#045: Fall 2022 COPAS Meeting Returns to Regular Programming

On Season 3 of the Oil & Gas Accounting Podcast, Tom and Phil kick it off with details about the upcoming Fall COPAS meeting, with a guest lineup and schedule reminiscent of pre-COVID. Guests on the episode today are Misty Cooper and Jeff Wright, both on the Hosting Committee in charge of planning the COPAS meeting and from the Dallas Society.

The COPAS Fall Meeting is an opportunity for members of COPAS to come together and vote on different documents that pertain to different areas of oil and gas accounting, network with other professionals, listen to guest experts on accounting topics and get CPE credits for nearly every event.   Listen to what will be voted on, who’s speaking and what presentations are coming up at the event.

The Fall COPAS meeting takes place October 17-21 at The Westin Irving Convention Center at Las Colinas in Irving, Texas. For more information, see the events website here.

Highlights:

2:47 Where the Fall COPAS meeting will be held 

4:55 What events are highlighted this year in the week-long event

8:30 The best part of COPAS meetings

12:57 The MFI 40 Project 

13:03 What other publications & guidelines are being released 

14:39 What COPAS members will vote on this fall 

16:45 What CPE events are available (and how many extra they’ve built into the entire event)

18:22 Why COPAS members should attend this event 

22:26  How to register for the meeting

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#044: The Value of Satellite Imagery in Oil and Gas Analysis With Eric Anderson

On this week’s episode, Tom and Phil are joined by Eric Anderson, Chief Technology Officer for SynMax. SynMax uses imagery and data collected by satellites combined with AI to deliver insight to the oil and gas industry that has previously only been modeled or forecasted. This allows producers, hedgers and energy traders the ability to clearly see what’s happening and make better decisions. Eric explains that the perfect combination of factors have come together with the ability to create something really valuable using satellite imagery for the oil and gas industry and many other industries as well.

Highlights:

4:57 The Start of SynMax

7:17 How much it would cost you to buy your very own satellite

12:04 How the data collected by satellites is used

14:02 How satellites have been used in the past

16:39 Why the data provided by these satellites is important

22:03 Other products SynMax offers

22:18 Dark vessel detection

32:51 Tracking emissions with satellites

About Eric Anderson:

  

Connect with Eric:

www.synmax.com

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#043: How Data Gumbo Can Save You Time and Money with Robin Macmillan

On this week’s episode, Tom and Phil are joined by Robin Macmillan, Chief Sales Officer of Data Gumbo. Robin is giving us all the details on how Data Gumbo’s GumboNet™, a private blockchain, can replace manual processes in your business with automation providing more efficiency, improved business relationships and saving on expenses in the process. Robin also introduces smart contracts and  gives examples of ways they can  work in oil and gas scenarios.

https://www.buzzsprout.com/1158737/10856027-saving-time-and-money-with-data-gumbo-with-robin-macmillan.mp3?download=true

Highlights:

1:34 From a geology degree to drilling

4:42 Handling smart contracts with a private blockchain

8:10 Using a blockchain for transactions and smart contracts

10:58 What is a smart contract?

14:31 The greatest benefits of using smart contracts

20:58 Verifying and testing a contract before it goes into service

23:21 Limitations of a smart contract

35:15 Generating carbon credits

38:33 How to get started with blockchain and smart contracts in the oil and gas industry

About Robin Macmillan:

Robin Macmillan is the Chief Sales Officer at Data Gumbo. With a 40+ year career in energy, he was previously Senior Vice President for Business Development at National Oilwell Varco (NOV Inc.), Manager of Schlumberger Drilling and Measurements in Canada and President at the drill bit company ReedHycalog. He is the current VP of Drilling Services at the International Association of Drilling Contractors (IADC), where he is also Chair Emeritus of the Advanced Rig Technology committee.  He is also former vice-chair of the Society of Petroleum Engineers (SPE) Drilling Systems Automation Technical Section. Robin holds a degree in Geology from the University of Leeds in England. 

Connect with Robin:

https://www.linkedin.com/in/robinmacmillan/

https://www.datagumbo.com/en/

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#042 Developing Your ESG Strategy with Laurie Hoose

https://www.buzzsprout.com/1158737/10781560-developing-your-esg-strategy-with-laurie-hoose.mp3?download=true

On this week’s episode, Tom and Phil are joined by Laurie Hoose, ESG Consulting Project Manager at Plante Moran. Today’s discussion is revisiting a previously discussed topic, ESG, or Environmental Social Governance. A company’s policies around ESG have become more important than ever to the company’s investors, consumers and even the talent that the company attracts to it’s workforce. Laurie shares the big news and changes with ESG over the past year and how Plante Moran can help a company develop an ESG strategy.

Highlights:

2:01 What’s new with ESG?

5:53 The history and evolution of ESG

10:14 Social and governance issues and why they are important to the oil and gas industry

15:47 The starting point for a company that doesn’t have an ESG program in place

21:34 How your network can be an asset when creating ESG policies

23:58 Elon Musk and the lack of criteria around what qualifies a company to be part of ESG Index Funds

About Laurie Hoose:

Laurie has over eighteen years of experience, and helps her clients on their environmental, social, and governance (ESG) programs. This includes helping to align investor requirements and stakeholder requests for ESG disclosures to the organization’s strategic goals, and determine what disclosures are material and how they should be gathered to ensure timely, accurate information that is transparent and reliable. Laurie helps her clients achieve their objectives, identify opportunities, and reduce organizational and investor risk through actionable, measurable, and continuous improvements. Laurie’s educational background includes a BS in computer science from the University of Michigan, and an MBA in international business from Brandeis University, where she focused on Corporate Social Responsibility (CSR). She also obtained a minor in Corporate Environmental Governance from Copenhagen Business School. She is a member of the Project Management Institute (PMI), a certified Project Management Professional (PMP), and is an FSA Level II Candidate for the Fundamentals of Sustainability Accounting credential.

Connect with Laurie Hoose:

www.plantemoran.com

https://www.plantemoran.com/explore-our-thinking/insight/2021/10/esg-reporting-seven-steps-to-get-started

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#041: Uplevel Your Oil And Gas Accounting with Martindale Consultants

On this week’s episode, Tom and Phil are joined by the team from Martindale Consultants. Roger Gann, CEO and president, Rick Roybal, Vendor Compliance Manager, Rick Jones, Accounting Manager and Ryan Woolery, Regulatory Reporting Manager, all join the discussion to talk about the different services they offer to their clients. They also share success stories in each area, like helping a company that was 12 months behind on their accounting get caught up, finding a compliance issue in a contract that brought money back into the client’s company, and helping a company with reporting on over 

800 wells.

Highlights:

2:18 Happy 40th Anniversary to Martindale Consultants!

7:43 Martindale Consultant’s typical client

8:56 The top consulting areas that Martindale offers to the upstream oil and gas industry

11:50 Ryan Woolery on regulatory services and what precipitates a need for consulting in that area

20:40 Rick Roybal on vendor risk management audit services that are offered at Martindale

27:07 Rick shares a vendor audit success story

30:02 The upsides of outsourcing your accounting with Rick Jones

Connect with Martindale Consultants:

www.marticons.com

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.www.copas.org

#040: Uplevel Your Oil and Gas Upstream Accounting with Magnum Forge

This week’s episode is part one of a series that highlights oil and gas upstream consulting firms. Today’s guest is Russell Corl, a managing partner at Magnum Forge. Russell gives us an inside look at the struggles some of his clients, especially with regards to becoming more efficient and automating as much backend as possible, and how his consulting firm partners with operators to do just that. Magnum Forge is always excited to meet new clients and help them do a better job of running their systems so they can focus on what they’re best at, which is producing oil and gas.Tom, Phil and Russell discuss the top four areas of consulting that Magnum Force provides to the upstream oil and gas industry and why building and cultivating relationships is so important to his company.

Highlights:

1:49 From the IRS to a boutique consultancy

4:36 Magnum Forge and the clients they serve

9:12 Why relationship building is so important at Magnum Forge

13:54 How Magnum Forge helps select and implement big software migrations and decisions

20:52 Some of the pitfalls that are possible when you don’t have the help of a consulting company

23:02 What precipitates the need for a consultant in the area of acquisition 

27:51 How to optimize the accounting platform you’re using

About Russell Corl:

Since beginning his consulting career in 1996, Russell has focused on developing strategies to ensure the effective use of IT. His background includes an in-depth understanding of accounting and finance, operations, and technology. He has led multiple IT and application projects focused on financial applications, ERP, custom development, and cross-system reporting and integration. His specialties lie in troubled ERP systems, complex system implementations, and significant financial or cost accounting reporting issues.

Russell’s clients include major international oil companies and independent E&P companies. He has assisted most of these clients with software selection, implementation, and enhancement projects that span the entire enterprise. He has also led efforts to redesign and implement new data collection and reporting processes, including technology, training, and change management.

Russell received a Bachelor of Science and a Master’s of Business Administration from The University of Texas at Austin.

Connect with Russell Corl:

www.magnumforge.com

https://www.linkedin.com/company/magnum-forge

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#039: How To Start A Successful Bitcoin Mining Operation Using Natural Gas with Chris Halvorson

On this week’s episode, Tom and Phil are joined by Christopher Halvorson, co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC. Christopher shares his journey with mining cryptocurrency that started in 2019 when he was approached about buying stranded natural gas in well sites and using it to mine cryptocurrency. He talks about the importance of understanding the capital and expense side of crypto-mining before getting started with it, the learning curve involved and the lessons he has learned so far.

Highlights:

3:58 Stepping into bitcoin mining

6:48 How to get started with cryptocurrency

12:37 A ‘walk before you run’ process

17:04 Application Specific Integrated Circuits(ASICs) and their cost

21:14 The benefits of being off-grid for Magellan LLC

28:19 Handling security at data centers

35:29 Effects of mining with natural gas on the lease agreement

40:26 Lessons Christopher has learned during his time mining

About Christopher Halvorson:

Christopher Halvorson is the co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC an off-grid, decentralized digital asset technology company supporting blockchain ecosystems. Mr. Halvorson has 25 years of proven financial and corporate leadership experience with a track record of creating value for both investors and stakeholders alike.

Connect with Christopher:

[email protected]

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#038: Holdbacks As A Possible Solution to Plugging Liabilities with Dwayne Purvis

On this week’s episode, Tom and Phil are joined by Dwayne Purvis, a reservoir engineer and consultant. Dwayne shares his insight on Asset Retirement Obligations, most notably, well plugging liabilities.There are currently anywhere from 2 million to 2.5 million wells that need to be plugged nationwide. Dwayne came up with holdbacks as a way to cover well plugging liabilities by using all net income from a well during certain time periods. Tom, Phil and Dwayne discuss why this is an ongoing issue in the oil and gas world and Dwayne shares why he believes holdbacks could be part of the solution.

Highlights:

2:46 What are Asset Retirement Obligations?

8:43 The estimated number of wells that need to be plugged

11:47 What states have done to avoid the liability of plugging wells

13:43 The problem with using cash flows to fund plugging

14:52 What is a holdback?

19:49 Implications of holdbacks on joint operating agreements

24:11 Why PDP is actually high risk

27:03 ‘You can’t change what you don’t measure.’

About Dwayne Purvis:

Dwayne Purvis, P.E. offers consulting and advisory services for the oil and gas industry, building on two and a half decades in reservoir engineering and executive leadership as a consultant and operator. From engineering studies and reserve reports to strategic decision-making, Mr. Purvis helps operators and investors with reliable analysis for prudent decisions.

He has led or participated in hundreds of engineering studies over dozens of basins in the United States and abroad and advised on tactical and strategic decisions large and small. Mr. Purvis frequently speaks and writes on issues of shale reservoirs, the energy transition, commodity prices, decline curve analysis, and risk analysis.

He is a registered professional engineer in the state of Texas, member of SPEE, AAPG, SEG, SIPES and an active, 25-year member of SPE.

Connect with Dwayne:

www.dpurvisPE.com

https://www.linkedin.com/in/dpurvispe/

Twitter @dpurvisPE

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#037: The COPAS Spring Meeting Is Back In Person!

On this week’s episode, Tom and Phil are joined by three guests in charge of bringing the Spring COPAS meeting back in person after a two-year hiatus. Our guests today are Jennifer McKellar, Karla Zawodny and Ilene Grygar, members of the Petroleum Society of Houston, better known as PASH. Karla currently serves as PASH President and Jennifer is a co-chair. The COPAS Spring Meeting is an opportunity for members of COPAS to come together and vote on different documents that pertain to different areas of oil and gas accounting.  Find out how they had to plan it this year in a post-COVID world, and what is on the schedule for attendees and what everyone most looks forward to each year including The Revenue Committee, The Small Companies Committee and Phil’s favorite, The Hallway Track.

The Spring COPAS meeting takes place April 25-29 at The San Luis Resort in Galveston Texas. Registration is open until Aprill 1,2022. For more information, see the events website here.

Highlights:

6:03 What events are highlighted this year

8:15 Vital documents for oil and gas accountants

9:18 The best part of COPAS meetings

12:57 Why everyone comes year after year

13:41 The little known “hallway track”

17:11 What CPE credits are available

24:21 How to register for the meeting

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

#036: Women In The Oil And Gas Industry: Part 4 with Ginnie Vierra

We’re back with Part 4 of a series that will highlight the voices and experiences of women across the oil and gas industry. Sarah Magruder, President of Safire Oil and Gas Consulting is back as a guest co-host. Sarah, Tom and Phil welcome our next guest, Ginnie Vierra. Ginnie is a Vice President of Finance & Accounting at Presidio Petroleum. She shares how she got started in oil and gas, how her company supports family mindset and all the different hats she wears both in work and in life.

Highlights:

3:12 Ginnie’s childhood aspirations

4:09 Family in the industry

6:01 Ginnie’s career track

10:07 Marriage, motherhood and the industry

11::56 How Presidio supports family mindset

14:27 Kids and pigs

19:07 Support makes all the difference

26:38 A really exciting transaction

30:57 New ways of communic’ation

About Ginnie Vierra:

Ginnie joined the Presidio team as the Controller in June 2018 with 7 years (10 years total now) of energy accounting experience. Prior to joining Presidio, she began her energy career with Silver Oak Energy, LLC, then as the Controller for Broad Oak Energy II, LLC, both funded by Encap Investments LP.

She graduated from Texas Tech University with a BA in Accounting and The University of Texas at Arlington with a MSA in Accounting. She lives north of Fort Worth with her husband Brad and two sons, Brooks (7 yrs old) and Kason (5 yrs old).

About SherWare, Inc.

If you’re enjoying this episode, please subscribe to our podcast and share with a friend! We also love ratings and reviews on Apple podcasts.

SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform — and we’re the only software on the market that can integrate with your QuickBooks company.

Click here to watch a demo of the software in action right now.

About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

Find a society near you.

www.copas.org

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