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Used-Equipment Percentages
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Used-Equipment Percentages

Used equipment transferred between properties with different ownership or between a property and a warehouse, is valued at a percentage of the current new prices times the condition value. While most COPAS Model Form Accounting Procedures (APs) provide for a fixed percentage that corresponds to the condition of the equipment, the 1995 and Project Team APs have an option for used material to be priced at the “percentage most recently recommended by COPAS.” For this reason, COPAS conducts an annual survey to determine the used-equipment percentages that are effective January 1 of the applicable year.

* B Condition material is charged at 75% of current new price. B condition material is credited at 75% of current new price if the material was new when it was charged to the property, or at 65% if the material was used when it was charged to the property. C condition material is always charged and credited at 50% of current market value, subject to certain provisions concerning reconditioning costs.

Tubular Pricing Updates and HPMs

The posting of HPMs (Historical Price Multipliers) as well as tubular pricing updates on this website was suspended in January 2007. The HPMs developed for 2007 and thereafter are designed to work only with the new web-based CEPS product. Annual subscriptions to CEPS are available from our On-line Store & Publications.

Testimonials

Networking is so important. It will help with your job and career, and you will gain knowledge you can’t get sitting at a desk. The people in COPAS have mentored me, answered questions for me, and genuinely cared about me and my family.

Melissa Gruenewald
Rating: 5

COPAS has great learning opportunities, leadership opportunities, and ways to develop relationships with other accountants and oil and gas professionals. You will work hard when you get involved, but the experiences, people and benefits will be worth it.

Melissa Gruenewald
Rating: 5

For anyone searching for energy knowledge, professional industry contacts, peers with whom to discuss similar dilemmas, and access to energy experts—COPAS is the place to be!

Carolyn Sczepanski
Rating: 5
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OUR 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.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

OUR 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.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

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