Production
Measurement and Allocation For Accountants
Production and
Revenue calculations can be complex and confusing. They are frequently performed by field personnel and reviewed by
accountants who need an understanding of the mathematics and relationships
involved. After an initial discussion
of events that occur in the Production phase of a well, this class is a
workshop that will take participants through production calculations and
allocations so that those who perform, audit or review those problems will be
able to do so more accurately, efficiently and effectively. Participants will
be able to work the problems manually and also in Excel.
Who Should
Attend:
Production and Revenue
accountants and auditors who want to learn how to do the Production and Revenue
calculations, to review those types of problems or to create and utilize
spreadsheet templates for those problems.
Pre-requisites: None, but since there is very little lecture
participants should understand the principles of Revenue and Production.
Upon
Completion of this Program, Participants will be Able to:
·
Understand and perform
production calculations
·
Work better with field
production personnel and understand what they do
·
Understand how to
utilize Excel to make these calculations easier to perform
·
Understand how the
production calculations affect the value of the product
·
Understand how to do
production allocations
Key Topics
and Objectives:
Calculate
and Correct a Run Ticket
Calculate
the Flow of Oil Through a LACT Meter
Calculate
Oil Production from a Lease
Perform
an Oil Network Allocation
Calculate
Ending Inventory by Owner
Calculate
Gas Production and Sales from Multiple Related Producing Wells
Perform
Pressure Based Corrections
Perform
Central Facility Allocations
Calculate
GOR for Casinghead Gas
Calculate
Average Sales Price
Calculate
a Transportation Contract
Utilize
a Spreadsheet for Each of These Problems
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