Description
Course Content
This course covers the following topics:
- Overview of Payout Accounting
- Payout Terminology
- Concepts
- Circumstances Resulting in Payout Calculations
- Contracts, Well Cards and Other Source Documents
- Payout Situations
- Basic JOA Payout Language
- Evaluate Oil and Gas Documents to find necessary Payout
- Information
- Components of a Payout Calculation
- Essential Data to track Payout
- Calculate NRI
- Expense Categories for Penalties
- Distribution Procedures
- Calculate Payout
- Analyze Oil and Gas Documents
- Example Agreements
Learning Objectives
Upon completion of this course, you will be able to:
- Explain Payout and differentiate circumstances that need a Payout calculation
- Summarize the impact Payout accounting has on stakeholders
- Demonstrate knowledge of basic agreements and ownership impacts
- Apply payout concepts to an actual agreement and setup Payout for a test case
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