Material Price Catalogue
The purpose of the Controllable Material Price Catalogue is to provide a classification guideline for material used in joint interest oil field operations. The applicable operating agreements provide for material to be subject to record and inventory control.
The Controllable and Non-Controllable sections were originally compiled and issued in April, 1971 by the Council of Petroleum Accountants Societies of North America (COPAS) as Bulletin No. 6 – Material Classification Manual and revised April, 1990. PASWC approved its adoption for use effective January 1, 1972 and the Bulletin has been incorporated into the catalogue. In the 2003/2004 edition of the Controllable Material Catalogue this section was merged with the Glossary.
In 1995 an abridged version of COPAS Material Pricing Manual had been incorporated into the catalogue. This has been modified to Canadian Conditions and practices by the Inventory Committee of PASC.
The Operator is responsible for properly accounting to the Non-Operators for all Controllable and Non-Controllable material movements affecting the Joint Account. The definition of Controllable versus Non-Controllable material should not influence the decision to properly charge or credit the Joint Account.
The classification and information in this catalogue is REFERENCE source only.