By - Jon Brown

Midstream Accounting
May 13, 2021 | Online :: Central Time

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Overview

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Midstream Oil & Gas Contracts, May 12, 2021 

Join EUCI for a 1-day fundamentals course on midstream accounting:  Gas processing, NGL fractionation, oil, and the transportation of these products will be covered. This course is designed for Midstream Professionals who desire an understanding of the issues faced in accounting for gas plants, NGL liquids fractionation and oil transportation. This primary focus of this class will be on gas, gas processing, natural gas liquids and condensate.

Topics covered in this course will include gas plant gathering and processing operations, fractionator operations, measurement issues of gas and NGLs including 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) will also be covered. After completing this 1-day course, attendees will be better prepared to apply both the basic and the deeper issues of midstream accounting.

Learning Outcomes

  • 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

Credits

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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 0.6 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.

Who Should Attend

Accountants, managers, directors, book keepers, administrators 

Agenda

Thursday, May 13, 2021 : Central Time

8:30 a.m. – 9:00 a.m. :: Login and Welcome

9:00 a.m. – 4:00 p.m. :: Course Timing

12:00 p.m. – 12:30 p.m. :: Lunch Break


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

Instructor

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 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. 

Dan Hodgson, CPA

  • 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

Online Delivery

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.

Register

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 registrants for three business days after the event

Event Standard RateAttendees
Single Connection - Midstream AccountingUS $ 795.00
Pack of 5 connectionsUS $ 3,180.00
Pack of 10 ConnectionsUS $ 5,565.00
Pack of 20 ConnectionsUS $ 9,540.00
Call us at 303.770.8800 if you have any specific questions on the volume discounts
* all other discounts do not apply to license packs

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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 09, 2021 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

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