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Accounting Guidelines -AGs

Provides a guide to an equitable basis for determination of values to be used with well cost adjustments required as a result of ownership changes occurring as a result of expansion or contraction of a unit, recompletion of a well, multiple completions, completion of a well in a zone of different ownership, or creation of a field wide or reservoir unit. 27 pages. Revised April 2003.

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AG-1 Well Costs Alloc and Adjust.pdf

AG-1 Well Costs Alloc and Adjust.pdf

This publication results from a joint project of COPAS and the Institute of Internal Auditors.  It goes beyond the normal financial and operational review and offers guidelines for the investigation of irregularities to safeguard company assets.   29 pages. Pub. 1990.

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AG-10 Investigations of Suspected Irregularities.pdf

AG-10 Investigations of Suspected Irregularities.pdf

This publication results from a joint project of COPAS and the Institute of Internal Auditors, and provides guidelines in conducting an operating review of a company's exploration and production Divisions.  These divisions represent the heart of an oil and gas company and are normally where the major dollars are expended.  Internal reviews of such divisions, as well as those of the billing and payable functions can detect internal control weaknesses and can result in savings of significant dollars.  24 pages. Pub. 1990.

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AG-11 Internal Review EandP Div.pdf

AG-11 Internal Review EandP Div.pdf

Exploration and Production Companies are required to report finding / acquisition costs in accordance with Statement of Financial Accounting Standards (SFAS 69) and in form 10K. However, few companies use these standards for computing these costs for internal purposes. This publication explains the various other methods and their applicability to certain situations. 23 pages. 2011.

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AG-12 Finding Acquisition Costs.pdf

AG-12 Finding Acquisition Costs.pdf

Joint development of oil and gas properties can be conducted under a number of different types of agreements. This Accounting Guideline explains three of these types of agreements and identifies unusual or unique contractural provisions found in each of these arrangements.

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AG-13 Farmouts Farmins Net Profit.pdf

AG-13 Farmouts Farmins Net Profit.pdf

This is a must have document for anyone involved in natural gas accounting.  The purpose of the Gas Accounting Manual is to provide a vital reference for any accountant and others responsible for proper recording and reporting of natural gas from the wellhead to the point of sale and all related areas.   Various areas addressed by AG-15 include production, measurement, processing, transportation, sales, settlements, regulatory compliance as well as a history of regulatory compliance. 314 pages.  2010.

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AG-15 Gas Accounting Manual.pdf

AG-15 Gas Accounting Manual.pdf

Gas plant audits are among the most challenging, important and productive reviews an audit staff can perform. Plant designs and operating modes vary in the industry and require many different types of contractual relationships. This document will aid in performing these audits.  19 pages. 1995.

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AG-16 Internal Audit of Gas Plant.pdf

AG-16 Internal Audit of Gas Plant.pdf

This document establishes guidelines on how exchange companies should provide one another with information required to efficiently account for and reconcile exchange transactions. This serves as an information resource and establishes recommended accounting practices and procedures for petroleum product exchanges.  47 Pages.  1996.

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AG-17 Refining and Marketing.pdf

AG-17 Refining and Marketing.pdf

This guideline provides formulas useful in determining revenue variances including the following basic formulas: Price Variance = (New Price - Base Price) x New Volume Volume Variance = (New Volume - Base Volume) x Base Price

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AG-18 Revenue Variance Analysis.pdf

AG-18 Revenue Variance Analysis.pdf

A comprehensive guide to the suggested protocol and the planning, initiating and arranging the audit, conducting the audit from commencement to close, writing the report, handling of the audit costs, as well as the operator's role in each phase of the audit.  The Audit Protocol section includes points to consider regarding the various parties' roles in initiating and preparing for the audit, conducting the audit, and audit resolution.  The Procedure Guidelines portion includes guidelines regarding the establishment of audit scope, preliminary audit wor

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AG-19 Expenditure Audit Protocols.pdf

AG-19 Expenditure Audit Protocols.pdf

AG-2 explains different forms of unitizations common in the industry and outlines the accounting generally associated with each. AG-2 can be used as a guide for accounting situations involved in Unit Operations which are not covered in an existing agreement or accounting procedure.  34 pages. Pub. 1971

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AG-2 Unitizations Accounting.pdf

AG-2 Unitizations Accounting.pdf

This publication is recommended as a guide in accounting for the allocation of sales and use tax charges/credits resulting from audits by governmental or regulatory agencies utilizing extrapolation procedures.  Government sales and use tax audits frequently use sampling and extrapolation techniques in lieu of auditing an entire population of invoices.

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AG-20 Sales and Use Tax.pdf

AG-20 Sales and Use Tax.pdf

This is the companion document to the AG-19, Expenditure Audits in the Petroleum Industry: Protocol and Procedures Guidelines and addresses protocol and procedures for revenue audits.  Revenue audits are not specifically addressed in existing COPAS Accounting Procedures, except in the 2005 Model Form as relating to payout audits.  The only mention of revenues in most joint venture contracts is in the provision of the Oerating Agreement relating to the right to take production in-kind, or in a gas balancing agreement associated with the Joint Opera

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AG-21 Revenue Audit Protocols.pdf

AG-21 Revenue Audit Protocols.pdf

This document provides an historical perspective on the reasons for gas imbalances and recommends guidelines necessary to properly identify, reconcile, report, and resolve imbalances among producers. This report was issued in conjunction with the efforts of the INGAA/COPAS/A.G.A. Joint Task Force related to spot and direct gas sales.  111 pages.  2001.

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AG-22 Producer Gas Imbalances.pdf

AG-22 Producer Gas Imbalances.pdf

This publication provides guidance on developing an overhead rate, including what questions to consider, which functions or cost categories to include in the rate and how to negotiate that rate with the other working interest owners.  40 Pages. 2001.

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AG-23 Overhead Negotiation and Calculation.pdf

AG-23 Overhead Negotiation and Calculation.pdf

This document provides guidelines on how to use the Authorization for Expenditure (AFE) approval process or other project proposal process to secure Non-Operator approval to directly charge the Joint Account for costs or services that in the absence of such approval may be considered as covered by Overhead pursuant to the governing Accounting Procedure and/or Operating Agreement.  4 pages. 2001.

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AG-24 Acctng Proc Deviations.pdf

AG-24 Acctng Proc Deviations.pdf

This document serves as a reference for operators who utilize remote advanced technology for drilling and completion operations. It is recommended as a guide in (1) identifying accounting treatment options related to those costs, (2) options for securing approvals, if needed, from Non-Operators to pass on costs to the joint account, (3) analysis of the functions and cost components in order to develop an allocation basis, and (4) examples on how costs can be allocated to the properties served. 21 pages.  2008.

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AG-28 Real Time Operations Centers for Drilling and Completion Activities.pdf

AG-28 Real Time Operations Centers for Drilling and Completion Activities.pdf

This publication discusses the types of costs associated with well pads that are shared by multiple wells and the concepts that should be considered when allocating those costs. The narrative includes the impact of the 24-month adjustment period, as well as aids in determining which costs should be shared with all wells or subset of wells on the pad vs. costs that are well specific and should not be shared. Allocation examples are provided to illustrate the application of the concepts discussed. 14 pages.  2013.

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AG-29 Shared Well Pad Cost Allocations.pdf

AG-29 Shared Well Pad Cost Allocations.pdf

The State of Alaska Net Profit Share Lease (NPSL) System is an integral part of the seven leasing methods currently provided for by state law. This monograph explains the provisions and provides guidance for companies working with this form of royalty. 62 pages. 1984.

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AG-3 Alaska Net Profit Share Leasing.pdf

AG-3 Alaska Net Profit Share Leasing.pdf

This publication presents a methodology for calculating rates for use of operator owned equipment and facilities charged to the Joint Account.  It also suggests possible agreement language to be used. 35 pages. 1985.

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AG-4 Proforma Facility Rate Agreement.pdf

AG-4 Proforma Facility Rate Agreement.pdf

This is COPAS' comprehensive guide to accounting for oil, and complements AG-15, Gas Accounting Manual.  This publication provides generally accepted practices for oil allocations and related revenue accounting.  It is intended to be of assistance to accountants and oil producers in establishing or revising oil accounting procedures and in training new personnel.  104 pages. Rev. October 2012

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AG-6 Oil Accounting Manual.pdf

AG-6 Oil Accounting Manual.pdf

This is a second addendum to the AG-8 Joint Task Force Guidelines on natural Gas Administrative Issues.

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AG-8_AD-2.pdf

AG-8_AD-2.pdf

Addendum 3 to the AG-8 Joint Task Force Guidelines on Natural Gas Administrative Issues.

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AG-8_AD-3_.pdf

AG-8_AD-3_.pdf

Developed by the COPAS/INGAA/A.G.A.

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AG- 8 Gas Admin Issues.pdf

AG- 8 Gas Admin Issues.pdf
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