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Course Co-ordinator:
P Pr ro of f. . D Dr r. . R R. . B B. . C Cr ra aw wf fo or rd d D Di ir re ec ct to or r H HR RO OD DC C P Po os st tg gr ra ad du ua at te e T Tr ra ai in ni in ng g I In ns st ti it tu ut te e
PhD (University of London),
MEd. M. (University of Bath),
Adv. Dip. Ed. (University of Bristol),
PGCIS (Thames Valley University),
ITC (UWI),
Member of the Standing Council of Organisational Symbolism (MSCOS);
Member of the Asian Academy of Management (MAAM);
Member of the International Society of Gesture Studies (MISGS);
Member of the Academy of Management (MAOM);
LESAN;
Professor, HRODC Postgraduate Training Institute;
Visiting Professor, Polytechnic University of the Philippines (PUP).
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Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
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For Whom This Course is Designed
This course is designed specifically for all those who work with financial information and
measures of performance for Oil & Gas Exploration & Production (E&P) activities, and
those seeking to enhance their career prospects within the Upstream International
Petroleum - Oil and Gas - Sector. The group of people who will benefit from this course is,
therefore, inclusive of, but not limited to the following:
Asset Accountants;
Chief Accountants;
Chief Executives;
Drilling & Refinery Managers;
Engineers and Geologist;
Finance Directors;
Finance Managers;
Financial Analysts;
Financial Controllers;
Government Ministers,
Government Regulators;
Internal and External Auditors;
Joint Venture Accountants;
Joint Venture Operators;
Land Office Workers;
Land Registrars;
Landsmen;
Legal Personnel in Upstream Oil and Gas Sector;
Management Accountants;
Managing Directors;
Marketing & Sales Directors & Managers;
Public Accountants;
Treasury Officers;
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Upstream Oil & Gas Accounting and Contracts: Oil & Gas Operations, Mineral Rights, Leases & Successful Efforts
Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 5 of 17
Upstream Oil and Gas External Auditors;
Upstream Oil and Gas Internal Auditors;
Venture Capitalists;
All others with a genuine interest in Mineral Rights, Surface Rights, Fee Interest,
Lease, Royalties, and the Exploration, Drilling, Testing and the Production of Oil
and Gas.
Duration: 6 Days
Cost:
4,800.00 Per Delegate for UK Delivery
6,000.00 Per Delegate for Delivery outside the UK
Please Note:
V.A.T. (Government Tax) does not apply to Corporate Sponsored Individuals, taking
Programmes or Courses in any location - within or outside the UK.
It applies only to Individuals and Corporations based in the UK and to Non-UK
Individual Residents taking courses in the UK.
Cost includes:
Free Continuous snacks throughout the Event Days;
Free Hot Lunch on Event Days;
Free City Tour;
Free Stationery;
Free On-site Internet Access;
Diploma Postgraduate in Upstream Oil and Gas Accounting and Contracts;
or
Certificate of Attendance and Participation if unsuccessful on resit.
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Upstream Oil & Gas Accounting and Contracts: Oil & Gas Operations, Mineral Rights, Leases & Successful Efforts
Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 6 of 17
HRODC Postgraduate Training Institutes Complimentary Products include:
1. HRODC Postgraduate Training Institutes Leather Conference Folder;
2. HRODC Postgraduate Training Institutes Leather Conference Ring Binder/
Writing Pad;
3. HRODC Postgraduate Training Institutes Key Ring/ Chain;
4. HRODC Postgraduate Training Institutes Leather Conference (Computer
Phone) Bag Black or Brown;
5. HRODC Postgraduate Training Institutes 8GB USB Flash Memory Drive, with
Course Material;
6. HRODC Postgraduate Training Institutes Metal Pen;
7. HRODC Postgraduate Training Institutes Polo Shirt.
**Please see product images, as a separate file - Complimentary Products For Students
and Delegates, from HRODC Postgraduate Training Institute.**
Daily Schedule: 9:30 to 4:30 pm.
Location: Central London and International Locations
Schedule - Part 1:
http://hrodc.com/HRODC_Seminar_Schedule_06-
07.International_Seminar_Schedule_UK_Seminars.htm
Click to book this course:
http://www.hrodc.com/Course_Booking_Form_London_Dubai_Kuala_Lumpur_Paris
_Johannesburg_Cairo_Jeddah_Abu_Dhabi_Kuwait_MBA_MSc_MA_Course.htm
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Page 7 of 17
Upstream Oil and Gas Accounting and Contracts: Oil and Gas Operations, Mineral
Rights, Leases and Successful Efforts Accounting
L Le ea ad di in ng g t to o D Di ip pl lo om ma a - - P Po os st tg gr ra ad du ua at te e - - i in n
U Up ps st tr re ea am m O Oi il l a an nd d G Ga as s A Ac cc co ou un nt ti in ng g a an nd d C Co on nt tr ra ac ct ts s
C Co ou ur rs se e O Ob bj je ec ct ti iv ve es s
By the conclusion of the specified learning and development activities, delegates will be
able to:
Accurately account for Disposition of capitalized costs, in reference to the
impairment of unproved properties;
Address problems and issues associated with upstream oil and gas operation;
Address the geological issues relating to the origin, exploration and production of oil
and gas;
Appropriately address Disposition of capitalized costs from the surrender or
abandonment of property;
Appropriately apportion costs to non-drilling and drilling operations, respectively;
Demonstrate a working knowledge of Amortization, with particular reference to the
oil and gas industry;
Demonstrate an appreciation of financial reporting policies and practices applicable
in Oil and Gas Industry;
Demonstrate an awareness of the salient issues associated with the development of
the United States oil and gas industry, as a mark car to International oil and gas
exploration developments and it mining operations;
Demonstrate an understanding of the oil and gas industrial and the activities of each
subsector;
Demonstrate mastery of the concepts and issues associated with exploration and
drilling operation;
Describe the methods of exploration generally used within the oil and gas industry;
Discuss, with examples, the benefits and drawbacks of nonworking interest;
Distinguish between 3D and 4D Seismic;
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Upstream Oil & Gas Accounting and Contracts: Oil & Gas Operations, Mineral Rights, Leases & Successful Efforts
Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 8 of 17
Distinguish between Mineral Rights, Mineral Interests and Fee Interests;
Distinguish between natural and artificial lifts, in oil and gas production;
Distinguish between Non-drilling and Drilling Costs;
Distinguish between the different types of wells;
Explain the basic principles of Successful Efforts Accounting in Oil and Gas;
Explain the contractual issues that are associated with oil, gas and mineral lease;
Explain, with examples, Overriding Royalty Interests (ORI);
Explain, with minor omissions, the processes involved in oil and gas acquisition,
exploration and mining;
Outline the methods of production, employed in the oil and gas industry;
Outline the role of finance and accounting in an Oil and Gas Organisations;
Work through examples of Amortization of exploration and development costs of
proved developed reserves.
C Co ou ur rs se e C Co on nt te en nt ts s, , C Co on nc ce ep pt ts s a an nd d I Is ss su ue es s
Please note that the breakdown represents a guide only and not a rigid arrangement. The
tutor has the right to deviate from the order, as he or she deems necessary. While we aim
to cover as much as possible of the concepts and issues, it is impossible to discuss all
aspects. As a Postgraduate Course, Delegates and Students are expected to conduct their
own research. As for all academic and professional examination, this course assesses
selected knowledge and skills area, for each course iteration (delivery). Delegates and
students should take responsibility for all the contents, concepts and issues that are
presented below.
P Pa ar rt t 1 1: : U Up ps st tr re ea am m O Oi il l a an nd d G Ga as s O Op pe er ra at ti io on ns s
Introducing the Oil and Gas Industry;
Brief History of the U.S. Oil and Gas Industry;
Origin of Petroleum;
Anticline;
Exploration Methods and Procedures;
3-D Seismic;
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Upstream Oil & Gas Accounting and Contracts: Oil & Gas Operations, Mineral Rights, Leases & Successful Efforts
Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 9 of 17
4-D Seismic;
Acquisition of Mineral Interests in Property:
Mineral Rights;
Mineral Interests;
Fee Interests;
Overriding Royalty Interests (ORI);
Retained ORI Production Payment Interest (PPI);
Dutch Carved-Out Production Payment;
Carved-Out Net Profits Interest Created From Working Interest;
Net Profits Interest Created From Mineral Interest.
Oil, Gas and Mineral Lease Provisions:
Lease Bonuses;
Royalty Provision;
Primary Term;
Delay Rental Payment;
Shut-In Payment;
Right To Assign Interest;
Right To Free Use Of Resources For Lease Operations;
Option Payment;
Offset Clause.
Addressing Problems and Issues Associated with Upstream Oil and Gas
Operation.
P Pa ar rt t 2 2: : I In nt tr ro od du uc ct ti io on n t to o O Oi il l a an nd d G Ga as s A Ac cc co ou un nt ti in ng g ( (1 1) )
Oil and Gas Drilling Operations;
BOP (Blowout Preventer);
Bottom-Hole Pressure;
Bottom-Hole Pump;
Drill String;
Rat Hole;
Mouse Hole;
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Upstream Oil & Gas Accounting and Contracts: Oil & Gas Operations, Mineral Rights, Leases & Successful Efforts
Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 10 of 17
Drilling Platform;
Drilling Rig;
Proved Area;
Drill Stem Test;
Derek and Derek Hands;
Cracking;
Field;
Christmas Tree;
Sedimentary Rock;
Seismic Exploration;
Development Well Flowing Well;
Injection Well;
Offset Well;
Stratigraphic Well.
P Pa ar rt t 3 3: : I In nt tr ro od du uc ct ti io on n t to o O Oi il l a an nd d G Ga as s A Ac cc co ou un nt ti in ng g ( (2 2) )
Stratigraphic Test Well or Exploratory Well;
Service Well;
Dry Hole;
Dual Completion;
Dry Natural Gas;
Natural and Artificial Lifts;
Oil and Gas Production and Sales;
Some State and US Federal Oil and Gas Drilling Regulation;
Maximum Efficiency Drilling Rate (MER);
The Concept of Peak Oil;
Historical Cost Accounting Methods;
Historical Development of Accounting Methods and Current Status;
Introduction to Successful Efforts Accounting;
Chart Accounts for Successful Efforts Company;
Oil and Gas Subsectors Upstream, Mid-Stream And Downstream;
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Upstream Oil & Gas Accounting and Contracts: Oil & Gas Operations, Mineral Rights, Leases & Successful Efforts
Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 11 of 17
Horizontal, Vertical and Full Integration within the Oil and Gas Industry;
Addressing Problems Associated with Oil and Gas Accounting.
P Pa ar rt t 4 4: : N No on nd dr ri il ll li in ng g E Ex xp pl lo or ra at ti io on n C Co os st ts s S Su uc cc ce es ss sf fu ul l E Ef ff fo or rt ts s
Introduction to Full Cost (FC) Accounting;
Distinguishing between Non-Drilling and Drilling Costs;
Cost of Identifying Areas that Might Warrant Exploration:
Cost of Topographical, Geological and Geophysical Studies;
Cost of Carrying and Retaining Undeveloped Properties;
Dry Hole Contribution;
Cost of Drilling and Equipping Exploratory Well;
Cost of Drilling Exploratory Type Stratigraphic Test Well.
Successful Efforts Exploration Cost;
Accounts For a Full Cost Company;
G&G Costs:
Reconnaissance Survey;
Detailed Survey;
Shooting Rights.
Obtaining G & G Permits;
Exchanging C & G Studies for Property Interest.
P Pa ar rt t 5 5: : A Ac cq qu ui is si it ti io on n C Co os st ts s o of f U Un np pr ro ov ve ed d P Pr ro op pe er rt ty y S Su uc cc ce es ss sf fu ul l E Ef ff fo or rt ts s
Carrying and Retaining Costs:
Delayed Rental Property Taxes;
Legal Cost for Title Defense;
Clerical and Record-Keeping Costs.
Test-Well Contributions:
Dry Hole Contribution;
Bottom-Hole Contribution.
Support Equipment And Facilities;
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Upstream Oil & Gas Accounting and Contracts: Oil & Gas Operations, Mineral Rights, Leases & Successful Efforts
Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 12 of 17
Problems;
Offshore and International Operations;
Purchase in Fee (Fee Purchase);
Internal Costs;
Options To Lease;
Delinquent Taxes and Mortgage Payment.
P Pa ar rt t 6 6: : A Ac cq qu ui is si it ti io on n C Co os st ts s o of f U Un np pr ro ov ve ed d P Pr ro op pe er rt ty y S Su uc cc ce es ss sf fu ul l E Ef ff fo or rt ts s
Successful Efforts Acquisition Costs;
Internal Costs;
Options to Lease;
Delinquent Tax and Mortgage Payments;
Top Leasing;
Amortization;
Amortization of Exploration and Development Costs of Proved Developed
Reserves;
Impairment;
Disposition of Capitalized Costs Impairment of Unproved Properties;
Disposition of Capitalized Costs Surrender or Abandonment Of Property;
Post Balance Sheet Events;
Disposition of Capitalized Costs Reclassification Of An Unproved Property;
Land Department;
Addressing Issues and Problems in Unproved Property Acquisition Costs.
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Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 13 of 17
Synopsis of Diploma Postgraduate, Postgraduate Diploma and
Postgraduate Degree Regulation
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Delegates studying courses of 5-9 days duration, equivalent to 30-54 Credit Hours (direct
lecturer contact), will, on successful assessment, lead to the Diploma Postgraduate. This
represents a single credit at Postgraduate Level. While 6-day and 7-day courses also lead
to a Diploma Postgraduate, they accumulate 36 and 42 Credit Hours, respectively.
Delegates and students who fail to gain the required level of pass, at Postgraduate Level
will receive a Certificate of Attendance and Participation. The Certificate of Attendance and
Participation will not count, for cumulative purpose, towards the Postgraduate Diploma.
Courses carry varying credit values; some being double credit, triple credit, quad credit and
5-credit, etc. These, therefore, accumulate to a Postgraduate Diploma. As is explained,
later, in this document, a Postgraduate Diploma is awarded to students and delegates who
have achieved the minimum of 360 Credit Hours, within the required level of attainment.
Credit Value and Credit Hours examples of Diploma Postgraduate Courses are as
follows:
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Single-Credit 30-36
Double-Credit 60-72
Triple-Credit 90-108
Quad-Credit 120-144
10-Credit (X36 Credit-Hours) to 12-
Credit (X30 Credit-Hours) 360
Other Credit Values are calculated proportionately.
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Accounting Leading to DiplomaPostgraduate, Accumulating to Postgraduate Diploma, Progressing to MA, MBA, MSc
Page 14 of 17
Because of the intensive nature of our courses and programmes, assessment will largely
be in-course, adopting differing formats. These assessment formats include, but not limited
to, in-class tests, assignments, end of course examinations. Based on these assessments,
successful candidates will receive the Diploma Postgraduate, or Postgraduate Diploma,
as appropriate.
In the case of Diploma Postgraduate, a minimum of 70% overall pass is expected. In
order to receive the Award of Postgraduate Diploma, candidate must have accumulated at
least the required minimum credit-hours, with a pass (of 70% and above) in at least 70%
of the courses taken.
Delegates and students who fail to achieve the requirement for Postgraduate Diploma, or
Diploma - Postgraduate - will be given support for 2 re-submissions for each course. Those
delegates who fail to achieve the assessment requirement for the Postgraduate Diploma or
Diploma - Postgraduate - on 2 resubmissions, or those who elect not to receive them, will
be awarded the Certificate of Attendance and Participation.
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Applicants for Diploma Postgraduate, Postgraduate Diploma and Postgraduate Degrees
are required to submit the following documents:
Completed Postgraduate Application Form, including a passport sized picture
affixed to the form;
A copy of Issue and Photo (bio data) page of the applicants current valid
passport or copy of his or her Photo-embedded National Identity Card;
Copies of credentials mentioned in the application form.
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Page 15 of 17
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On receipt of all the above documents we will make an assessment of the
applicants suitability for the Programme for which they have applied;
If they are accepted on their Programme of choice, they will be notified
accordingly and sent Admission Letters and Invoices;
One week after the receipt of an applicants payment or official payment
notification, the relevant Programme Tutor will contact him or her, by e-mail or
telephone, welcoming him or her to HRODC Postgraduate Training Institute;
Non-European Students will be sent immigration documentation, incorporating a
Visa Support Letter. This letter will bear the applicants photograph and passport
details;
Applicants will be notified of the dates, location and venue of enrolment and
orientation;
Non-UK students will be sent general information about student life in the UK
and Accommodation details.
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There are three delivery formats for Postgraduate Diploma Courses, as follows:
1. Intensive Full-time Mode (3 months);
2. Full-time Mode (6 month);
3. Video-Enhanced On-Line Mode.
Whichever study mode is selected, the aggregate of 360 Credit Hours must be achieved.
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Page 16 of 17
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All short courses can accumulate to the required number of hours, for the Postgraduate
Diploma, over a six-year period from the first registration and applies to both general and
specialist groupings. In this regard, it is important to note that short courses vary in length,
the minimum being 5 days (Diploma Postgraduate) equivalent to 30 Credit Hours,
representing one credit. Twelve 5-day short courses, representing twelve credits or the
equivalent of 360 Credit Hours are, therefore, required for the Award of Postgraduate
Diploma.
A six-day course (Diploma Postgraduate) is, therefore, equivalent to 36 hours Credit
Hours, representing one credit. Therefore, ten short courses, of this duration, equates to
the required 360 Credit Hours, qualifying for the Award of Postgraduate Diploma. While
double-credit courses last between ten and fourteen days, triple-credit courses range from
fifteen to nineteen days. Similarly, quad-credit courses are from sixteen to nineteen days.
On this basis, the definitive calculation on the Award requirement is based on the number
of hours studied (aggregate credit-value), rather than merely the number of credits
achieved. This approach is particularly useful when a student or delegate studies a mixture
of courses of different credit-values.
For those delegates choosing the accumulative route, it is advisable that at least two
credits be attempted per year. This will ensure that the required number of credit hours for
the Postgraduate diploma is achieved within the six-year time frame.
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On the successful completion of the Postgraduate Diploma, delegates may register
for the Masters Degree, after their successful completion of Course #7: Research
Project: Design, Conduct & Report.
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Page 17 of 17
The Delegates Degree Registration Category will be dictated by the courses or
modules studied at Postgraduate Diploma Level. The categories relate to Master of
Business Administration (MBA); Master of Arts (MA) Master of Science (MSc);
Executive Master of Business Administration (Executive MBA). Additional details are
provided in the document entitled: regulation For HRODC Postgraduate Training
Institute Diploma Postgraduate - Postgraduate Diploma and Masters Degree
MA, MBA, MSc.
Terms and Conditions
HRODC Policy Terms and Conditions are Available for viewing at:
http://www.hrodc.com/COSTS.htm
Or Downloaded, at:
http://www.hrodc.com/Brochure_Download_Centre.Company_Brochures_Seminar_Brochu
res_Seminar_Schedule.htm
The submission of our application form or otherwise registration by of the submission of a
course booking form or e-mail booking request is an attestation of the candidates
subscription to our Policy Terms and Conditions, which are legally binding.