - Upstream Oil and Gas Accounting and Contracts: Oil and Gas Operations, Mineral Rights, Leases and Successful Efforts Accounting – Leading to Diploma–Postgraduate in Upstream Oil and Gas Accounting and Contracts, Accumulating to a Postgraduate Diploma. Click to download the Brochure for this Course.