Petroleum Accounting 2

This two day seminar is a continuation of Petroleum Accounting I, delving into some of the more complex aspects of Petroleum Accounting listed below.

Who Should Attend:

CPAs who audit oil and gas companies. Government regulators. Individuals whose work involves jointly operated companies and recording conveyance. Anyone who attended Petroleum Accounting I and wishes to expand on his or her knowledge of Petroleum Accounting principles.

Pre-requisites: Petroleum Accounting I or equivalent knowledge base

Upon Completion of this Program, Participants will be Able to:

• Understand some of the more complex issues of oil and gas accounting

• Understand disclosures

• Understand production payments and net profits interests

• Understand the basics of hedging and risk management

• Understand the different types of mineral property conveyance transactions including farmouts, carried interests and unitizations

• Understand the basics of accounting for the mineral property conveyances listed above

• Understand the basics of E&P income taxes and rules

• Understand asset retirement obligations

• Expand upon what the participant learned in Petroleum Accounting I

Key Topics and Objectives:

Nonvalue Disclosures About Oil and Gas

Value Based Disclosures

Accounting for Conveyances

Production Payments and Net Profits Interest

Farmouts, Carried Interests, and Unitizations

Accounting for Partnership Interests

Asset Retirement Obligations

Basic E&P Income Tax Rules

Accounting for Income Taxes

Derivatives and Hedge Accounting

Risk Management

Quality programs – offered on-site and adapted for your company. Contact Jim Hoffman at 214.763.9644 or via email at jhoffman@pdi.org. Visit us online at www.pdi.org