NEWS & EVENTS
LinkedIn RSS
February 2016
SuMoTuWeThFrSa
1 2 3 4 5 6
7 8 9
10
11
12 13
14 15
16
17
18 19 20
21 22
23
24
25
26 27
28
29
March 2016
SuMoTuWeThFrSa
1 2 3 4 5
6 7 8
9
10
11 12
13 14
15
16
17 18 19
20 21
22
23
24
25 26
27 28
29
30
31
April 2016
SuMoTuWeThFrSa
1 2
3 4 5 6 7 8 9
10 11 12
13
14 15 16
17 18
19
20
21 22 23
24 25 26 27
28
29 30

Events Calendar

February 10, 2016

PASC Board of Directors Meeting (7 of 11)
February 2015/16 Meeting
Event Starts: February 10, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

February 11, 2016

PASC Luncheon: February 11, 2016
Speaker: Neil Narfason
Event Starts: February 11, 2016
Time: 11:30am - 1:00pm
Location: Calgary Petroleum Club (319 5th Avenue SW)

"Everything you wanted to know about oil & gas insolvency but were afraid to ask"

Items covered:

  1. What generally happens to an oil & gas entity after a bankruptcy/receivership/CCAA?  Normal course?
  2. Effective date of the receivership - pre-post issues - activity/production month
  3. CAPL/JOA issues - impact of the stay of proceedings. JV/WI partner rights
  4. Taking production in kind - operator and non-operator perspectives - working capital impact
  5. Operatorship - what happens when the operator is placed into insolvency proceedings?
  6. AER implications - LMR and transaction approvals
  7. Priorities - GORR/Royalties/Freehold/Surface Leases/trade liens

Speaker: Neil Narfason
Mr. Narfason leads EY’s Energy Market Segment Transaction Advisory Services Group and Energy Market Segment Restructuring Group. His focus is on providing restructuring advisory services across a wide range of industries including significant inter-jurisdictional issues and international matters.

For over 24 years he has primarily been involved in providing restructuring and financial advice to creditors/debtors, acting as monitor in CCAA proceedings, acting as foreign representative in US ch. 15
filings, acting as receiver and manager and trustee in bankruptcy, conducting due diligence, operational reviews and viability assessments. He has also conducted valuations of energy entities and has provided corporate finance advice on the acquisition and sale of energy businesses and specific energy assets.

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

Lunch will be provided with a non-alcoholic beverage, and dessert.

February 23, 2016

PJVA/PASC/CAPPA Seminar: 13th Month Adjustments, February 2016
13th Month Adjustments, Darren Reeves
Event Starts: February 23, 2016
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 DTC 140

February 23, 2016

Course: Gas Allocations - Using the declining balance method (Advanced)
Advanced Gas Allocations: Using the declining balance method
Event Starts: February 23, 2016
Time: Registration & Breakfast 8:00 am; Course 8:30 am - 4:30 pm
Location: Calgary Petroleum Club

Advanced Gas Allocations: Using the declining balance method
Format: 1 day

Note: If you have taken the Product Analysis & Audit Course you can register directly into the Advanced Product Allocations course and do not need to complete the intermediate level course.

This course will cover:

  • Configuration – schematic metering diagrams, AER SMD requirements, what constitutes a gas gathering system, production accounting system configuration
  • Accounting for hydrocarbon liquids
  • Example of a declining balance allocation including the following concepts: effluent proration battery, measurement by difference, C7+ gas equivalent factors, gas lift, return fuel, C3 recovery efficiency factor, sulphur allocation, plant fuel allocation, two plant stream
  • Allocation checks
  • Allocation audit findings
  • Allocations today and in the future

Instructor: Kevin Boyce
For the past 17 years Kevin Boyce worked as a production measurement audit for Encana Corporation.  Prior that that he worked at Chevron Canada Resources for 9 years as a production accountant, joint venture analyst, financial analyst and internal auditor.  He has an Certified Internal Auditor designation, a Certification in Control Self-Assessment and an MBA.  He is  an active member of the Industry Measurement Group (IMG) and is currently heading the subcommittee on changes to the AER regulations.   He has instructed for PASC, CSHM, & PJVA.

Materials Required:
Each student is requested to bring a laptop and 5 different colours of highlighters.

Fee:
$500 +GST Members
$575 +GST Non-members

Location: Calgary Petroleum Club (319 - 5th Avenue SW)
Includes a full breakfast from 8:00 am - 8:30am & Lunch

February 24, 2016

PASC Course: 2011 Accounting Procedure (Introduction)
2011 Accounting Procedure (Introduction) 1/2 Day
Event Starts: February 24, 2016
Time: registration & Breakfast 8:00 am; Course 8:30 am - 12:00 noon
Location: Calgary Petroleum Club, Viking Room - 319 5 Avenue SW

2011 Accounting Procedure: Introduction
Format: ½ day (4-hours)

The PASC 2011 Accounting Procedure affords a new option to companies for a model accounting procedure that was designed in context of an ever-changing industry environment. This course acts as an introduction to some of the key changes that were brought about with the introduction of the 2011 PASC Accounting Procedure, and overviews how some of the new options in PASC 2011 affect our current business practices.

Instructor:  Kody Carroll
As President of Integrity Audit and Accounting Ltd., Kody Carroll has been specializing in Joint Venture Accounting and Joint Venture Audit for both upstream and midstream oil and gas companies for 18 years. He has performed and managed a number of audits at a multitude of companies across the industry. In addition, he has been involved in training on PASC model agreements, equalizations, joint venture accounting, and joint venture audit.

Kody is a member of the Joint Venture Audit Committee (JVAC) of PASC and has a MBA from the University of Calgary specializing in Global Energy Management and Sustainability.

Fee:
$300 +GST Members
$350 +GST Non-members

Wednesday, February 24, 2016
Registration & Breakfast 8:00 am; Course 8:30am - 12:00pm
Calgary Petroleum Club, Viking Room - 319 5 Avenue SW

February 25, 2016

Course: Equalizations Basics
Equalizations Basics 1/2 day
Event Starts: February 25, 2016
Time: Registration & Breakfast @ 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 ideal for those individuals looking to gain an understanding of the steps required to approve and/or code out an equalization.  An equalization will be done in class to demonstrate all of the components that make up an equalization and where the data comes from.  The course may not be in depth enough for individuals who will be required to do the equalizations for their organization.

Instructor: Lorie Lindberg
Lorie has been working in the oil patch for 35 years in the areas of production, revenue, and royalty accounting.  She received her CMA designation in 1991 and has also received  Certificates in Production Accounting (CAPPA), Joint Venture Auditing, and Teaching .

Lorie has been teaching for the past 25 years for CAPPA, PASC, and various other organizations.  She currently consults for several companies specializing in Gas Cost Allowance and Equalizations.

Fee:
$300 +GST Members
$350 +GST Non-members

Date: February 25, 2016
Location: Calgary Petroleum Club (319 - 5th Avenue SW)
Includes a full breakfast from 8:00am - 8:30am.

March 9, 2016

PASC Board of Directors Meeting (8 of 11)
March 2015/16 Meeting
Event Starts: March 9, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

March 16, 2016

PASC Luncheon: March 16, 2016
Event Starts: March 16, 2016
Time: 11:30am - 1:00pm
Location: Calgary Petroleum Club (319 5th Avenue SW)

How to manage risks across currency markets by incorporating FX hedging.

In the past year we have seen unprecedented volatility across currency markets. Now is the time to evaluate how these risks have impacted cash flows and your company’s bottom line. 

This presentation will focus on how to manage risk by incorporating FX hedging. What does the hedging process for FX exposures look like and why is it so important to have a plan? What tools are available so that you can achieve a better rate of transaction over time, while at the same time forecasting cash flows more efficiently?

PASC members will leave this presentation with a deeper understanding of the factors affecting the Canadian dollar, as well as a working knowledge of derivative products which will allow you to protect your company’s bottom line and participate in favourable market movement at the same time.

Presenter: 
Paul Lennox, CFA, is the President and co-founder of EncoreFX and has over 20 years of financial markets experience including 15 years in foreign exchange.  Paul was the treasurer and a member of the executive team at Custom House for 10 years.  He helped build Custom House into a $400 million dollar global FX and payments company.  Paul is passionate about the FX business.  He is a CFA charter holder, has a BA in Economics and was formerly an officer in the Canadian Navy. 

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

Lunch will be provided with a non-alcoholic beverage, and dessert.

March 29, 2016

PASC Course: 2011 Accounting Procedure (Intermediate)
2011 Accounting Procedure (Intermediate) 1/2 Day
Event Starts: March 29, 2016
Time: Registration & Breakfast 8:00 am; Course 8:30 am - 12:00 noon
Location: Calgary Petroleum Club, Viking Room - 319 5 Avenue SW

2011 Accounting Procedure: Intermediate
Format: ½ day (4-hours)

This intermediate course on the 2011 PASC Accounting Procedure picks up where the introductory course left off by providing a more in depth clause-by-clause analysis of key differences between PASC 1996 and PASC 2011. The course will also review some of the challenges that industry may still have to content with when adopting and adapting the 2011 PASC Accounting Procedure for the governing agreements of today and tomorrow. 

Instructor:  Kody Carroll
As President of Integrity Audit and Accounting Ltd., Kody Carroll has been specializing in Joint Venture Accounting and Joint Venture Audit for both upstream and midstream oil and gas companies for 18 years. He has performed and managed a number of audits at a multitude of companies across the industry. In addition, he has been involved in training on PASC model agreements, equalizations, joint venture accounting, and joint venture audit.

Kody is a member of the Joint Venture Audit Committee (JVAC) of PASC and has a MBA from the University of Calgary specializing in Global Energy Management and Sustainability.

Fee:
$300 +GST Members
$350 +GST Non-members

Tuesday, March 29, 2016
Registration & Breakfast 8:00 am; Course 8:30am - 12:00pm
Calgary Petroleum Club, Viking Room - 319 5 Avneue SW

April 13, 2016

PASC Board of Directors Meeting (9 of 11)
April 2015/16 Meeting
Event Starts: April 13, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

April 19, 2016

PJVA/PASC/CAPPA Seminar: 13th Month Adjustments, April 2016
13th Month Adjustments, Darren Reeves
Event Starts: April 19, 2016
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 DTC 140

April 20, 2016

PASC Luncheon: April 20, 2016
Crude Oil, Natural Gas and Natural Gas Liquids Marketing
Event Starts: April 20, 2016
Time: 11:30am - 1:00pm
Location: Calgary Petroleum Club (319 5th Avenue SW)

Crude Oil, Natural Gas and Natural Gas Liquids Marketing:
What Production Accountants may need to know – to help their company survive $40 oil and $2 gas

In an environment of low prices producers are looking at ways to cut costs and improve efficiencies.  Are there ways to do things better in accounting for marketing activities.

What are some of the issues affecting Production Accountants:  Transportation, TIK, low prices, the new midstream environment.

What are marketers looking for  from  accountants and what do accountants need from marketers. Can ( junior) CDN oil and gas companies survive the NDP Government and a federal Liberal Government.

Presenter:  Robert C. Edney, ACME ENERGY MARKETING LTD.
Robert Edney has had over 35 years of experience working in the oil and gas industry.  He is currently President and a Director of Acme Energy Marketing Ltd.  A private company founded in 1997.  Robert oversees the Company’s marketing business which aggregates and markets crude oil, natural gas, natural gas liquids and sulphur from junior and mid-sized energy companies in Western Canada.  He has also been involved in providing analysis of the market implications for gas supply, gas markets, transportation, processing and midstream.

Prior to joining Acme Energy Marketing in 2003, Robert was Managing Director, Origination and co-managed Duke Energy Marketing Canada; in addition he was a Director of Duke Energy Midstream Canada.  Duke Energy Canada marketed and traded an aggregate volume of 3.5 BCF/d, this included Mobil Oil Canada’s portfolio in Alberta, British Columbia and Nova Scotia. He’s also held various marketing roles at Canadian Hunter Exploration and Bow Valley Industries.  He has also been an Expert Witness at several TransCanada Pipelines and Alliance Pipelines rate hearings before the National Energy Board. He has also been an Expert Witness in arbitration and lawsuits cases. Robert holds a Bachelor’s Degree from Carleton University in Ottawa, along with many management courses throughout this career.

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

Lunch will be provided with a non-alcoholic beverage, and dessert.

April 28, 2016

PASC Event: Meet, mix & mingle!
Event Starts: April 28, 2016
Time: 4:30 p.m. - 7:00 p.m.
Location: Calgary Petroleum Club (319 5th Avenue SW)

Meet, mix and mingle!

PASC is hosting an opportunity to network with industry peers on Thursday, April 28th at the Calgary Petroleum Club. Members and non-members are welcome to attend, so feel free to bring guests! The event starts at 4:30pm and your $20 ticket includes entry, apps and a drink. Space is limited to 50 individuals, so please register today!

PASC Members: $20.00 +GST
Nonmembers: $20.00 +GST
Location: Calgary Petroleum Club (319 - 5th Avenue SW)

Closed Meetings

February 11, 2016

Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: February 11, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

February 16, 2016

Materials & Inventory Committee Meeting
Closed Meeting
Event Starts: February 16, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

February 17, 2016

Education Committee Meeting
Closed Meeting
Event Starts: February 17, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

February 23, 2016

Joint Interest Research Committee Meeting
Closed Meeting
Event Starts: February 23, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

February 29, 2016

Marketing Committee Meeting
Closed Meeting
Event Starts: February 29, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

March 10, 2016

Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: March 10, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

March 15, 2016

Materials & Inventory Committee Meeting
Closed Meeting
Event Starts: March 15, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

March 22, 2016

Joint Interest Research Committee Meeting
Closed Meeting
Event Starts: March 22, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

March 24, 2016

Education Committee Meeting
Closed Meeting
Event Starts: March 24, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

March 30, 2016

Marketing Committee Meeting
Closed Meeting
Event Starts: March 30, 2016
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club


Π