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Events Calendar

September 10, 2014

PASC Board of Directors Meeting (2 of 11)
September 2014/15 Strategic Planning Meeting
Event Starts: September 10, 2014
Time: 10:00am - 3:00pm
Location: Associations Plus (400, 1040 7 Avenue SW)

September 16, 2014

Infonex Accounting and Reporting for Oil and Gas Conference
Event Starts: September 16, 2014
Event Ends: September 17, 2014
Location: Calgary, AB

As an accountant in the oil and gas industry, you face unique challenges when adopting the latest IFRS changes and ensuring your financial reports are compliant with regulations. Improper interpretations of new standards can have profound effects on your business and business processes. Staying abreast of current issues and future changes can be overwhelming.

Attend INFONEX's Accounting and Reporting for Oil and Gas and get up-to-date guidance on the most recent accounting changes and find out what to expect in the coming year. Our expert faculty of speakers will help you address your most critical accounting and reporting challenges and share their best practices for interpreting and implementing future changes.

Hear important updates from the Alberta Securities Commission. Learn how to avoid common errors when implementing IFRS 11 - Joint Arrangements. Understand internal controls and get practical advice for impairment testing and explore the major implementation issues and challenges with IFRS 13. Find out what the future holds for disclosure overload and learn about the IASB's agenda for disclosure reform. Review accounting changes that may have slipped under the radar in your reporting and discuss amendments on the horizon for 2015. Analyze the revisions that have resulted from replacing IAS 39 with IFRS 9. Discuss challenges specific to oil and gas in the MD&A.

Join us in Calgary to learn the best methods for applying the standard changes from leaders in your field, and get solutions to issues that arise when applying the changes. Register today!

September 17, 2014

Infonex Accounting and Reporting for Oil and Gas Conference
Event Starts: September 16, 2014
Event Ends: September 17, 2014
Location: Calgary, AB

As an accountant in the oil and gas industry, you face unique challenges when adopting the latest IFRS changes and ensuring your financial reports are compliant with regulations. Improper interpretations of new standards can have profound effects on your business and business processes. Staying abreast of current issues and future changes can be overwhelming.

Attend INFONEX's Accounting and Reporting for Oil and Gas and get up-to-date guidance on the most recent accounting changes and find out what to expect in the coming year. Our expert faculty of speakers will help you address your most critical accounting and reporting challenges and share their best practices for interpreting and implementing future changes.

Hear important updates from the Alberta Securities Commission. Learn how to avoid common errors when implementing IFRS 11 - Joint Arrangements. Understand internal controls and get practical advice for impairment testing and explore the major implementation issues and challenges with IFRS 13. Find out what the future holds for disclosure overload and learn about the IASB's agenda for disclosure reform. Review accounting changes that may have slipped under the radar in your reporting and discuss amendments on the horizon for 2015. Analyze the revisions that have resulted from replacing IAS 39 with IFRS 9. Discuss challenges specific to oil and gas in the MD&A.

Join us in Calgary to learn the best methods for applying the standard changes from leaders in your field, and get solutions to issues that arise when applying the changes. Register today!

September 18, 2014

PASC September Luncheon
Increasing Owner Facility Fee Recoveries & Reducing Owner Operating costs through Equalizations & 13th Month Adjustments
Event Starts: September 18, 2014
Time: 11:30am - 1:00pm
Location: Calgary Petroleum Club (319 5th Avenue SW)

Join us after a summer break for Networking and Industry Insights.

Thursday, September 18th at the Calgary Petroleum Club - a presentation by J (Arthur) LeBlanc, President of J.A. LeBlanc & Associates Inc. as he presents on “Increasing Owner Facility Fee Recoveries and Reducing Owner Operating costs through Equalizations and 13th Month Adjustments."

Biography:

J (Arthur) LeBlanc is President of J.A. LeBlanc & Associates Inc., BBA Commerce (UNB) and CAPPA (Sait) degrees. With over 30 years of Oil & Gas experience, specializing in Joint Venture Auditing, Production Revenue Accounting, GCA, Equalizations & 13th Month Adjustments. 

As Joint Venture Auditors, J.A. LeBlanc and Associates have audited numerous Capital, Operating and Production Revenue properties. Over the last 20 years tens of millions of dollars in additional recoveries have been received by our clients. Arthur has assisted numerous Oil & Gas Companies as a specialist in Oil & Gas Joint Venture Auditing, Processing fee recoveries, GCA recoveries, Equalization recoveries & 13th Month Adjustment recoveries. 

Presentation Summary:

Introduction to Equalizations and 13th Month Adjustments. The purpose of Equalizations and 13th Month Adjustments. The importance of auditing Equalizations and 13th Month Adjustments as well as reviewing Equalizations and 13th Month Adjustments for payments. JP 05 Fee calculations and Excess Usage Fee reviews will be discussed as these can lead to additional fee recoveries. 

With lower gas prices over the last few years, most Oil and Gas companies are trying to reduce their operating costs and increase their fee recoveries. Equalization reviews in many instances can yield significant additional owner facility fee recoveries and reduced owner operating costs, while 13th Month Adjustment reviews frequently result in reduced payments to 3rd Parties for 13th Month Adjustments. 

 

PASC Members: $45.00 +GST
Nonmembers: $55.00 +GST
Location: Calgary Petroleum Club (319 - 5th Avenue SW)

September 18, 2014

PASC Committee Meeting
Education
Event Starts: September 18, 2014
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

September 23, 2014

PASC Committee Meeting
JIR
Event Starts: September 23, 2014
Time: 11:00 am - 2:00 pm
Location: Calgary Petroleum Club: Cardium

September 23, 2014

CANCELLED Course: Intro to Petroleum Tax - afternoon session
Intro to Petroleum Tax - afternoon
Event Starts: September 23, 2014
Time: 1:00 pm- 4:30 pm
Location: Calgary Petroleum Club (319 5 Avenue SW)

Now is your chance to find out why the tax department wants to know how and why you coded that well the way that you did.

Topics for the course include:

  • Overview of Income Tax
  • What is income
  • How oil and Gas activities are treated for tax
  • Land costs; Development Costs
  • Revenue, expenses & tax

This is the time to finally understand what COGPE, CDE and CEE tax classes are and how they affect your companies' bottom lines.  At the end of the class you will be informed as to how the tax gurus complete the T2 tax return. 

Members: $300 +GST; Non-Members: $350 +GST

Instructor:  Keith Raskob-Smith, CMA

Currently the Leader, Tax Compliance at Devon Canada Corporation.  Keith has been practicing oil & gas taxation for the last 17 years.  He started doing it auspiciously with the Canada Revenue Agency when he moved to Calgary in 1997.  In 2006, he saw the light and moved to KPMG, where he assisted clients and helped teach the Intro to Oil & Gas course that KPMG presented on behalf of the Calgary Petroleum Tax Society and the University of Calgary Continuing Education.  In 2010, he moved to Husky Energy and has been with Devon since 2012. 

Along the way, he has had the good fortune of working with many learned and experience oil & gas tax folk, and while not always in agreement with them, he has gained very valuable experience, not just in taxation, but the oil & gas industry as a whole.  Keith will provide a good overview of how oil & gas is taxed in Canada, and how that may affect business decisions.

Location: Calgary Petroleum Club (319 - 5th Avenue SW)
Date: September 23; Time: 1:00pm - 4:30pm

October 8, 2014

PASC Board of Directors Meeting (3 of 11)
October 2014/15 Meeting
Event Starts: October 8, 2014
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club: President's Room

October 8, 2014

Industry & Related Events
Getting Personal: Individual Liability and Corruption in Canada
Event Starts: October 8, 2014
Time: 7:30am - 9:00pm
Location: Global Business Centre 5th Floor - 120 8th Ave SE, Calgary, AB, Calgary

The fight against corruption is getting personal. Enforcement agencies are targeting senior managers, executives and board members for corrupt dealings carried out on their watch, with or without their knowledge. Most people wouldn't actively participate in schemes to bribe foreign officials. But it is all too common to see directors and officers join companies with activities in emerging markets where corruption is rampant, unwittingly exposing themselves to considerable liability in the process. Please join us on Wednesday, October 8 for a candid panel discussion with some of Canada's foremost corruption experts. Our panelists will draw from case studies and precedent-setting legal cases to discuss emerging corruption risks to directors and officers. They will examine common elements to successful corporate anti-bribery strategies and provide practical advice on mitigating personal risk. Breakfast will be provided. Please click on the links below to register or RSVP.

Hosted by: CKR Global

Registration: http://www.calgaryeconomicdevelopment.com/events/2014-10-08/getting-personal-individual-liability-and-corruption-canada-0

October 8, 2014

Getting Personal: Individual Liability and Corruption in Canada
Location: Global Business Centre 5th Floor - 120 8th Ave SE, Calgary, AB, Calgary
Time: 7:30am - 9:00am

The fight against corruption is getting personal. Enforcement agencies are targeting senior managers, executives and board members for corrupt dealings carried out on their watch, with or without their knowledge. Most people wouldn't actively participate in schemes to bribe foreign officials. But it is all too common to see directors and officers join companies with activities in emerging markets where corruption is rampant, unwittingly exposing themselves to considerable liability in the process. Please join us on Wednesday, October 8 for a candid panel discussion with some of Canada's foremost corruption experts. Our panelists will draw from case studies and precedent-setting legal cases to discuss emerging corruption risks to directors and officers. They will examine common elements to successful corporate anti-bribery strategies and provide practical advice on mitigating personal risk. Breakfast will be provided. Please click on the links below to register or RSVP.

Hosted by: CKR Global

 

Register Now

October 15, 2014

Course: 2011 Accounting Procedure (PM Session)
Introduction to the 2011 Accounting Procedure Course - Afternoon
Event Starts: October 15, 2014
Time: 12:30 pm to 4:00 pm
Location: Calgary Petroleum Club (319 5 Avenue SW), Cardium Rooms

PASC is offering a half day introduction course on the 2011 Accounting Procedure.

This course overviews the changes in PASC 2011 and an article-by-article review of how some of those changes affect our business practices.

Instructor: Kody Carroll, President Integrity Audit and Accounting Ltd.

PASC Members: $300 + GST

Non-PASC Members: $350 + GST

October 15, 2014

Course: 2011 Accounting Procedure (AM Session)
Introduction to the 2011 Accounting Procedure Course - Morning
Event Starts: October 15, 2014
Time: 8:30 am to 12:00 noon
Location: Calgary Petroleum Club (319 5 Avenue SW), Cardium Rooms

PASC is offering a half day introduction course on the 2011 Accounting Procedure.

This course overviews the changes in PASC 2011 and an article-by-article review of how some of those changes affect our business practices.

Instructor: Kody Carroll, President Integrity Audit and Accounting Ltd.

PASC Members: $300 + GST

Non-PASC Members: $350 + GST

October 21, 2014

Course: Intro to Petroleum Tax - afternoon session
Intro to Petroleum Tax - afternoon
Event Starts: October 21, 2014
Time: Registration 12:30pm; 1:00 pm- 4:30 pm
Location: Calgary Petroleum Club (319 5 Avenue SW)

Now is your chance to find out why the tax department wants to know how and why you coded that well the way that you did.

Topics for the course include:

  • Overview of Income Tax
  • What is income
  • How oil and Gas activities are treated for tax
  • Land costs; Development Costs
  • Revenue, expenses & tax

This is the time to finally understand what COGPE, CDE and CEE tax classes are and how they affect your companies' bottom lines.  At the end of the class you will be informed as to how the tax gurus complete the T2 tax return. 

Members: $300 +GST; Non-Members: $350 +GST

Instructor:  Keith Raskob-Smith

Currently the Leader, Tax Compliance at Devon Canada Corporation.  Keith has been practicing oil & gas taxation for the last 17 years.  He started doing it auspiciously with the Canada Revenue Agency when he moved to Calgary in 1997.  In 2006, he saw the light and moved to KPMG, where he assisted clients and helped teach the Intro to Oil & Gas course that KPMG presented on behalf of the Calgary Petroleum Tax Society and the University of Calgary Continuing Education.  In 2010, he moved to Husky Energy and has been with Devon since 2012.  

Along the way, he has had the good fortune of working with many learned and experience oil & gas tax folk, and while not always in agreement with them, he has gained very valuable experience, not just in taxation, but the oil & gas industry as a whole.  Keith will provide a good overview of how oil & gas is taxed in Canada, and how that may affect business decisions.

Location: Calgary Petroleum Club (319 - 5th Avenue SW)

Date: October 21; Time: 1:00pm - 4:30pm

October 21, 2014

PJVA/PASC/CAPPA Seminar: 13th Month Adjustments, October 2014
13th Month Adjustments, Darren Reeves
Event Starts: October 21, 2014
Time: 7:30 am Registration/Breakfast; 8:00 am - 4:00 pm Session
Location: U of C Downtown Campus, 906 - 8 Avenue SW, Computer Lab 232

October 22, 2014

PASC Annual General Meeting & Luncheon
Members Only Event
Event Starts: October 22, 2014
Time: 11:30am - 1:30pm
Location: Calgary Petroleum Club (319 5th Avenue SW)

Agenda

11:30am - Registration & Lunch
12:00pm - Annual General Meeting
12:15pm - Presentation by Cameron Gingrich and Dr. Lev Virine, Ziff Energy
 

Full Cycle Cost of Oil & Gas

Cameron Gingritch

Cameron Gingrich, B.Sc., B.A. – Director, Gas Services, has a decade of natural gas experience.  Responsible for analytical support and in-depth customized data analysis, trending, and modeling.  Focuses effort toward the North American Gas Strategies Retainer Service, multi-client studies, and custom consulting projects include: analysis of pipeline tolls, gas supply/storage load duration modeling, gas demand outlooks, and gas price modeling.  Mr. Gingrich was the lead analyst on the Northern Gas and Evolution of Dawn Multi-client studies, and authored papers on: Summer Gas Storage Analysis, Canadian Gas Exports to 2025, Natural Gas Price Forecast to 2045, and LNG Outlook to 2035.  In addition to the Canadian Securities Course, Mr. Gingrich has two degrees: a Bachelor of Science from the University of Alberta and a Bachelor in Arts in Economics from the University of Calgary where his studies focused on strategic energy and financial markets.  

Lev VirineDr. Lev Virine, P.Eng., Ph.D. – Manager, Gas Consulting, has over 2 decades of technical experience, economic evaluation of oil and gas reserves, decision and risk analysis, portfolio management, and oil and gas reserves management.  He assisted leading national and international exploration and production companies in establishing reserves evaluation and decision analysis processes.  Dr. Virine is the author of more than 40 scientific papers and articles, 7 patents, and two books.  His current focus is gas production outlooks, gas supply decline analysis, and full cycle cost assessment.  He has spoken at conferences and symposiums around the world.  Dr. Virine received his doctoral degree in engineering and computer science from Moscow State University of Railway Engineering. 

Presentation Summary:  The costs for the Energy Industry to find, develop, produce, and manage oil and gas production has 3 key components:

1.     Technology enhancements improve industry performance

2.     Finding & Development costs can shrink with more reserves identified for each well (multi-lateral horizontal wells completed with dozens of hydraulic fractures)

3.     Operating costs can be driven down through ruthless efficiency gains extracted by applying best practices, benchmarking, and determined focus on the bottom line

By combining the cost components, full cycle costs can be compared between Western Canada and other basins throughout North America. The industry will systematically develop lower cost basins first. Natural Gas Liquids can provide an important price uplift for gas producers, thus producers may select liquid prone regions first. The presentation concludes with a quick recap of LNG, full cycle oil & gas costs, along with oil sands cost. If you want to get a concise version on full cycle costs, this is the Event for you.

October 23, 2014

PASC Committee Meeting
Education
Event Starts: October 23, 2014
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

October 23, 2014

Course: Equalizations Basics (AM Session)
Equalizations Basics (AM Session)
Event Starts: October 23, 2014
Time: Registration starts @ 8:00am; Course 8:30 am to 12:00 noon
Location: Calgary Petroleum Club

Equalizations (13th Month Throughput Adjustments) Basics

This half-day course is intended for people who want to understand what an equalization (13th month throughput adjustment) is, why we do them, and what information is contained within them.  It is not intended for people who will be required to do the 13th month adjustments.

Members:
$300 +GST; Non-Members: $350

Instructor: Lorie Lindberg

Location: Calgary Petroleum Club (319 - 5th Avenue SW)

Date: October 23

AM Session: 8:30am - 12:00pm

PM Session: 1:00pm - 4:30pm

October 23, 2014

Course: Equalizations Basics (PM Session)
Equalizations Basics (PM Session)
Event Starts: October 23, 2014
Time: Registration starts @ 12:30pm; Course 1:00pm - 4:30pm
Location: Calgary Petroleum Club

Equalizations (13th Month Throughput Adjustments) Basics

This half-day course is intended for people who want to understand what an equalization (13th month throughput adjustment) is, why we do them, and what information is contained within them.  It is not intended for people who will be required to do the 13th month adjustments.

Members:
$300 +GST; Non-Members: $350

Instructor: Lorie Lindberg

Location: Calgary Petroleum Club (319 - 5th Avenue SW)

Date: October 23

AM Session: 8:30am - 12:00pm

PM Session: 1:00pm - 4:30pm

October 28, 2014

PASC Committee Meeting
JIR
Event Starts: October 28, 2014
Time: 11:00 am - 2:00 pm
Location: Calgary Petroleum Club: Cardium

Closed Meetings

No Closed Meetings for this time period.



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