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;
U
niversity 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 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 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.
