Advance Preparation: None

Program Level: Intermediate to Advanced

Delivery Method: Group Live, Group Internet Based Field of Study:   Accounting

Upon Completion of this Program Participants will be able to:

·         Perform Complex Gas Plant Allocations

·         Interpret at a more advanced level and implement Gas Plant Purchase and Processing Agreements

·         Understand how Allocations affect the royalty payments

·         Reconcile Gas Plant statements to Allocations

·         Determine causes and effects of Volume variances

·         Determine causes and effects of Price variances

·         Have the fundamentals to develop a procedure for determining allocation errors

·         Determine the effect of “Phantom” leases

Key Topics Covered:

·         Prices used for NGL and residue gas settlement

·         Sales to related parties

·         Exchange agreements

·         Purchase and resale agreements

·         Volumes of NGLs and residue gas allocated to leases

·         Overstatement of volumes from other leases

·         Understatement of volumes from your lease

·         Phantom leases

·         How to test for allocation errors