skip to Main Content

MFI-5 1976 Offshore Model Form Accounting Procedure Interpretation

This document provides recommendations to aid in the interpretation and application of the 1976 Offshore Model Form so there can be a common ground of understanding in negotiations.  Users will read detailed recommendations and explanations for four major sections of the accounting procedure:  General Provisions, Direct Charges, Overhead, and Pricing of Joint Account Material Purchases, Transfers and Dispositions.   25 pages. Pub. 1977

$200.00

Members receive 20% off webinars and 50% off publications

MFI-5 1976 Offshore Model Form Accounting Procedure Interpretation

Description

Table of Contents

  1. SPECIMEN, FORM 606 COPAS – 1976
  2. INTERPRETATIVE SECTION
  3. GENERAL PROVISIONS
    1. Definitions
    2. Statement and Billings
    3. Advances and Payments by Non-Operators
    4. Adjustments
    5. Audits
    6. Approval by Non-Operators
  4. DIRECT CHARGES
    1. Lease Rentals and Royalties
    2. Labor
    3. Employee Benefits
    4. Material
    5. Transportation
    6. Services
    7. Equipment and Facilities Furnished by Operator
    8. Damages and Losses to Joint Property
    9. Legal Expense
    10. Taxes
    11. Insurance
    12. Communications
    13. Ecological and Environmental
    14. Other Expenditures
  5. OVERHEAD
    1. Overhead – Drilling and Producing Operations
    2. Overhead – Major Construction
    3. Overhead – Catastrophe
    4. Amendment of Rates
  6. PRICING OF JOINT ACCOUNT MATERIAL PURCHASES, TRANSFERS AND DISPOSITIONS
    1. Purchases
    2. Transfers and Dispositions
    3. Premium Prices
    4. Warranty of Material Furnished by Operator
  7. INVENTORIES

COPAS POLICIES: Complaints | Cancellation & Refund Policy

Additional information

Weight 4.0000000035274 oz
Dimensions 11 × 8.5 × 0.025 in
Format

Digital, Printed

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
Get Updates

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

Back To Top
Search