Midstream Accounting

January 19, 2023 | Online :: Central Time

0123-midstream-accounting

Join EUCI for a 1-day fundamentals course on midstream accounting – gas plant gathering and processing operations, fractionator operations, and measurement issues of gas and NGLs. 

This course is designed for Midstream Professionals who desire an understanding of the issues faced in accounting for gas plants, NGL liquids transportation and fractionation and oil transportation and will provide attendees a deeper understanding of:

• Component balancing of systems
• Gas gathering and processing
• Allocation and contract settlement (as seen from the viewpoint of both processor and upstream E&P accounting)

Your whole team can attend at a discounted rate and learn not only the basics of midstream accounting but also the deeper issues affecting this vital function.

Learning Outcomes

• Review the challenges of accounting for midstream and where we can make improvements
• Discuss the basics of midstream – gathering, treating, compressing, delivery
• Review the basic operations of the gathering, processing and transportation of natural gas, NGL fractionation and oil transportation
• Identify the fundamentals of gas measurement, liquid measurement and system component balancing including a look at the basics of hydrocarbon structure and characteristics
• Discuss allocation essentials and accounting of gas gathering & processing and the different types of contracts involved in gathering and processing
• Review basic economic analysis of processing through a gas plant or fractionator
• Discuss deeper aspects of measurement and of the use of systems

Thursday, January 19, 2023 : Central Time

Basics of Midstream – Gathering, Treating, Compressing and Delivery

• The Balancing Act of Midstream – Capacity
  • Production in (Supply of Product) – Processing – Transportation – End-User Demand
• Why Process the Gas?
  • Oil Well
  • Gas Well
• The Basics of Hydrocarbon Molecules and their End Products – Natural Gas, NGLs (Methane, Ethane, etc.), LNG, LPG, Condensate, Crude Oil  
• The Basics of Measurement of Hydrocarbons – Gas and Liquid – Volume and Analysis
• Following the flow of the Molecules for Gas Gathering, Treating and Processing, and delivery of Residue Gas and Natural Gas Liquids through Fractionation
• Component Balancing – Keeping Track of the Flow of Molecules for Gains and Losses and for Ownership
• Q&A

Basic Allocation and Accounting of Gas Gathered, Processed, Purchased and Sold

• Types of Contracts – Purchase or Process – As viewed by the Processor and by the Producer
  • Percent of Proceeds/Production
  • Gathering/Processing – Fee
  • Fixed Recovery/Fuel
  • Wellhead MMBtu
  • TIK – Take in Kind
• Allocations – Application of Simple Math
  • Basics of Allocations
  • Choice of Allocation Basis
  • NGLs, Fuel, Lost and Unaccounted, Residue
  • Condensate/Drip Liquids
  • Other Charges
• Basic Economic Analysis of Processing through a Gas Plant or Fractionator
  • Frac Spread
  • Margin Reports
• Deeper Aspects of Measurement and the Use of Systems

Final Q&A

Dan Hodgson, CPA, Accounting Manager, Stakeholder Midstream, LLC

Dan Hodgson is the Accounting Manager for Stakeholder Midstream, LLC., a midstream oil and gas company that provides in-field natural gas gathering, compression, treating, and processing services in the United States. Dan currently focuses on accounting and analysis for oil and gas midstream processing, treating and transmission.

Mr. Hodgson also currently serving on the COPAS APA Board of Examiners and serves as the Chair of the COPAS Midstream/Downstream Subcommittee. Dan Hodgson works to assist management in making significant sound decisions and to raise the standard of Gas Plant and NGL accounting by leading and passing on knowledge and understanding. 

• BBA Accounting – University of Houston
• MS Accountancy – University of Houston Clear Lake
• Texas Licensed CPA
• COPAS – Accredited Petroleum Accountant
• COPAS – Current Chair of the Midstream/Downstream Sub Committee
• COPAS – Currently Vice-Chair of Board of Examiners for Accredited Petroleum Account Program
• 35+ Year Experience with Midstream Accounting

We will be using Microsoft Teams to facilitate your participation in the upcoming event. You do not need to have an existing Teams account in order to participate in the broadcast – the course will play in your browser and you will have the option of using a microphone to speak with the room and ask questions, or type any questions in via the chat window and our on-site representative will relay your question to the instructor.

• IMPORTANT NOTE: After November 30 you will not be able to join a Teams meeting using Internet Explorer 11. Microsoft recommends downloading and installing the Teams app if possible. You may also use the Edge browser or Chrome.
• You will receive a meeting invitation will include a link to join the meeting.
• Separate meeting invitations will be sent for the morning and afternoon sessions of the course.
  • You will need to join the appropriate meeting at the appropriate time.
• If you are using a microphone, please ensure that it is muted until such time as you need to ask a question.
• The remote meeting connection will be open approximately 30 minutes before the start of the course. We encourage you to connect as early as possible in case you experience any unforeseen problems.

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

Midstream Accounting

January 19, 2023 | Online

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before December 16, 2022 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Credits

EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 0.7 CEUs for this course.

Instructional Methods

PowerPoint, Lecture, Discussion, Q&A

Requirements for Successful Completion of Program

Participants must log in each day and be in attendance for the entirety of the course to be eligible for continuing education credit.

---

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 7.5
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Methood: Group-Live
Advanced Preperation: None

EUCI 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. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

 

 

Who Should Attend

Accountants, managers, directors, bookkeepers, administrators