Global Oil and Gas Accounting and Contracting Procedures

Objective

“The world’s energy system is at a crossroads. Current global trends in energy supply and consumption are patently unsustainable - environmentally, economically and socially.”   Report published by the International Energy Agency (IEA)

With gasoline prices around $3 a gallon, shouldn’t we be singing “Happy (driving) days are here again?” Not according to the facts. The IEA ended their report by saying “Time is running out and the time to act is now.” Oil prices may not rise significantly in the near future; however, temporary demand destruction does not hold even a small candle to permanent supply destruction. To add to the problem, exploration and production around the world is downsizing, as the dramatically lower oil prices make projects uneconomical.

This program will present an examination of the current accounting and financial environment and how World Reserves, Consumption, Doing Business Internationally, Accounting Rules, Disclosures and Creditability all come into play. Participants will investigate the accounting and financial aspects of international oil and gas operations and gain a working knowledge of key oil and gas issues, techniques, practices and terminology. The program consists of the following parts: (i) Accounting for International Petroleum Operations, (ii) Accounting for International Contracts, and (iii) Financial Management, Planning and Analysis.

Benefits

• Discover how to make better accounting and financial decisions
• Learn how we disclosure the reserves and use the data for financial purposes
• Discuss the Major Contracts used on a world-wide basis and how they work
• Understand the Joint Venture Contracts and how they work
• Realize accounting issues, problems and solutions with regard to GAAP/SEC vs. Contract Accounting vs. Government Accounting and so on

Title:	Global Oil and Gas Accounting
WHEN:	▪   November 10, 2012 Early registration is encouraged. Class size is limited.
WHERE:	The Houstonian Hotel, 111 North Post Oak Lane  Houston, Texas 77024
DURATION:	1-day program: 8:30 am - 4:30 pm
FACULTY:	W. Wayne Scott
COST:	$1395 - Single Program $7350 - Energy Certificate  The program fee includes materials, lunch and breaks. Registration is not complete until payment is received.

Registration Deadlines

Early registration is encouraged. Class size is limited and may fill to capacity. We request registrations with payment at least three weeks in advance of the program start date.

To enroll online, please follow the link and from the Registration: Program Selection screen, choose pull-down option "Energy" to get started. If you prefer, you may also enroll via e-mail, fax or telephone.

Continuing Education Units

Participants earn 0.7 continuing education units (CEUs). A certificate of completion will be presented from Texas Executive Education.