Instructor Led Drilling Costs Training
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From Human Resource & Organisational Development Consultancy (HRODC) Postgraduate Training Institute
Upstream Oil & Gas Accounting & Contracts


...nworking interest
* Distinguish between Non-drilling and Drilling Costs
* Appropriately apportion costs to non-drilling and drilling operations, respectively
* Explain the basic principles of Successful Efforts Accounting in Oil and Gas
* Demonstrate mastery of the concepts and issues associated with exploration and drilling operation
* Explain, with minor omissions, the processes
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Upstream Oil & Gas Accounting & Contracts
Advanced Oil and Gas Accounting International Petroleum Accounting 1


...COSTS - SUCCESSFUL EFFORTS
- Income tax accounting for drilling costs
- IDC vs. Equipment
- Intangible Drilling Costs (IDC)
(1) Up to an including the installation of Christmas Tree
* Prior to Drilling
a. G & G
b. Preparation of Site
* During Drilling
a. Drilling contractora s charges
b. Drilling mud, chemicals, cement, supplies
c. Fuel
d. Wages
e. Well
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