Operations for the Accounting Department

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=125 BGCOLOR="#0000FF" TEXT="#080000" bgproperties="fixed" background="4e2009e1egayea.jpg"> <div> <A HREF="index.htm" TARGET="_top" TITLE="EDI, LLC "><I><B>EDI, LLC  Energy Education </B></I></A></div> <div> <B> <a href="id21.htm" target="_top" csb-linktype="CSBPage"><img src="HTMLobj-1156/o.jpg" alt="Courses" border="0" align="bottom" csb-maintain-proportions="1" width="100" height="20" csb-button="Cap-Yellow" csb-font="" csb-font-bold="True" csb-font-italic="True" csb-font-strikethrough="False" csb-font-underline="False" csb-font-size="8" csb-font-color-o="986895" csb-font-color-h="0" csb-font-color-p="0" csb-font-horiz="Center" csb-font-verti="Center" csb-font-left="0" csb-font-top="0" csb-img-hover="1" csb-img-press="1" csb-img-preload="0" csb-img-backcolor="16777215" onmouseout="javascript:this.src='HTMLobj-1156/o.jpg'" 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<a href="id21.htm" target="_top" csb-linktype="CSBPage"><img src="HTMLobj-1147/o.jpg" alt="Brochure and Registration Form" border="0" align="bottom" csb-maintain-proportions="0" width="250" height="30" csb-button="Plain-Black" csb-font="" csb-font-bold="True" csb-font-italic="True" csb-font-strikethrough="False" csb-font-underline="False" csb-font-size="10" csb-font-color-o="16777215" csb-font-color-h="0" csb-font-color-p="0" csb-font-horiz="Center" csb-font-verti="Center" csb-font-left="0" csb-font-top="0" csb-img-hover="1" csb-img-press="1" csb-img-preload="0" csb-img-backcolor="986895" onmouseout="javascript:this.src='HTMLobj-1147/o.jpg'" onmouseover="javascript:this.src='HTMLobj-1147/h.jpg'" onmouseup="javascript:this.src='HTMLobj-1147/h.jpg'" onmousedown="javascript:this.src='HTMLobj-1147/p.jpg'"></a>  </div> <div>  Due to numerous requests, we have created this 2 day course for accounting department personnel</div> <div> _______________________________________________________________________________________</div> <div> <U>This excellent cross training course</U> presents the basics of oil and gas operations from the perspective of people working in the accounting departments. Along with detailed discussions of operations subjects such as drilling, completion, production, workovers, also included are the accounting issues that go them. The course then moves into fundamentals of land, leasing, interest calculations (working, royalty, ORRI & division orders), revenue statements, joint interest billings, audits, joint operations agreements and how they affect accounting issues, gas balancing and profit centers.</div> <div> Attendees will learn about the sequence of events in getting a well drilled and who the main people involved are. What is a spud meeting? Who approves invoices? </div> <div> For example, when discussing casing, we talk about the kinds of casing used, their design and then ways to check to see what was run in the well versus what was billed. Are credits needed? Were discounts handled properly? What are some of the 'mistakes' seen in over-billings or improper credits? </div> <div> Participants get to work numerous problems with these major issues including calculations of working interests and royalties in a producing unit. How do you incorporate undivided royalty interests? What are net acres? What about net profits interests? What is an inflated decimal?</div> <div> There is really no other course out there like this one. Not only can accounting personnel (revenue, JIB, accounts payable/receivable, auditing, etc.) learn about both accounting and operations, production people can also benefit by learning what goes on in the accounting department. Why do accounting people have so many deadlines? How can a streamlined invoice process benefit both operations and accounting departments? Why are joint interest audits necessary and how does one conduct them under the JOA?</div> <div> _______________________________________________________________________________________</div> <div> <I><B>Course Objectives</B></I></div> <bR> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">How a well is drilled; the people involved in drilling; designing a well</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">The drilling sequence of events; what has to happen to get a well drilled</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">AFE's; the philosophy of AFE's; the spud meeting</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Horizontal and high angle drilling details</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Ordering services & equipment; invoicing issues; auditing issues</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Cost per foot concept: "save a dime, spend a buck" mentality</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Completing a well; details about acid and frac stimulations; accounting for frac oil & water</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Reading drilling and completion reports</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Production basics; operating costs and statements</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Workovers; facilities (SWD, compressor, etc.); profit/service centers</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Land and leasing basics; lease terms; current practices</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Unitization, spacing and proration; division orders and how they are constructed</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Extensive calculations of working and royalty interests; undivided interests; reversions; net profits</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Joint Operating Agreement section-by-section discussion; accounting procedures described</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Material transfers; proper transfers and the 'tricks' of the trade</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Revenue calculations and statements; adjusting oil and gas prices; price & cost deductions</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Gas balancing; calculations and statements; the value of under production</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Numerous exercises throughout</div> <div> _______________________________________________________________________________________</div> <div> <I><B>About This Course</B></I></div> <div> Included is a workbook of slides, charts, illustrations, exercises, outlines and articles. Attendees find this book makes a good reference long after taking the class. Also included is a <I><B>free software disk</B></I> of Excel templates used in the class </div> <div> _______________________________________________________________________________________</div> <div> <I><B>  </B></I><FONT SIZE="4" COLOR="#FF0000" FACE="Times New Roman" ><I><B>Continuing Education Credits</B></I></FONT></div> <bR> <div> Continuing education credits, CPE, CPL., etc., have been granted for our courses by most states. Please call about your particular professional educational credits.</div> <bR> <div> Download our latest brochure showing dates and registration form:</div> <bR> <div>  <a href="id21.htm" target="_top" csb-linktype="CSBPage"><img src="HTMLobj-1148/o.jpg" alt="Brochure and Registration Form" border="0" align="bottom" csb-maintain-proportions="0" width="250" height="30" csb-button="Plain-Black" csb-font="" csb-font-bold="True" csb-font-italic="True" csb-font-strikethrough="False" csb-font-underline="False" csb-font-size="10" csb-font-color-o="16777215" csb-font-color-h="0" csb-font-color-p="0" csb-font-horiz="Center" csb-font-verti="Center" csb-font-left="0" csb-font-top="0" csb-img-hover="1" csb-img-press="1" csb-img-preload="0" csb-img-backcolor="986895" onmouseout="javascript:this.src='HTMLobj-1148/o.jpg'" onmouseover="javascript:this.src='HTMLobj-1148/h.jpg'" onmouseup="javascript:this.src='HTMLobj-1148/h.jpg'" onmousedown="javascript:this.src='HTMLobj-1148/p.jpg'"></a>  </div> <bR> <div>           </div> <bR> <bR> <bR> </td> </tr></table></body>