Fundamentals Of Oil And Gas Accounting

This edition of Wright's indispensable accounting book for the oil and gas industry includes a discussion of the significance of shale and unconventional production as it relates to accounting principles, new definitions of reserves from the Securities and Exchange Commission, and more.

This new edition covers many significant changes impacting the petroleum industry including important updates such as current industry practice issues from a proprietary survey conducted by the Institute of Petroleum Accounting, and practical guidance on new standards of revenue recognition, joint arrangements, consolidated financial statements, and disclosure of interests in other entities which are of critical importance to those involved or interested in the petroleum industry.New chapters covering midstream operations, master limited partnerships, and SEC considerations have been added. The updated text will also address numerous operational issues that continue to evolve with the demand for capital, inherent industry risks, and the impacts of product price fluctuation.

Detailed and expanded to accommodate changes in the oil and gas industry, this text is suitable for both industry and academic mediums. The new international chapter is an overview of current international oil and gas accounting and the problems that companies face in accounting for international operations. The new pipeline accounting chapter deals with accounting under the FERC rules as contrasted with GAAP accounting.

"This book illustrates various aspects of accounting in international petroleum operations. The authors discuss and illustrate international petroleum contracts and related contract accounting issues that arise and contrast U.S. accounting standards with those of other countries which are likely to be applicable to companies operating in international settings. Also included are discussions of petroleum tax regimes encountered around the world"--

Principles and Theory of Oil and Gas Accounting (First Edition) is a textbook on Oil and Gas Accounting covering the Principles, Theory and practical Applications of Oil and Gas Accounting in Oil and Gas operating Companies around the World. Emergence of this book ÒPrinciples and Theory of Oil and Gas AccountingÓ is as a result of our training in B. Sc, M. Sc Accounting and our various researches in the field of Oil and Gas Accounting during our Ph.D research works and our practical experience gained through consultancy services in Oil and Gas related Companies. Oil and Gas Accounting is a relatively new area in conventional Accounting studies. Although, Oil and Gas prospecting, exploration, development and production dates back to 1950s in Nigeria and about 1830s in United States of America and other Countries in the World. This bookÕs main objectives are to contribute to knowledge and to promote further research in Accountancy studies.

Fundamentals of Petroleum Refining presents the fundamentals of thermodynamics and kinetics, and it explains the scientific background essential for understanding refinery operations. The text also provides a detailed introduction to refinery engineering topics, ranging from the basic principles and unit operations to overall refinery economics. The book covers important topics, such as clean fuels, gasification, biofuels, and environmental impact of refining, which are not commonly discussed in most refinery textbooks. Throughout the source, problem sets and examples are given to help the reader practice and apply the fundamental principles of refining. Chapters 1-10 can be used as core materials for teaching undergraduate courses. The first two chapters present an introduction to the petroleum refining industry and then focus on feedstocks and products. Thermophysical properties of crude oils and petroleum fractions, including processes of atmospheric and vacuum distillations, are discussed in Chapters 3 and 4. Conversion processes, product blending, and alkylation are covered in chapters 5-10. The remaining chapters discuss hydrogen production, clean fuel production, refining economics and safety, acid gas treatment and removal, and methods for environmental and effluent treatments. This source can serve both professionals and students (on undergraduate and graduate levels) of Chemical and Petroleum Engineering, Chemistry, and Chemical Technology. Beginners in the engineering field, specifically in the oil and gas industry, may also find this book invaluable. Provides balanced coverage of fundamental and operational topics Includes spreadsheets and process simulators for showing trends and simulation case studies Relates processing to planning and management to give an integrated picture of refining

PETROLEUM ACCOUNTING has earned a reputation as a textbook written in clear terms for all ranges of experience. Since its inception, this textbook has provided petroleum industry professionals with comprehensive coverage of oil & gas accounting. Updated as necessary, PETROLEUM ACCOUNTING remains an important tool in the petroleum accountant's library. In a single volume, the reader will find essential information to understand the intricacies of petroleum accounting. The textbook begins with the basics & continues through the complexities of accounting & reporting. PETROLEUM ACCOUNTING is organized in a straightforward manner & provides concise, to-the-point presentation of material. It features illustrations, examples, copies of oil & gas lease contracts, joint operating agreements, & joint interest accounting procedures. Other major additions & revisions include economics & statistics of the oil & gas industry, standardized measure disclosures, the ceiling test problem for companies using the successful efforts method, spot gas sales, an enlarged chapter on partnership accounting, accounting for reclamation & restoration costs, updated full cost accounting, & analysis of new deferred tax accounting rules.