PASSA Meeting – February 19, 2025

Speaker 1: Kirk Foreman – 11:00 – 11:50 am

Topic: PRUTCOM Update (Publication Reopening for Updates, Technical Corrections, or Modernization), Rewrite of AG-9 Vendor Audits and MFI 35 Employee and Contractor Training Costs

This session will consist of a presentation and discussion of the PRUTCOM Committee and Document Review Task Force differences, prioritization, and next steps.

Learning Objectives:

By the end of this session, you will be able to:

• Describe the Document Review Task Force and PRUTCOM recommendations.
• Discuss the changes and issues the document may need.
• Ascertain and provide feedback on the direction for committees.

Program Level: Intermediate

Pre-requisite: Some familiarity with the COPAS documents, their purpose and use, as well as some familiarity with general accounting standards

Advance Preparation: None

Delivery Method: Group Live

Field of Study: Specialized Knowledge

CPE Credits: 1.0

Speaker Bio – Kirk Foreman retired from EOG Resources in April 2021 as Accounting Manger over frac sand purchase and delivery, Lease Accounting, and Lease Operating Expenses for the Eagle Ford San Antonio division. He has worked in the Oil and Gas Industry for 35 years. He currently serves as President of the San Antonio COPAS society and serves on the COPAS National board of directors. Kirk holds a BBA in Accounting from the University of Texas at

Arlington and is a Certified Public Accountant. He currently works as an Oil and Gas accounting/audit consultant (Kirk Foreman Consulting KFC).

Speaker 2: Dan Hodgson – 12:10 – 1:00 pm

Topic: Gas Settlement Statements

This session will consist of a presentation and discussion of gas plant accounting gas settlement statements.

Learning Objectives:

By the end of this session, you will be familiar with:

• Basic methods of gas settlement calculations.
• Gathering and processing schematics.
• Sections of the “Percent of Proceed Settlement Statement”.

Program Level: Intermediate

Pre-requisite: Some familiarity with Oil and Gas Revenue Accounting

Advance Preparation: None

Delivery Method: Group Live

Field of Study: Specialized Knowledge

CPE Credits: 1.0

Council of Petroleum Accountants Societies (COPAS), Inc. 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.nasbaregistry.org.

Speaker Bio

Education

• BBA Accounting – University of Houston.
• MS Accountancy – University of Clear Lake.

Certifications

• CPA – Certified Public Accountant – Texas.
• APA® – Accredited Petroleum Accountant – COPAS.

COPAS

• Former Chair of COPAS National Midstream/Downstream Sub-Committee.
• Current PASSA Secretary and Chair of the Revenue Committee.
• Former Vice-Chair of the Board of Examiners for the APA® – Accredited Petroleum Accountant Program.

Experience

• 30+ years of experience in oil and Gas Midstream.
• I am currently an Auditor with Revenew International, LLC.