By - Jon Brown

Midstream Accounting
May 22, 2019 | Denver, CO

Download PDF
 

Overview

Join our expert instructor, Alfonso Colombano, for a 1-day fundamentals course on midstream accounting. Master limited partnerships, NGL fractionation accounting, and pipeline accounting will all be covered, in-depth. This course is designed for midstream professionals who desire an understanding of the issues faced in oil & gas accounting and best practices used by oil & gas accounting professionals. 

Topics covered in this course will range from FERC and non-FERC accounting, revenue accounting, the billing process, and income statements. Questions such as, why are MLPs important, what is a fractionator, and how is gas gathering and processing accounting similar to upstream accounting will be answered in full. After completing this 1-day course, Attendees will be ready to apply what they have learned immediately upon returning to work.

Share

Learning Outcomes

  • Discuss what Master Limited Partnerships (MLPs) are, why are they formed and why an investor would consider a MLP
  • Review why pipelines are builtand the extensive business development process that goes into the successful completion of a pipeline in the United States
  • Identify how pipeline revenue and construction accounting work, impacts of FERC regulation and other accounting implications
  • Discuss how natural gas gathering & processing works, how products are accounted, and the different types of contracts involved in G&P
  • Review how crude oil, natural gas and NGLs are valued, traded and accounted for in supply & trading operations

Credits

AP_Logo

EUCI has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).  In obtaining this accreditation, EUCI has demonstrated that it  complies with the ANSI/IACET Standard which is recognized internationally as a standard of good practice. As a result of their Authorized Provider status, EUCI is authorized to offer IACET CEUs for its programs that qualify under the ANSI/IACET Standard.

EUCI is authorized by IACET to offer 0.8 CEUs for this course and 0.4 CEUs for the workshop.

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

Course CPE Credits: 12.0
There is no prerequisite for this Course.
Program Level: Beginner/Intermediate
Delivery Methood: Group-Live
Advanced Preperation: None

CpeEUCI 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.

Instructional Methods

PowerPoint, Lecture, Discussion, Q&A

Requirements for Successful Completion of Program

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

Agenda

Wednesday, May 22, 2019

8:00 – 8:30 a.m. :: Registration and Continental Breakfast

11:30 a.m. – 12:30 p.m. :: Group Luncheon

8:30 a.m. – 5:00 p.m. :: Course Timing

Morning Session


MLPs

  • What are Master Limited Partnerships?
  • Why are They Important?
  • MLP and Investing Implications
  • U.S. Income Implications

Pipelines

  • Why are Pipelines Built?
  • Pipeline Business Development Process

Pipeline Accounting

  • Phillips Case and Natural Gas Pipeline Regulations
  • Post-deregulation Complexities
  • Acquisition and Construction Costs
  • Operating Costs
  • FERC Accounting
  • Non-FERC Accounting
  • Revenue Accounting
    • Types of Revenue
    • Billing Processes
  • Income Statement

NGL Fractionation Accounting

  • What are Natural Gas Liquids?
    • Uses
    • Main Market and Customers
    • Growth in NGLs
  • What is a Fractionator?
  • Location of Fractionators
  • Accounting for Costs
    • Acquisition
    • Construction
    • Operating
    • Environmental

Revenue Processes

  • Billing
  • Inventory Impacts

Afternoon Session


Gas Gathering and Processing Accounting

  • Introduction to Gas Processing
    • What are Gas Plants?
    • Products Extracted
    • Types of Gas Plants
  • Types of Contracts and Revenue Streams in Gas Gathering & Processing
  • Growth in Gas Processing
  • Similarities with Upstream Revenue Accounting
  • Processes
  • Impacts of Data into Allocations
    • Criticality of Gas Analysis

Crude Oil, Natural Gas and Natural Gas Liquids Trading

  • North American Crude Oil trading
    • Crude Oil Valuation
    • Physical Trading
    • Accounting
  • North American Gas Trading
    • Before Pipeline deregulation of the mid 1980’s
    • Pre-Shale Revolution
    • Post-Shale Revolution
    • Accounting Implications
  • NGL and Market Dynamics
    • Pre-Shale Revolution
    • Post-Shale Revolution
    • Export Market
    • Accounting Implications

Conclusion

  • Questions and Answers

Workshop

Oil & Gas 2019 Tax Workshop

Tuesday, May 21, 2019

Overview

Learn what you need to know about oil & gas tax accounting in this half-day workshop instructed by accounting expert, Alfonso Colombano. Attendees of this workshop will learn about tax issues faced at all stages of oil & gas production: upstream, midstream, and downstream. Topics such as excise and sales tax, duties, property taxes, and inventory, will all be discussed. Complex tax issues around master limited partnerships, depletion, depreciation, and other crucial topics in oil & gas tax accounting will be explained and simplified so that attendees can immediately begin applying what they have learned.

Workshop Agenda

12:30 – 1:00 p.m. :: Registration

1:00  – 5:00 p.m. :: Course Timing


Income Tax

  • Upstream
    • Royalty Trusts
  • Downstream
    • Inventory Impacts
    • Manufacturers Credits
  • Midstream
    • MLP

International Operations & Tax Implications

  • Indirect Taxes
    • Excise Taxes
    • Sales Taxes
  • Other Taxes
    • Duties
    • Property Taxes/Inventory

Instructor

Alfonso Colombano

Alfonso Colombano is the author of the bestseller series of books titled Oil & Gas Company Analysis, which have been used as a teaching tool in the oil & gas industry worldwide. Alfonso has worked for ConocoPhillips, Phillips 66 and Chevron in analytical, commercial & financial roles. Alfonso is a graduate of the University of Houston where he was active in the Energy Association. Alfonso’s expertise encompasses all sectors of the oil & gas industry including upstream, midstream and downstream, which led him to create, write and publish three books on the topic. Mr. Colombano is an avid reader of Forms 10-K and 20-F, financial statements and other external company publications. Alfonso is currently an SAP Financials Consultant working for a large Oil & Gas Company in Houston. Alfonso has published four books so far:

  • Oil & Gas Company Analysis: Upstream, Midstream & Downstream
  • Oil & Gas Company Analysis: Petroleum Refining & Marketing
  • Análisis de Empresas de Petróleo y Gas: Upstream, Midstream y Downstream
  • Careers in the Oil & Gas Industry: A Guidebook of Practical Advice

Mr. Colombano is currently working with a co-author on an upcoming book on International Oil & Gas Accounting, to be published later this year.

Alfonso’s expertise encompasses the financial & operational analysis of oil & gas companies, having developed several analytical models for M&A activity and commercial analysis.  Alfonso is a well-seasoned public speaker and has been featured at the University of Houston and the Global Energy Leaders Podcast. Alfonso is co-host with Ryan Ray on theEnergy Market Recap Podcast. He enjoys reading books about the oil & gas industry and playing golf in his free time.

Additional Background:

  • Deep  understanding of the upstream, midstream and downstream businesses, having worked as a financial analyst for a Commercial G&P group in the E&P business as well as a financial analyst for the DCP Midstream JV
  • Strong understanding and application of oil & products value chain, from gathering, terminals, refining and marketing of oil and products from an operations and commercial perspective.
  • Work experience at gas plants and fractionators (exposure to operations, project management & construction). Analysis of Loss Profit Opportunities (LPO’s) as well as gas plant margin analysis (inclusive of high H2S content gas)
  • Commercial gas contract reviews (DCP and Enterprise), reviewed several gas gathering & processing (POP, Fee-based and Keep Whole)

Location

EUCI Office Building Conference Center

4601 DTC Blvd, B-100

Denver CO, 80237

 

Suggested Hotel

Hyatt Place Denver Tech Center
8300 E. Crescent Parkway
Greenwood Village, CO 80111
0.9 miles away
Nightly Rate for EUCI Attendees: $168.00 (Includes hot breakfast and free shuttle to and from EUCI)

Click on the following booking link: Hyatt Place Denver Tech Center – EUCI and use Group Code: EUCI or

Call Central Reservations at 888-492-8847 and ask for the EUCI rate of $168 under the corporate/group code EUCI

Other Nearby Hotels

Hyatt Regency Denver Tech Center
7800 E Tufts Ave
Denver, CO 80237
Phone: 303-779-1234
0.3 miles away

Hilton Garden Inn Denver Tech Center
7675 E Union Ave
Denver, CO 80237
Phone: 303-770-4200
0.6 miles away

Denver Marriott Tech Center
4900 S Syracuse St
Denver, CO 80237
Phone: 303-779-1100
0.7 miles away

Register

Please Note: Confirmed speakers do not need to register and are encouraged to participate in all sessions of the event. If you are a speaker and have any questions please contact our offices at 1.303.770.8800

Event Standard RateAttendees
Midstream AccountingUS $ 995.00

This event has the following workshops:

Oil & Gas 2019 Tax WorkshopUS $ 595.00

This event has the following related events:

Upstream AccountingUS $ 1395.00

Take advantage of these discounts!

  • Attend the Course and Upstream Accounting and 1 workshop and pay US $ 2,595.00 per attendee (save US $ 390.00 each)
  • Attend the Course and Upstream Accounting and 1 workshop and pay US $ 2,790.00 per attendee (save US $ 195.00 each)
  • Attend the Course and workshop and pay US $ 1,395.00 per attendee (save US $ 195.00 each)

Cancellation Policy

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 April 19, 2019 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

By clicking Accept or closing this message, you consent to our cookies on this device in accordance with our cookie policy unless you have disabled them. more information

By clicking Accept or closing this message, you consent to our cookies on this device in accordance with our cookie policy unless you have disabled them. You can change your cookie settings at any time but parts of our site will not function correctly without them. We use cookies during the registration process and to remember member settings.

Close