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Petroleum Accountants Society of New Orleans January 15, 2014 Tom Wierman, Executive Director.

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Presentation on theme: "Petroleum Accountants Society of New Orleans January 15, 2014 Tom Wierman, Executive Director."— Presentation transcript:

1 Petroleum Accountants Society of New Orleans January 15, 2014 Tom Wierman, Executive Director

2 Membership is up 12%! Expanding emphasis on CPE at COPAS meetings APA® Program undergoing a complete review PMTA dissolution and COPAS’ response Publications process & greater transparency New publications approved – Fall 2013 Continuing efforts to author new publications, refresh prior publications

3 Company support initiative taking root Mentoring program underway Working on rolling out a pre-packaged CPE presentation COPAS MPACT ACCOUNTS, COPAS EXTRA!, Communication Social Media impact Volunteer Thank You Notes/Press Releases

4 New CEPS Support Provider New Process for Publications “CD” Freshen COPAS image through trade show booth, giveaways, materials and display Office Supply Member Discount Program has been steady More Member Benefits are about to be launched



7 Just over 4,000 members Thank you for your contributions to the industry Employers – THANK YOU for supporting the important work of COPAS

8  Five Largest Societies Colorado – 987 Houston – 542 Oklahoma City - 430 Fort Worth – 310 Dallas - 309 But remember, in COPAS, everyone is equal


10 Inaugural Education Day event in San Antonio Four Hours CPE - Reasonably priced

11 April 23 – Glendale (Spring 2014) “Contracts, Contracts, Contracts” We certainly can’t live without them, so let’s learn to better live with them! ◦ Pre-Drilling Agreements ◦ The Oil and Gas Lease ◦ JOA Provisions and Exhibits ◦ JOA Pitfalls and problem areas

12 Initiative to increase CPE opportunities NASBA Discussion Work with Committee Chairs on agendas Publish meeting agendas with CPE hours

13 Pre-packaged CPE Qualifying presentation Leader guide Discussion questions Available to ‘fill in’ for no-show presenters Beta Test – Education Committee (Fall 2013)


15 200 APA®s – are YOU next? Expanding Testing Locations and Options Testing in COPAS office, Company Locations, and at COPAS meetings Continue to find ways to promote our certification program – social media among the possibilities Credentialing conference attendance BOE is working to increase test questions coverage Investigating Review Program

16 Initiating a program review Job Analysis Request for Proposal 1.Literature Review 2.Data Gathering 3.Framework/Tasks & Knowledge 4.Focus Groups 5.Content, Format, Layout 6.Pretest/Pilot with SMEs 7.Surveys 8.Data Analysis 9.Focus Groups

17 Job Analysis vendor selection by end of January Stay Tuned Not anticipating sweeping changes in the very near future, changes will take several months


19 PMTA Rates ◦ Trusted economic factor ◦ Reliability lead to process change in data tracking ◦ Fewer responses received ◦ Declining Membership ◦ PMTA Dissolution ◦ COPAS Accounting Procedure requires equivalent rate COPAS’ response

20 What will happen for 2014? Control panel or subcommittee will provide an Economic Factor Rates published on the COPAS website Companies will always have the option to calculate and charge a rate commensurate with: Actual cost (up to the commercial rate limit) or Rate that represents average commercial rates in the area less 20%. Obtain MFI-55 for more information See Economic Factors Page

21 Vehicle Rates COPAS model form Accounting Procedures allow use of PMTA rates as an option to bill costs of operator-owned vehicles. The PMTA organization disbanded effective January 1, 2014, and advised COPAS that it would no longer publish rates after the 2013 rates. As such, COPAS devised and approved an equitable alternative similar to the previously published PMTA rates. To manage consistency with other COPAS economic factors, COPAS, upon annual Council approval, will begin publishing automotive rates effective April 1, 2014. The annual rates will be provided at no charge. For January through March 2014, COPAS recommends operators using PMTA rates continue to use the 2013 PMTA rates. For convenience, the 2013 PMTA rates are reprinted here, with permission. For a complete discussion, please refer to COPAS MFI 55.

22 Annual Overhead Adjustment Annual Employee Benefits Rate Upper Limit Annual Audit Per Diem Rate Annual Workers Compensation Insurance Manual Rates Annual Loading & Unloading Rates Annual Used Equipment Percentages


24 Types of COPAS Publication Types MFModel FormsMajority MFMModel Form ModificationsMajority MFIModel Form Interpretation2/3 AGAccounting GuidelinesMajority TRTraining & ReferenceBoard We have KNOWLEDGEABLE members in what COPAS documents say, but the average person can’t quote ‘chapter and verse.’


26 Track the progress of the draft projects by visiting the COPAS website


28 MFI-54 Well Containment Service Provider Costs New safety requirements for deepwater drilling Operators must prove access to one of the two well containment organizations Addresses cost allocation of ownership, member fees and penalties Addresses cost allocation of containment system operating costs

29 AG-29 Allocation of Shared Well Pad Costs New requirements for ‘super’ pads to reduce environmental impact create many previously unencountered cost allocation issues How to allocate costs among all the wells to be drilled on a pad How to allocate costs to modify an existing pad to accommodate more wells What costs are to be shared vs paid for by new or existing wells How to allocate costs of new or replacement equipment at a central battery

30 MFI-35 Chargeability of Training Costs to the Joint Account Update to the 1997 edition To include chargeability of contractor training A table listing chargeable vs. non-chargeable training Expands discussion on training for non-field employees Resolve issues on new types of training (such as behavior-based)

31 MFI-38 Material Pricing Manual Current MFI-38 not changing, however expanding to include all materials-related documents. Comprehensive manual for understanding material transfers, condition percentages, transfer pricing, taxes, loading/unloading costs, etc. Consolidate the numerous materials-related publications into a comprehensive manual Resolve new issues such as critical spares, different pricing mechanisms, premium pricing, etc.

32 MFI-xx Chargeability of Rig-Related Costs (Replacement for AG-25) New requirements and costs for deepwater rigs create clarification of costs which may be billed to non-operators Will address chargeability issues so the existing AG-25 will be rolled into this document and the publication reclassified to an MFI How to allocate costs for rig moves, rig modifications, and dead time How to allocate costs of construction oversight, commissioning, and mobilization How to allocate costs when a rig is shared or loaned to another operation

33 TR-XX Gas Processing Agreements Overview An overview of Gas Processing Agreements for newer professionals and those without exposure or experience with natural gas production, transportation and processing it into residue gas and plant products. The guide will help users better understand terms and provisions in processing agreements, the reasons for certain provisions, and the implications for producers and processors of the different ways agreements can be structured.

34 TR-9 Education Guide Severance Tax Guide, Royalty Incentive Guide Change in Survey Methodology for the Employee Benefits Survey Computerized Equipment Pricing System – encourage greater participation so pricing information is representative Just made changes to how the COPAS Publications CD (now ePublications) is distributed


36 Water as a “Material?” Production Water Fresh Water Recycling Ownership – who owns it? A waste product or not? Compensation – who gets paid for it? Court Cases Audit Rights/Protocol

37 COPAS Update - Future Projects Where do we find project opportunities? Emerging Issues Subcommittees Audit & Revenue Standing Committees Industry Demand Industry Trends

38 Track Project Status: On the Website In each ACCOUNTS

39  Have some energy around participating in one of these current (or future) project teams? Call Tom Wierman (316) 841-7966 Attend a COPAS meeting and volunteer Touch base with a society committee chair


41 Marketing Advisory Program Market COPAS to Industry Leaders Improve our communication on value of membership Increase company support Increase human resource efforts for COPAS projects


43 The COPAS Vision: THE source of business and accounting solutions for the energy industry.

44 C – Cost Effective O – One of a Kind P – Participation A – Accreditation S – Source

45 THE source of business and accounting solutions for the energy industry. S – Sharing O – Opportunity U – United R – Return on Investment C – Continuing Education E – Expertise

46 COPAS Mission: COPAS provides expertise for the Oil and Gas Industry through the development of Model Form Accounting Procedures, Publications, and Education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

47 Strategic Planning - Core Values IntegrityEthicsNetworking ExchangeCollaborationMentor DedicationEducate/TrainTeamwork InnovationResponsiveRespect Intellectual Honesty Credibility

48 Elevator Speech For more than 50 years, COPAS has established itself as the respected and go-to source of business and accounting solutions in the energy industry. It publishes documents that are incorporated into contracts and issues industry-accepted guidelines used by revenue and expense accountants, auditors and managers in their daily job.

49 Volunteer Recognition Company thank you notes/letters Press Releases Face to Face appreciation




53 Changes in Demographics prompts us to be looking for our next leaders Succession planning is part of our goals Steady supply of new professionals entering the Oil and Gas Industry Need to connect the knowledge of the ‘old’ with the inexperience of the ‘new’ Lack of a centralized mechanism to do so

54 Mentoring Program Goals  Better connect newer members to what COPAS is and what we do  Most of us would say we had an early mentor that made a difference  Opportunity to repay  Create new project team and committee volunteers

55 Mentoring Program Goals  Build knowledge and skills, expand and leverage networks  Encourage future leadership  For some mentors, rejuvenate interest in resuming COPAS activities  Put into action something we’ve discussed doing for some time now

56 What will I need to make this successful?


58 COPAS MPACT Energy Education Venture began in 2010 and has grown yearly Standard Joint Interest and Revenue Courses Level 2 Joint Interest and Revenue Courses Operations for the Oil and Gas Accountant Specialized training related to Farm-out, Casing Point, Carried Interests

59 COPAS MPACT Energy Education Gas Balancing 2005 Accounting Procedure New classes added to 2014 Schedule – send a note to to get on a notification

60 Knowing Your COPAS Documents assimilated into COPAS MPACT Developing additional courses Some possible self-study courses Possibly some courses using different delivery platforms Customized classes for employers OR society needs Open to ideas or suggestions of course material for any length of time


62 ACCOUNTS ◦ Winter issue mailed in early December ◦ Feature Articles on  Coil Tubing  Thoughts about when a family might need a CFO  Texas UL submission ◦ Regular features ◦ New advertising opportunities NEXT DEADLINE IS JANUARY 24

63 COPAS EXTRA! ◦ The less formal publication ◦ Used to distribute information in a more timely manner than the formal print magazine ◦ Some information on the ‘lighter side’ ◦ Will be working on another issue soon

64 Communication ◦ Developed a newsletter directed to society leadership ◦ An opportunity for me and my staff to communicate with society leaders about important events, information we need to collect, procedures, reminders, etc. ◦ From the Field Reports – what are other societies doing for service projects, fun activities, membership enhancement, etc.

65 Social media will be a tool we use to get the message out We don’t communicate the same way today Learning styles are different Points of reference are different



68 Are you following us on


70 Important Changes Coming Downloadable electronic Zip File Same functionality Receive & pay invoice Receive link & download/extract files Enterprise licensees will continue to receive a CD.



73  CEPS Subscriber Changes coming ◦ Renewals being sent out now ◦ New technical support provider ◦ No substantive changes, just how we manage the access to the product

74 Office Supply Discount Program ◦ Anyone in the organization can use this program ◦ Must present a program card at time of purchase ◦ Retail store or online purchasing options ◦ Discounts good on paper, inks & toners, office supplies, cleaning supplies, break room items, printing, binding and finishing ◦ COPAS does acquire some nominal benefits too



77 Member Services Car Rentals – group rates ◦ Anyone in the organization can use these discounts ◦ Group numbers have been published in COPAS EXTRA! and ACCOUNTS ◦ More details at member benefits link under Quick Links

78 Member Services Shortly you’ll hear about additional member benefit offerings It “pays” to be a member


80 There are many, many resources on the website for you to consider Member Directory Economic Factors, ‘Calculators,’ and Tools Discussion Forum Access to electronic issues of ACCOUNTS, EXTRA! and Communication Follow the progress of draft publications, project calendar Register for meetings Member benefit summary


82 Current Relationships

83 Increasing Presence at Industry Events & Society Meetings ◦ NAPAC ◦ Society Education Days ◦ Natural Gas Conference (Pennsylvania) ◦ PDI Royalty Accounting Conference ◦ Oklahoma State Oil & Gas Accounting Conference ◦ AICPA Oil & Gas Accounting Conference ◦ Federal & Indian Compliance Workshop ◦ Oklahoma Society of CPAs ◦ Anywhere we think we can have an impact

84 2012 – 2013 Society Visits Kansas – September 11Dallas – February 14 Colorado – September 12New Mexico – February 21 Anchorage – November 7Wichita Falls – March 14 Tulsa – November 13San Juan Basin – March 19 Canada– November 21Michigan – April 18 Permian Basin – November 27Rocky Mountain – May 15 Abilene – January 9Oklahoma City – May 21 San Antonio – January 15Mississippi – May 29 Corpus Christi – January 22

85 2013-2014 Society Visits Fort Worth – September 9 Houston– November 21 New Orleans – January 15 California – February 19 Tulsa – March 11 Michigan – April 17

86  Winter 2014 Audit, Joint Interest and Emerging Issues Committee Meeting  Doubletree @ Intercontinental Airport  Thursday, January 30  9 a.m. to 4 p.m.  Registration open  $90 registration fee  Agenda on the home page

87 Spring, 2014 Glendale, Arizona Renaissance Glendale April 21 - 25

88 Fall 2014

89 Fort Worth April 20 – 24, 2015 Hilton Hotel Downtown New Mexico October 18 – 22, 2015 Embassy Suites Albuquerque, NM

90 Oklahoma City April, 2016 California September, 2016

91 Ark-La-Tex and Houston April, 2017 Colorado October, 2017

92 Call us if we can help: (303) 300-1131 or 877-99COPAS (992-6727)  Register for an event  Process an order for you  Assist you with your member access on the website  Help you change contact information

93 We work for you Tom Cheri Anita

94 You’re probably already ‘collecting’ by Attending society meetings Using COPAS products such as Economic Factors Attend committee meetings whenever possible, learn the issues, and participate Take advantage of the CPE and Training opportunities – inexpensively priced Meet people – expand your knowledge network Study COPAS documents for your focus area

95 Use other tools available on the COPAS website Use ACCOUNTS, COPAS EXTRA! Attend COPAS meetings Volunteer for something recruit a new member help at Education Day suggest a speaker or topic of interest to present at society or committee meetings be an active committee member serve in a leadership role


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