2001 Pricewaterhousecoopers Survey Of U S Petroleum Accounting Practices

Results of 2000 study of current accounting practices in the U.S. Oil and Gas industry. Some of the topics included are: costs of offshore well abandonment, cost amortization, proved reserves adjustments, ceiling test calculations, tax calcuations for the standardized measure, net profits interests, production hedging, COPAS overhead received, international activities. Results are reported for All responding Companies, Successful Efforts & Full Cost, Independent & Major, Pulbic and Private.

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.