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February 2017
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PASC Board of Directors Meeting (6 of 11)
February 2016/17 Meeting
Event Starts: February 8, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
PJVA/PASC/CAPPA Joint Course: Product Measurement & Allocation, February 2017
Event Starts: February 8, 2017
Time: 7:30 am Breakfast & Registration; 8:00 am - 4:00 pm Seminar
Location: PJVA Office c/o A+ - #600, 900 - 6 Avenue SW
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Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: February 9, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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PASC/PJVA Joint Luncheon - February
Update: The First Day of the Alberta Carbon Levy
Event Starts: February 16, 2017
Time: 11:30 a.m. Registration & Lunch; 12:00 p.m. Presentation
Location: Calgary Petroleum Club (319 - 5th Avenue SW)

Update: The First Day of the Alberta Carbon Levy and Mitigating with Government Incentives for Oil and Gas Producers and Midstreamers.

Come hear about New Federal and Provincial Incentives that help companies access credits for innovative processes that most O&G Companies operating in AB and BC access every day.
Speakers -David Van Den Beld PWC Partner National SR&ED Science Leader, Domenico Barrufaldi PWC Partner, Mel Wilson, Partner and National Leader, Sustainable Business Solutions at PwC Canada

Speakers:

David Van Den Beld
PWC Partner National SR&ED Science Leader and other government incentives

Domenico Barrufaldi
PWC Partner, Tax / National Energy Tax Leader, Specializing in M&A, Corporate Finance & Restructuring.
 
David Crawford
PWC Senior Manager, Indirect Tax Services

Mel Wilson
Partner and National Leader, Sustainable Business Solutions at PWC Canada

Just Added!
Ken Ghag

Senior Manager, Indirect Tax Group at PWC Vancouver 

Cost:
Members $45.00 +GST
Special Rate $45.00 +GST for IIA
Student Rate $20.00 +GST
Nonmembers: $55.00 +GST
 
L: Calgary Petroleum Club (319 - 5th Avenue SW)
D: Thursday, February 16, 2017
T: 11:30 a.m. - 1:00 p.m.

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

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Joint Interest Research Committee Meeting
Closed Meeting
Event Starts: February 21, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Membership/Marketing Committee Meeting
Closed Meeting
Event Starts: February 22, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
FAR Committee Meeting
Closed Meeting
Event Starts: February 22, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Education Committee Meeting
Closed Meeting
Event Starts: February 23, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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March 2017
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PASC Board of Directors Meeting (7 of 11)
March 2016/17 Meeting
Event Starts: March 8, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: March 9, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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PASC Course: 2011 Accounting Procedure (Introduction)
2011 Accounting Procedure (Introduction) 1/2 Day
Event Starts: March 14, 2017
Time: Registration 7:30 am; Course 8:00 am - 11:30 am
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

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

Tuesday, March 14, 2017
Registration & Breakfast 7:30 am; Course 8:00am - 11:30 am
Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

Note: Light refreshments served.

PASC Course: 2011 Accounting Procedure (Intermediate)
2011 Accounting Procedure (Intermediate) 1/2 Day
Event Starts: March 14, 2017
Time: Registration 12:00 pm; Course 12:30 pm- 4:00 pm
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

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 14, 2017
Registration 12:00 pm; Course 12:30 pm- 4:00 pm
Associations Plus Inc. 600, 900 6 Avenue SW, Calgary

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Education Committee Meeting
Closed Meeting
Event Starts: March 16, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Materials & Inventory Committee Meeting
Closed Meeting
Event Starts: March 21, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
Joint Interest Research Committee Meeting
Closed Meeting
Event Starts: March 21, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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PASC/PJVA/SPE Joint Luncheon - March
Petrochemicals - Adding Value to NGL's in Alberta
Event Starts: March 22, 2017
Time: 11:30 am Registration & Lunch; 12:00 pm Presentation
Location: Calgary Petroleum Club (319 - 5th Avenue SW)

Petrochemicals - Adding Value to NGL’s in Alberta.

Alberta’s Petrochemicals Diversification Program is designed to incentivize job creation.

$200 million in royalty credits is dedicated to Inter Pipeline’s PDH Facility.

Find out about Inter Pipeline’s Propane Dehydrogenation Facility which will develop a new market for Alberta’s Natural Gas.

Unconventional plays and additional fractionization capacity has facilitated growth in WCSB NGL Supply.

Current low propane prices and AB Govt incentives support Alberta petrochemical facility projects and these projects increase the value of underutilized NGL’s.

Join us for a presentation by Amelie Delisle on Interpipeline’s Propane Dehydrogenation Facility which will develop a new market for Alberta’s Natural Gas. March 22-2017 at The Calgary Petroleum Club.

Speaker:
Amelie Delisle, PDH Commercial Manager at Inter Pipeline

Cost:
PASC/PJVA/SPE Members $45.00 +GST
Special Rate $45.00 +GST for IIA
Student Rate $20.00 +GST
Nonmembers: $55.00 +GST
 
L: Calgary Petroleum Club (319 - 5 Avenue SW)
D: Wednesday, March 22, 2017
T: 11:30 am - 1:00 pm

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

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Course: Revenue Audit
Revenue Audit
Event Starts: March 23, 2017
Time: 7:30 am - 12:00 pm
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary AB

Revenue Audit
Format: ½ day

You will learn the following in this 1/2 day session:

  • Petrinex
    • Audit preparation - to ascertain risk areas
  • EPAP - Directive 76 (Alberta)/ EVAP (Saskatchewan)
    • Enhanced Production Audit Program System
    • Enhanced Valuation Audit Program
  • Directive 17
    • Measurement Requirements for Oil & Gas Operations
  • Directive 46
    • Production Audit Handbook
  • Gas Component Conversiona & Oil Densities
  • Onsite Information
    • Production Accounting & Revenue Files
    • Oil & Gas Analysis
    • Production Accounting Information Not Available
  • Common Rick Areas & Findings
    • Gas
    • Oil & Solution Gas
    • Liquids

Instructor: Dale Richardson
Dale Richardson received a two year business administration diploma from  Mount Royal College and worked as a Tax Clerk, Gas Plant Accountant, Internal Auditor and a Revenue and Fixed Asset Supervisor before joining Rife Resources Ltd in August 1983.  He started at Rife Resources as a Senior Auditor,  became Audit Supervisor in 1987, was then promoted to the Audit Manager from 1993 to 2008. Since 2008 Dale has become the Business Manager at Rife Resources Ltd.  Dale is currently part of the Asset Preservation and Compliance Team which involves ensuring that the terms of freehold leases are complied with and non leased mineral titles lands are included with offsetting production are drilled or leased out. Dale is also part of the offset team that issues offsets on leased freehold lands where offsetting production is draining the freehold lands. The APAC teams is also involved in mediation and legal issues.

Dale also accesses risk areas internally and conducts internal reviews and contractor audits at Rife Resources which also manages  Freehold Royalties Partnership and Canpar Holdings Ltd.  Dale also participates on joint venture audits as mentor and trainer with the auditors conducting the joint venture audits.

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

Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary AB
Time: 7:30am Registration & Lunch, 8:00am Class Starts

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Membership/Marketing Committee Meeting
Closed Meeting
Event Starts: March 28, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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April 2017
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Course: Intro to Petroleum Tax 1/2 Day
Intro to Petroleum Tax - morning session
Event Starts: April 11, 2017
Time: 8:00 am to 12:00 noon
Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary, AB

PASC is offering a half day course on the Introduction to Petroleum Tax.  Topics for the course include an Overview of Income Tax; What is income; How oil and Gas activities are treated for tax; Land costs; Development Costs; Revenue, expenses & tax.  Now is the time to finally understand what is COGPE, CDE and CEE tax classes and how do they affect the bottom line to your company. 

At the end of the class you will an example on how the tax guru’s complete the T2 tax return.  The course is taught by Keith Raskob-Smith Senior Supervisor, Tax for Devon Canada. 

PASC Members: $300 + GST

Non-PASC Members: $350 + GST

Location: Associations Plus Inc. 600, 900 6 Avenue SW, Calgary, AB

Time: 8:00am Registration & Breakfast, 8:30am Class Starts

Note: Full breakfast & tea/coffee served between 8:00am - 8:30am

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PASC Board of Directors Meeting (8 of 11)
April 2016/17 Meeting
Event Starts: April 12, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: April 13, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Materials & Inventory Committee Meeting
Closed Meeting
Event Starts: April 18, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
Joint Interest Research Committee Meeting
Closed Meeting
Event Starts: April 18, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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PASC Luncheon: April 19, 2017
Event Starts: April 19, 2017
Time: 11:30am - 1:00pm
Location: Calgary Petroleum Club (319 5th Avenue SW)

Save-the-Date

Topic: TBD

Speakers: TBD

D: Wednesday, April 19, 2017
T: 11:30 a.m. - 1:00 p.m.
L: Calgary Petroleum Club (319 5 Avenue SW)

PASC Members: $45.00 +GST
Nonmembers: $55.00 +GST
Lunch will be provided with a non-alcoholic beverage, and dessert.
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Education Committee Meeting
Closed Meeting
Event Starts: April 20, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Joint Committee Meeting: Education/Membership/Marketing
Closed Meeting
Event Starts: April 26, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
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Membership/Marketing Committee Meeting
Closed Meeting
Event Starts: April 27, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club
PASC/PJVA Joint Luncheon - April 2017
AltaGas Ridley Island Propane Export Terminal
Event Starts: April 27, 2017
Time: 11:30 am Registration & Lunch; 12:00 pm Presentation
Location: Calgary Petroleum Club 319 - 5 Avenue SW

AltaGas Ridley Island Propane Export Terminal

As propane use continues to expand in Asia and other overseas markets, AltaGas’s propane export terminal will get Alberta and BC’s natural gas to new markets.

Speaker Jamie Fisher, Director - Energy Exports at Altagas

Cost:
Members $45.00 +GST
Special Rate $45.00 +GST for IIA

Student Rate $20.00 +GST
Nonmembers: $55.00 +GST

 
L: Calgary Petroleum Club (319 - 5th Avenue SW)
D: Thursday, April 27, 2017
T: 11:30 am - 1:00 pm

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

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What's New

Energy Fundamentals Certificate

The Petroleum Accountants Society of Canada is pleased to offer the Junior Energy Certificate program to connect new and prospective entrants with the industry. Delivered through a practical yet informative combination of luncheons, courses and seminars, this 20-25 hour commitment aims to impart foundational knowledge and emerging trends to participants, while concurrently exposing them to an industry association and its associated networking opportunities with the society’s members at various career levels.

More Info

July - 2017 CAPL Property Transfer Procedure

CAPL has distributed the material associated with the first industry draft of the 2017 CAPL Property Transfer Procedure and is requesting feedback by September 21st, 2016. Please send your organization’s comments in an electronic format to Jim MacLean jmaclean@repsol.com.

April - AG-19 Accounting for Shared Pad Site Costs

PASC is inviting anyone in the industry to please send review comments on the following document to info@petroleumaccountants.com. This PASC document is a companion document to the recently released PJVA/CAPL document: Pad Site Sharing Agreement (PSSA). See a copy of the PSSA here and send any comments on this document directly to the PJVA/CAPL contact.


News Archive


Events

February 8, 2017

PASC Board of Directors Meeting (6 of 11)
February 2016/17 Meeting
Event Starts: February 8, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club

February 8, 2017

PJVA/PASC/CAPPA Joint Course: Product Measurement & Allocation, February 2017
Event Starts: February 8, 2017
Time: 7:30 am Breakfast & Registration; 8:00 am - 4:00 pm Seminar
Location: PJVA Office c/o A+ - #600, 900 - 6 Avenue SW

February 9, 2017

Joint Venture Audit Committee Meeting
Closed Meeting
Event Starts: February 9, 2017
Time: 11:30 am - 1:30 pm
Location: Calgary Petroleum Club