COPAS Update - COPAS Of New Orleans

Report
Petroleum Accountants Society of New Orleans
January 15, 2014
Tom Wierman, Executive Director
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
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
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
Just over 4,000 members
Thank you for your contributions to the industry
Employers – THANK YOU for supporting the
important work of COPAS
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Five Largest Societies
Colorado – 987
Houston – 542
Oklahoma City - 430
Fort Worth – 310
Dallas - 309
But remember, in COPAS, everyone is equal
Inaugural Education Day event in San
Antonio
Four Hours CPE - Reasonably priced
April 23 – Glendale (Spring 2014)
“Contracts, Contracts, Contracts”
We certainly can’t live without them, so let’s
learn to better live with them!
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Pre-Drilling Agreements
The Oil and Gas Lease
JOA Provisions and Exhibits
JOA Pitfalls and problem areas
Initiative to increase CPE opportunities
NASBA Discussion
Work with Committee Chairs on
agendas
Publish meeting agendas with CPE
hours
Pre-packaged CPE
• Qualifying presentation
• Leader guide
• Discussion questions
• Available to ‘fill in’ for
no-show presenters
• Beta Test – Education
Committee (Fall 2013)
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
Initiating a program review
Job Analysis Request for Proposal
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Literature Review
Data Gathering
Framework/Tasks & Knowledge
Focus Groups
Content, Format, Layout
Pretest/Pilot with SMEs
Surveys
Data Analysis
Focus Groups
Job Analysis vendor selection by end of
January
Stay Tuned
Not anticipating sweeping changes in the very
near future, changes will take several months
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
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
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.
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
MF
MFM
MFI
AG
TR
Model Forms
Model Form Modifications
Model Form Interpretation
Accounting Guidelines
Training & Reference
Majority
Majority
2/3
Majority
Board
We have KNOWLEDGEABLE members in
what COPAS documents say, but the average
person can’t quote ‘chapter and verse.’
Track the progress of the draft projects by visiting
the COPAS website www.copas.org
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
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
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)
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.
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
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.
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
Water as a “Material?”
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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
Where do we find project
opportunities?
Emerging Issues Subcommittees
Audit & Revenue Standing Committees
Industry Demand
Industry Trends
Track Project Status:
On the Website
In each ACCOUNTS
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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
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
The COPAS Vision:
THE source of business and accounting
solutions for the energy industry.
C – Cost Effective
O – One of a Kind
P – Participation
A – Accreditation
S – Source
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
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.
Strategic Planning - Core Values
Integrity
Ethics
Networking
Exchange
Collaboration Mentor
Dedication
Educate/Train Teamwork
Innovation
Responsive
Respect
Intellectual Honesty
Credibility
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.
Volunteer Recognition
Company thank you notes/letters
Press Releases
Face to Face appreciation
COPAS benefits
YOU
YOUR COMPANY
THE INDUSTRY
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
Mentoring Program Goals
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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
Mentoring Program Goals
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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
What will I need to make this
successful?
COPAS MPACT Energy Education
www.copasmpact.com
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
COPAS MPACT Energy Education
www.copasmpact.com
Gas Balancing
2005 Accounting Procedure
New classes added to 2014 Schedule – send a
note to [email protected] to get on a
notification list
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
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
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
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.
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
Are you following us on
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.
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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
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
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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 www.copas.org member
benefits link under Quick Links section
Member Services
Shortly you’ll hear about additional member
benefit offerings
It “pays” to be a member
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
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Current
Relationships
Increasing Presence at Industry Events &
Society Meetings
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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
2012 – 2013 Society Visits
Kansas – September 11
Colorado – September 12
Anchorage – November 7
Tulsa – November 13
Canada– November 21
Permian Basin – November 27
Abilene – January 9
San Antonio – January 15
Corpus Christi – January 22
Dallas – February 14
New Mexico – February 21
Wichita Falls – March 14
San Juan Basin – March 19
Michigan – April 18
Rocky Mountain – May 15
Oklahoma City – May 21
Mississippi – May 29
2013-2014 Society Visits
Fort Worth – September 9
Houston– November 21
New Orleans – January 15
California – February 19
Tulsa – March 11
Michigan – April 17
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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
Spring, 2014
Glendale, Arizona
Renaissance
Glendale
April 21 - 25
Fall 2014
Fort Worth
April 20 – 24, 2015
Hilton Hotel Downtown
New Mexico
October 18 – 22, 2015
Embassy Suites
Albuquerque, NM
Oklahoma City
April, 2016
California
September, 2016
Ark-La-Tex and Houston
April, 2017
Colorado
October, 2017
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
We work for you
Tom
Cheri
Anita
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
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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