Gas Plant (Basic): 3/20-21/2023 (pm/am)

Gas Plant Accounting – Basic & Advanced Topics


When: Tuesday, March 21 8:30-4:30 CDT and Wednesday, March 22 8:30-12:30 CDT
Where: On your computer or tablet, wherever you have a good internet connection
Cost:    $429 per participant, including class materials
Program Level: Basic to Intermediate
Delivery Method: Group Live Internet, Interactive
Prerequisites: None, but some knowledge of Revenue Accounting and Gas Plant processes is helpful
CPE Awarded: 12 hrs.
Area of Study: Accounting
Pre-Class Preparation: Having a calculator handy is helpful
 
Who Should Attend:
•    Revenue Accountants
•    Production Accountants
•    Gas Sales Accountants
•    New or experienced employees
•    Who work for or service producers involved in the production of natural gas
•    Who review gas plant operations
•    Who need to account for the money and audit gas plant revenue via netback pricing
•    Who financially evaluate gas plants for acquisition or divestiture
•    Who are involved with the sale of natural gas and plant products
•    Who work for regulatory agencies that monitor gas plant transactions
•    Who need to compare volumes with revenue derived from Gas Plants
 
Key topics:
•    Why gas is processed - NGL product value versus gas value, Gas Cleanup
•    How gas is processed – Gas plant processing from adsorption to cryogenic plants
•    Gas Plant Allocations
o    Calculation of theoretical NGL volumes based on product GPM
o    Calculation of theoretical residue gas remaining
o    Allocation of NGL’s and residue gas based on theoretical volumes
•    Gas plant Purchase and Processing Agreements
•    Examples and Interactive Class problems
o    allocation of residue gas produced volumes
o    allocation of fuel
o    allocation of lease use gas
o    allocation of residue gas sales
•    Keep-whole arrangement accounting issues
•    Producer settlement statements & accounting for plant receipts
•    Processing ONRR and Indian gas
•    Processing deductions for plants owned by gas producer
•    Prices used for NGL and residue gas settlement
•    Sales to related parties
•    Exchange agreements
•    Overstatement of volumes from other leases
•    Understatement of volumes from your lease
•    Phantom leases

Upon Completion Participants should be able to:
•    Perform Gas Plant Allocations including testing for allocation errors
•    Interpret and implement Gas Plant Purchase and Processing Agreements
•    Perform accurate and complete gas plant accounting entries
•    Determine if royalties and revenues were properly paid
•    Calculate netback pricing for the various plant product
•    Follow a procedure designed to facilitate future gas plant audits

Case Studies
A.    Concentrates on the allocation of NGL products based on plant theoretical volumes. Allocation of residue gas is simplified to allow participants to concentrate on product allocations
B.     Concentrates on the allocation of residue gas on both a Mcf and Btu basis. The allocation of plant NGLs simplified to allow participants to focus on residue gas allocations

CPE & the Fine Print, Refunds and Cancellations: Requests for refunds must be received in writing two weeks prior to the program data and will be subject to a cancellation fee. No refunds will be granted after this 2-week period, but substitutes are allowed. For more information regarding refund, complaint, and/or program cancellation policies please contact our offices at 940.783.7270.   If you need CPE credit you can receive it for our virtual live programs EXCEPT IN NEW YORK and KANSAS! If you live in one of those states, please check with your state CPA society.      UNT DSI-PDX is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Concerns regarding registered sponsors may be addressed to the National Registry of CPE Sponsors.  www.nasbaregistry.org