COURSE

EUCI is authorized by IACET to offer 1.2 CEUs for the course and 0.4 CEUs for the workshop

UPSTREAM ACCOUNTING

May 20 – 21, 2019 EUCI Conference Center

Denver, CO

RELATED EVENT:

MIDSTREAM ACCOUNTING May 22, 2019 | Denver, CO

POST-COURSE WORKSHOP

Oil & Gas 2019 Tax Workshop

TUESDAY, MAY 21, 2019

TAG US #EUCI #EUCIEvents FOLLOW US @EUCIEvents

EUCI is authorized by CPE to offer 12.5 credits for the course and 4.5 for the workshop

UPSTREAM ACCOUNTING May 20 – 21, 2019 | Denver, CO

PAGE 2

OVERVIEWJoin our expert instructor, Alfonso Colombano, for a comprehensive fundamentals course on upstream accounting, financial reporting, and disclosure of oil & gas producing activities. This course is perfect for professionals in exploration and production companies who require an understanding of the issues faced in oil & gas accounting and best practices used by oil & gas accounting professionals.

Topics covered in this course will range from the oil & gas value chain, mineral rights, lease acquisition, and joint ventures to exploration, development and reserves. Additional topics to be covered include the upstream business model, price volatility, marketing, depreciation, depletion, and amortization. Attendees will be equipped with a greater understanding of the financial statements used by exploration and production companies and will gain a comprehensive understanding of the underlying issues faced by accounting and finance professionals.

LEARNING OUTCOMESParticipants will:• Be able to identify how the upstream adds value and fits into the Oil & Gas Value Chain• Review basic Joint Venture Accounting principles, implications and differences between U.S. and International E&P

operations• Discuss the accounting intricacies of upstream accounting and how to account for the diverse types of costs under both

Successful Efforts and Full Cost Accounting Methods• Assess how the results of upstream operations are reported in the financial statements and how companies should be

valued• Identify the importance of hydrocarbons reserves, how are they categorized and why they are important for an E&P

company• Review the similarities and differences in Revenue Accounting between U.S. and International, particularly with the

administrative complexities that come with private mineral rights ownership

WHO SHOULD ATTEND• Accountants• Financiers• Managers• Directors• Book keepers• Administrators

INSTRUCTIONAL METHODSPowerPoint, Lecture, Discussion and Q&A will be used in this program.

REQUIREMENTS FOR SUCCESSFUL COMPLETIONParticipants must sign in/out each day and be in attendance for a minimum of four hours to be eligible for any continuing education credit.

UPSTREAM ACCOUNTING May 20 – 21, 2019 | Denver, CO

PAGE 3

AGENDAMONDAY, MAY 20, 2019

8:00 – 8:30 am Registration and Continental Breakfast

8:30 am – 5:00 pm Course Timing

11:30 am – 12:30 pm Group Luncheon

Morning Session

Introduction the Oil & Gas Value Chain• Upstream• Midstream• DownstreamMinerals Rights• US• International• Complexity of Private OwnershipTypes of Companies• Independent

o Sample Financial Statements• Integrated

o Sample Financial StatementsAccounting Standards• Successful Efforts• Full Cost• Examples of Companies Using EitherLease Acquisition• Accounting• Types of LeasesJoint Venture• Joint Operating Agreement• Accounting for Costs• Impacts to Financial Statements

Afternoon Session

Exploration• Types of Costs• Successful Efforts• Full CostDevelopment• Types of Costs• Successful EffortsDrilling• Types of Costs• Intangible Drilling Costs

o U.S. Income Tax Deductibility

UPSTREAM ACCOUNTING May 20 – 21, 2019 | Denver, CO

PAGE 4

MONDAY, MAY 20, 2019 (CONTINUED)

Production• Types of CostsHydrocarbon Reserves• Definitions• How Reserves are Calculated• SEC Requirements• TypesUpstream Business Model and Price Volatility Implications• Production• ReservesRevenue Accounting• Production Sharing Agreements• US Revenue Accounting

TUESDAY, MAY 21, 2019

8:00 – 8:30 am Continental Breakfast

8:30 am – 12:30 pm Course Timing

Oil & Gas Marketing• U.S. Natural Gas Marketing• U.S. Crude Marketing• International LNG Marketing• International Crude MarketingDepreciation, Depletion and Amortization DD&A• Depreciation• Depletion• Amortization• Units of Production (UOP) Depreciation

o Proved Reserveso Proved Developed Reserves

• Area of Calculationo Wello Fieldo Subtopic

• Differences Between Conventional and Unconventional Wells and DD&A RatesConclusion• Recent Price Developments• Supply• DemandQuestions and Answers

AGENDA

UPSTREAM ACCOUNTING May 20 – 21, 2019 | Denver, CO

PAGE 5

POST-COURSE WORKSHOP

Oil & Gas 2019 Tax WorkshopTUESDAY, MAY 21, 2019

OVERVIEWLearn what you need to know about oil & gas tax accounting in this half-day workshop instructed by accounting expert, Alfonso Colombano. Attendees of this workshop will learn about tax issues faced at all stages of oil & gas production: upstream, midstream, and downstream. Topics such as excise and sales tax, duties, property taxes, and inventory, will all be discussed. Complex tax issues around master limited partnerships, depletion, depreciation, and other crucial topics in oil & gas tax accounting will be explained and simplified so that attendees can immediately begin applying what they have learned.

AGENDA12:30 – 1:00 pm Registration

1:00 – 5:00 pm Course Timing

Income Tax• Upstream

o Royalty Trusts• Downstream

o Inventory Impactso Manufacturers Credits

• Midstreamo MLP

International Operations & Tax ImplicationsIndirect Taxes• Excise Taxes• Sales TaxesOther Taxes• Duties• Property Taxes/Inventory

UPSTREAM ACCOUNTING May 20 – 21, 2019 | Denver, CO

PAGE 6

INSTRUCTORAlfonso Colombano Alfonso Colombano is the author of the bestseller series of books titled Oil & Gas Company Analysis, which have been used as a teaching tool in the oil & gas industry worldwide. Alfonso has worked for ConocoPhillips, Phillips 66 and Chevron in analytical, commercial & financial roles. Alfonso is a graduate of the University of Houston where he was active in the Energy Association. Alfonso’s expertise encompasses all sectors of the oil & gas industry including upstream, midstream and downstream, which led him to create, write and publish three books on the topic. Mr. Colombano is an avid reader of Forms 10-K and 20-F, financial statements and other external company publications. Alfonso is currently an SAP Financials Consultant working for a large Oil & Gas Company in Houston. Alfonso has published four books so far:• Oil & Gas Company Analysis: Upstream, Midstream & Downstream• Oil & Gas Company Analysis: Petroleum Refining & Marketing• Análisis de Empresas de Petróleo y Gas: Upstream, Midstream y Downstream• Careers in the Oil & Gas Industry: A Guidebook of Practical Advice

Mr. Colombano is currently working with a co-author on an upcoming book on International Oil & Gas Accounting, to be published later this year.

Alfonso’s expertise encompasses the financial & operational analysis of oil & gas companies, having developed several analytical models for M&A activity and commercial analysis. Alfonso is a well-seasoned public speaker and has been featured at the University of Houston and the Global Energy Leaders Podcast. Alfonso is co-host with Ryan Ray on the Energy Market Recap Podcast. He enjoys reading books about the oil & gas industry and playing golf in his free time.

Additional Background:

• Deep understanding of the upstream, midstream and downstream businesses, having worked asa financial analyst for a Commercial G&P group in the E&P business as well as a financial analyst forthe DCP Midstream JV

• Strong understanding and application of oil & products value chain, from gathering, terminals,refining and marketing of oil and products from an operations and commercial perspective.

• Work experience at gas plants and fractionators (exposure to operations, project management& construction). Analysis of Loss Profit Opportunities (LPO’s) as well as gas plant margin analysis(inclusive of high H2S content gas)

• Commercial gas contract reviews (DCP and Enterprise), reviewed several gas gathering & processing(POP, Fee-based and Keep Whole).

UPSTREAM ACCOUNTING May 20 – 21, 2019 | Denver, CO

PAGE 7

IACET CREDITSEUCI has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET). In obtaining this accreditation, EUCI has demonstrated that it complies with the ANSI/IACET Standard which is recognized internationally as a standard of good practice. As a result of their Authorized Provider status, EUCI is authorized to offer IACET CEUs for its programs that qualify under the ANSI/IACET Standard.

EUCI is authorized by IACET to offer 1.2 CEUs for the course and 0.4 CEUs for the workshop.

CPE CREDITSEUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion. EUCI is authorized by CPE to offer 12.5 credits for the course and 4.5 for the workshop.

EVENT LOCATIONEUCI Conference Center4601 DTC Blvd., B-100 Denver, CO 80237

NEARBY HOTELSPreferred HotelHyatt Place Denver Tech Center8300 E. Crescent Parkway, Greenwood Village, CO 80111 (0.9 miles away)Call Central Reservations at 1-888-492-8847 and ask for the corporate rate of $168 under the Group Code: EUCI. or visit https://denvertechcenter.place.hyatt.com/en/hotel/home.html?corp_id=102338 for the corporate rate using the Group Code: EUCI. (Hot Breakfast included and Free Shuttle to and from EUCI)

REGISTER 3, SEND THE 4TH FREEAny organization wishing to send multiple attendees to this conference may send 1 FREE for every 3 delegates registered. Please note that all registrations must be made at the same time to qualify.

Hyatt Regency Denver Tech Center7800 E. Tufts AveDenver, CO 80237Phone: 303-779-12340.3 miles away

Hilton Garden Inn Denver Tech Center7675 E. Union AveDenver, CO 80237Phone: 303-770-42000.6 miles away

Denver Marriott Tech Center4900 S. Syracuse StDenver, CO 80237Phone: 303-779-11000.7 miles away

PAGE 8

EUCI Conference Center4601 DTC Blvd., B-100 Denver, CO 80237

See nearby hotels on page 7

Substitutions & CancellationsYour registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before April 19, 2019 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of course cancellation, EUCI’s liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at (201) 871-0474.

EVENT LOCATION

PLEASE REGISTER BUNDLE PRICE: UPSTREAM ACCOUNTING COURSE, OIL & GAS 2019 TAX WORKSHOP AND MIDSTREAM ACCOUNTING COURSEMAY 20 – 22, 2019: US $2595 EARLY BIRD on or before MAY 3, 2019: US $2395

UPSTREAM ACCOUNTING COURSE AND OIL & GAS 2019 TAX WORKSHOPMAY 20 – 21, 2019: US $1795 EARLY BIRD on or before MAY 3, 2019: US $1595

UPSTREAM ACCOUNTING COURSE ONLYMAY 20 – 21, 2019: US $1395 EARLY BIRD on or before MAY 3, 2019: US $1195

How did you hear about this event? (direct e-mail, colleague, speaker(s), etc.)

Print Name Job Title

Company

What name do you prefer on your name badge?

Address

City State/Province Zip/Postal Code Country

Phone Email

List any dietary or accessibility needs here

CREDIT CARD INFORMATION

Name on Card

Account Number

Exp. Date

OR Enclosed is a check for $ to cover registrations.

Security Code (last 3 digits on the back of Visa and MC or 4 digits on front of AmEx)

Billing Address

Billing City Billing State

Billing Zip Code/Postal Code

Please make checks payable to "PMA"