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September 2016
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Course: Intro to Petroleum Tax 1/2 Day
Intro to Petroleum Tax 1/2 Day
Event Starts: September 7, 2016
Time: Breakfast & Registration 8:00am; Course 8:30 am to 12:00 noon
Location: Calgary Petroleum Club: 319 5 Avenue SW

Format: ½ day (4-hours)

Resource taxation (Oil & Gas, Mining) in Canada is subject to a variety of special rules under the Income Tax Act.  In particular, since the Resource industry is very capital-intensive, there are a number of special rules for classifying and deducting capital expenditures for exploration, drilling, plants, and both surface and in-situ development and construction.

This course will provide you with a basic understanding of the key tax laws that affect oil and gas companies that explore, develop, construct, produce, and buy and sell oil & gas properties.  It will cover both how and why the Canadian governments use the tax laws to regulate the industry.  It will also look at some of the differences between accounting and tax treatments, so when you receive information requests from the Tax department, you’ll have some understanding of what that information may be used for.

Instructor: Keith Raskob-Smith
Keith is originally from Manitoba, spent 5 years in Northern BC, and has been located in Calgary for the last 18 years.  He holds a B.Comm from University of Manitoba, and has been a CMA since 1998.  Keith was with the CRA when he came to Calgary.  He then started auditing oil & gas for 6-7 years and then in mid-2000’s CA firms were looking for Tax guys, and he went to work for KPMG.  In 2010 he moved over to Husky Energy as Tax Manager, in 2012 he moved to Devon Energy as Tax Manager.  He has dealt with the oil & gas tax laws from three sides – the CRA, public practice, and industry.

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

Date: September 7, 2016
Location: Calgary Petroleum Club (319 5 Avenue SW)
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 2016 Education Day
Event Starts: September 21, 2016
Time: 7:00 a.m - 4:00 p.m.
Location: Calgary Petroleum Club (319 5th Avenue SW)

Change. Challenge. Opportunity.
Adding value in difficult times

Date: Wednesday, September 21, 2016
Location: Calgary Petroleum Club, Devonian Room (319 5 Avenue SW, Calgary)
Time: 7:00am – 4:00pm

Presentations/Topics: (subject to change)

“Get the Dirty Out of Dirty Oil”
Speaker: Neil Camarta

“The All Date Debate”
Dates: Effective date, binding date, closing dates and the Eligibility of Costs. Just who is responsible for Costs and when?
Speakers: Lorie Caron & Robin Lewis

“Auditing in a Low Price Environment”
Speaker: Kody Carroll 

“Insolvency”
Speaker: Cassie Riglin & Alex Corbett

“Property Tax 101 & Saving Opportunities”
Speaker: Ian Fluney

“The current state-of-play of the different GHG regimes in Western Canada and Implications for Canadian Producers and Accountants.”
Speakers: Sander Jansen & Chris Jameson

“PJVA CO&O Agreement”
Speaker: Tim Riemer

"Sandler's Change Management Triangle: Change in 4 Step"
Speaker: Hamish Knox

Qualifies for Educational Credits

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Course: Gas Allocations & Audit Findings (Intermediate)
Cancelled: Gas Allocations & Audit Findings (Intermediate)
Event Starts: September 28, 2016
Time: Registration & Breakfast 8:00 am; Course 8:30 am - 4:30 pm
Location: Calgary Petroleum Club

Gas Allocations & Audit Findings: Intermediate
Format: 1 day

This course will cover:

  • Gas allocations – what are they, who is interested in them,  history, types, what is required to perform a correct allocation,  an example of an allocation process, an example of a simple gas volumetric allocation,  gas and product component allocation steps and a component allocation example.
  • Three things that drive an equitable allocation – accurate volumes (measurement), representative analyses and correct configuration.
  • Measurement – what is measurement, how is it done, why accurate measurement is important, systems included in measurement, standards, why measurement is difficult, reporting measurement, measurement processes and production flow analyses.
  • Audit findings related to measurement – facility& measurement system design/installation issues, error identification and top ten EFM audit issues and recommendations.
  • Gas & Liquid Analysis – compositional measures, what are they used for, important factors when taking samples, gas and liquid analysis audit findings and recommendations

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.

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 and Lunch.

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Course: Gas Allocations: Using the declining balance method (Advanced)
Gas Allocations: Using the declining balance method (Advanced)
Event Starts: September 29, 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.

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

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View All Events

What's New

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

September 7, 2016

Course: Intro to Petroleum Tax 1/2 Day
Intro to Petroleum Tax 1/2 Day
Event Starts: September 7, 2016
Time: Breakfast & Registration 8:00am; Course 8:30 am to 12:00 noon
Location: Calgary Petroleum Club: 319 5 Avenue SW

Format: ½ day (4-hours)

Resource taxation (Oil & Gas, Mining) in Canada is subject to a variety of special rules under the Income Tax Act.  In particular, since the Resource industry is very capital-intensive, there are a number of special rules for classifying and deducting capital expenditures for exploration, drilling, plants, and both surface and in-situ development and construction.

This course will provide you with a basic understanding of the key tax laws that affect oil and gas companies that explore, develop, construct, produce, and buy and sell oil & gas properties.  It will cover both how and why the Canadian governments use the tax laws to regulate the industry.  It will also look at some of the differences between accounting and tax treatments, so when you receive information requests from the Tax department, you’ll have some understanding of what that information may be used for.

Instructor: Keith Raskob-Smith
Keith is originally from Manitoba, spent 5 years in Northern BC, and has been located in Calgary for the last 18 years.  He holds a B.Comm from University of Manitoba, and has been a CMA since 1998.  Keith was with the CRA when he came to Calgary.  He then started auditing oil & gas for 6-7 years and then in mid-2000’s CA firms were looking for Tax guys, and he went to work for KPMG.  In 2010 he moved over to Husky Energy as Tax Manager, in 2012 he moved to Devon Energy as Tax Manager.  He has dealt with the oil & gas tax laws from three sides – the CRA, public practice, and industry.

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

Date: September 7, 2016
Location: Calgary Petroleum Club (319 5 Avenue SW)
Time: 8:00am Registration & Breakfast, 8:30am Class Starts
Note: Full breakfast & tea/coffee served between 8:00am - 8:30am

September 21, 2016

PASC 2016 Education Day
Event Starts: September 21, 2016
Time: 7:00 a.m - 4:00 p.m.
Location: Calgary Petroleum Club (319 5th Avenue SW)

Change. Challenge. Opportunity.
Adding value in difficult times

Date: Wednesday, September 21, 2016
Location: Calgary Petroleum Club, Devonian Room (319 5 Avenue SW, Calgary)
Time: 7:00am – 4:00pm

Presentations/Topics: (subject to change)

“Get the Dirty Out of Dirty Oil”
Speaker: Neil Camarta

“The All Date Debate”
Dates: Effective date, binding date, closing dates and the Eligibility of Costs. Just who is responsible for Costs and when?
Speakers: Lorie Caron & Robin Lewis

“Auditing in a Low Price Environment”
Speaker: Kody Carroll 

“Insolvency”
Speaker: Cassie Riglin & Alex Corbett

“Property Tax 101 & Saving Opportunities”
Speaker: Ian Fluney

“The current state-of-play of the different GHG regimes in Western Canada and Implications for Canadian Producers and Accountants.”
Speakers: Sander Jansen & Chris Jameson

“PJVA CO&O Agreement”
Speaker: Tim Riemer

"Sandler's Change Management Triangle: Change in 4 Step"
Speaker: Hamish Knox

Qualifies for Educational Credits