The Revenue Committee will not meet on the 18^th of November to provide members the opportunity to tour the Terra Nitrogen Plant.  The tour is scheduled to start at 2:30 PM.  The group will depart for the tour immediately after the November PASO luncheon.  Van transportation from the Petroleum Club Building to the facility and back will be arranged.

This plant is the largest single consumer of natural gas in the state of Oklahoma.  For more details about the plant itself, please see the attached brochure.  If you are interested in attending this field trip, please contact me or Jonathon Beene at to be put on the list.  The tour is limited to 30 people and 13 spots are already spoken for.

Revenue Committee News Letter Write Up:

Dick Brewster, Lobbyist for BP America and former member of the Kansas House of Representatives provided an overview of the legislative processes in Oklahoma and Kansas.  In addition, he provided information on issues impacting the Oil and Gas Industry in the up coming legislative session.

If you are looking for a way to network with others in the industry and continue to develop your knowledge, come be a part of the Revenue Committee.

The Revenue Committee will continue to meet at the ONEOK Building Lower Level in Meeting Room #3 after the PASO Lunch or 3:15 PM on the day of the PASO dinner in April.

Agenda for the October 15^th Meeting – Note: Dick was ill on September 16^th. So, Dick Brewster will provide an overview of the legislative processes in Oklahoma and Kansas, Information on issues impacting the Oil and Gas Industry in the up coming legislative session during our meeting this month.

–        Review Agenda for COPAS FALL Revenue Committee

–        Discussion on AG – 15  2^nd Draft for Comments

–   Determine a list of topics of interest for the remaining meetings for the year.

Revenue Committee News Letter Write Up:

This year we plan on offering CPE credits when we have guest speakers for topics related to the oil and gas industry.  In addition, we will have two or possibly three joint meetings with the Mid-steam/Down-stream Committee.  Due to our guest speaker illness on September 16th, Dick Brewster, Lobbyist for BP America and former member of the Kansas House of Representatives will be our guest speaker during this month’s Revenue Committee meeting.  He will provide an overview of the legislative processes in Oklahoma and Kansas.  In addition, he will provide information on issues impacting the Oil and Gas Industry in the up coming legislative session.

List of possible agenda items for future Revenue Committee meetings discussed during the September Revenue Committee meeting:

• The role of a Geologist in un-conventional plays
• The role technology plays in the industry today
• An overview of the various tax credits available with states in the Mid-Continent
• Review and Update COPAS Guidelines related to Oil
• An end of the Legislative session update on Regulatory and Legislation during the May 2009 meeting – Bob Wilkinson ConocoPhillips
• State Tax Audits – Possible topic for November Meeting – Dave Breibeck ConocoPhillips

Joint Meeting with Mid-stream/Down-stream

• Gas Processing Plant Tour
• Drilling Rig Tour,
• Tour of ConocoPhillips Museum
• Overview of Mid-Stream Oil and Gas Accounting and the Impact on Upstream Revenue Accounting
• Tour of  NGAEO Nitrogen Plant in Catoosa

If you are looking for a way to network with others in the industry and continue to develop your knowledge, come be a part of the Revenue Committee.

May 19, 2009

The meeting was called to order at 1:30.  The COPAS anti-trust statement was read.  There were 17 individuals present representing 6 companies.

The spring meeting in Anchorage was discussed.  All Joint Interest voting items were passed.  From the Emerging Issues meeting, the topic of spud date spurred a lively discussion.  The JI Committee was asked to form a project team to address spud date.  A new society was added – ARK-LA –TEX.  PASCO was denied membership again.

We reviewed draft 2 of AG9.  A comment regarding the drafting team’s response to a comment on Draft 1 was discussed.  No additional comments were provided.  This will be a voting items at the Fall meeting in Branson.

We did not have any comments for Draft 2 of MFI-18.  This will be a voting item at the Fall meeting in Branson.  Comments from individuals from the Audit group were discussed regarding MFI-21, AD-1.

Comments may still be forwarded via e-mail to Jennifer Gibson regarding MFI-18 and MFI-21.  They are due by July 15 to the project teams.

As always, ideas are welcome for speakers and round table discussion for the upcoming year.

Submitted by:

Jennifer Gibson

PASO Tulsa Joint Interest Chairperson

Agenda for January 20^th Revenue Committee Meeting:

The Revenue Committee will meet at the ONEOK Building Lower Level in Meeting Room #3 after the PASO Lunch.

Agenda Items:

• Stephen T. Stark, with Stark and Associates will be speaking on “Dollars and Gas Measurement – much more than just metering”.  Mr. Stark has more than 30 years of experience in gas and liquids measurement and related fields.  He has served on numerous measurement committees, including those of the American Petroleum Institute, the American Gas Association and the gas Processors Association.  He also has worked on many measurement standards and has chaired the Southern Gas Association and Gas Research Institute.  Note that CPE credits will be provided for this presentation.  Please invite anyone interested in learning more about gas measurement.  You do not need to be a PASO Revenue member to attend this presentation.

• Update on State and Regulatory Issues
• Discussion on AG – 15  Final Draft
• Discussion on Field Trip to Drilling Test Site

Revenue Committee News Letter Write Up:

Ardis Bartle, Rep. for GCI, ENERSYS, FLOWCAL, ABB AUTOMATION, FREEWAVE TECH., and APEX MEASUREMENT provided a very informative presentation on “Sarbanes Oxley and its Affect on Gas Measurement.”  The presentation addressed the challenges and benefits of implementing Sarbanes Oxley into their Gas Measurement processes and procedures.

If you are looking for a way to network with others in the industry and continue to develop your knowledge, come be a part of the Revenue Committee.

Agenda for February 17^th Joint Mid-Stream/Revenue Committee Meeting:

The Joint Mid-Stream/Revenue Committee meeting will be at the ONEOK Building Lower Level in Meeting Room #3 after the PASO Lunch.

Agenda Items:

–        Ardis Bartle, Rep. for GCI, ENERSYS, FLOWCAL, ABB AUTOMATION, FREEWAVE TECH., and APEX MEASREMENT & CONTROLS will speak on the “Sarbanes Oxley and its Affect on Gas Measurement”.  This presentation will address the challenges and benefits of any natural gas company in implementing Sarbanes Oxley into their Gas Measurement processes and procedures.

–        Update on State and Regulatory Issues

Revenue Committee News Letter Write Up:

Chris Treml, Landman for Newfield Exploration Mid Continent provided an overview of the role of the Landman with the Oil and Gas Industry.  In addition, he provided information on hearings with the Oklahoma Corporation Commission impacting the Oil and Gas Industry and new spacing rules with horizontal drilling.  Bob Wilkinson, Sr. Regulatory Specialist with ConocoPhillips provided an update on State and Regulatory Issues.  The Revenue Committee also voted to approve the Final Draft of AG – 15 Re-write.

If you are looking for a way to network with others in the industry and continue to develop your knowledge, come be a part of the Revenue Committee.

AUDIT COMMITTEE MEETING

February 17, 2009 at 8:30 a.m.

Meeting was called to order at 8:30. The COPAS anti-trust statement was read. There were 13 individuals present representing 5 companies.

Discussed the National meeting in New Orleans held January, 2009.

The first draft of MFI-18 revision was discussed again. The Tulsa Audit Committee was ready to issue pending any changes requested by Tulsa Joint Interest Committee. The rewrite team said that the first draft should be sent out to the other societies by February 27 or March 2. (Since I am late in writing the minutes, I can say that it was sent out on February 27).

The following comments were sent to Michael Simpson for the rewrite of AG-9.

“The Tulsa Audit Committee has the following comments on Draft Version 1 of AG-9.

Page 1 – Line 32, should we add “What type of training program does the vendor have and

how do they handle technical upgrades?”

Line 38, should we add “How is the vendor viewed by the community?”

Page 2 – Line 6, we prefer the word “errors” to “overcharges” because the vendor could

undercharge the operator.

Lines 12, 13 and 14 we would like to change to the following: “or unethical practices by any party or individual involved. This includes the vendor, the contractor, subcontractors and the company requesting the audit. Violations may include:”

Line 32, rather than company’s we think it’s more clear to use “vendor’s”

Lines 32 and 33, is No. 5 really an objective or is it a benefit?  Should it be included in No. 4 of Benefits?

Line 39, (4) should be (5)

Page 3 -  Line 16, delete “of the following”.

Add a line 30a. It would read “What documentation is included with invoice (tower reports)?”

Line 39, change Where to Were

Add line 39a, It would read “Full description on invoice?”

Page 4 – Add line 9a. It would read “Was a full, specific description of work performed (including whether onsite or offsite) provided?”

Add line 24a. It would read “Was full description of service provided?”

Line 36, “address” should be “addresses”.

Page 5 -  Line 19, (3) should be (4)

Page 6 – NONE

Page 7 – Line 25, delete “from the sample selected above”

Line 27, change “Excel” to “spreadsheet”

Page 8 – Line 9, change “D & B” to “business inquiry”

Line 12, change (f) to (h)

Page 9 -  Add a line 13a. It would read “Verify safety and environmental records for OSHA compliance.”

Line 39, change “this” to “there”

Page 10 – Toward the end……Should we have any language that discusses following up with the vendor to ensure they response to the exceptions?  Should we note recommended days to respond?

The Tulsa Audit Committee would like to thank the drafting team for their work in rewriting this document.”

New emerging issue items were requested from the committee.

Meeting adjourned at 9:50am.

Tuesday February 17th, 2009

Oneok Bldg 1:30 PM

Attendance –

Samson

Southwestern Energy

Williams

ConocoPhillips

Cimarex

Newfield

Jennifer Gibson read the anti-trust policy.

Ken Jarrett read the minutes from the New Orleans JI meeting.  Ken shared a concern that was brought up regarding the number so states currently included in the Workmen’s Compensation Rate Survey.  The cost for collecting this information is increasing and it was proposed that 14 states be dropped from the survey.  Ken had sent out an e-mail prior to the meeting listing the states being considered.  Ken requested that any concerns regarding the removal of these states from the survey be directed to him.

Ken is a member of a team that is re-writing TR9 – Petroleum Industry Accounting Educational Training Guide- Section IX, Accounting for Joint Operations.  He needs feedback by 2/27/2009.  He will forward the 1^st draft to Jennifer to distribute to the Tulsa JI members for comment backs to him.

We reviewed MFI 18 – Definitions – Operator and Related Entities.  We made comments.  Lynn Swan, audit chair, was there to note our comments and changes.  This revision has been originated by the audit group so they will send out.  The goal is to get the first draft sent out to other societies by March 1^st.

We reviewed AG-9 – Guidelines for Contractor Audits in the Petroleum Industry.  Jennifer will compile all changes and comments and send a draft to the entire committee to make sure nothing was left out.  Once we agree on the changes Jennifer will send on to the Houston society who originated this.

Meeting adjourned at 3:00 PM.

Next meeting, Catherine Nichols will give a presentation on Microsoft Excel Pivot Tables.

Any speaker topics or additional comments for MFI 18 or AG-9 can be sent to Karen Blakemore () or Jennifer Gibson () prior to 2/27/2009.

PASO  EduEducation Committee Meeting Minutes   February 10, 2009

The PASO-Tulsa Education Committee met in the Memphis Room of the Williams Cafeteria on Tuesday, February 10, 2009. The meeting was called to order at 12:05 p.m.

by Erin Webb. Those attending included:

Jim Jenkins             Erin Webb                  Jonathon Beene

Anita French            Kasi McLaughlin       Randy Wickizer

Randy Wickizer read the anti-trust statement.

PASO Board Update

Randy gave an update on the January 20^th PASO Board meeting.

Two sets of APA study materials have been ordered and received.  They will reside with the Education Chairperson (currently Erin Webb).  Board member Catherine Nichols will be drafting a set of check out procedures.

The Board is searching for candidates to fill the positions of retiring board members Cindy Burton, Gary Wright, and Charles Hancock.  If anyone is interested in serving on the PASO Board of Directors, they may contact PASO President, Rick Jones, or any of the PASO Directors.

The Board approved a request from the Education Committee to purchase a second display table cloth.  Erin Webb ordered it and the new table cloth has been received.

Winter Meeting

We briefly discussed the Winter Meeting held in New Orleans on January 28 – 30.  It was reported that there were approximately 40+ in attendance at it.

Education Committee Name Tags

Erin advised that she is continuing to review samples and working out details with the company that is providing the new nametags for the Education Committee.

June 9^th Gas Plant Accounting Seminar

Tuesday, June 9^th is the date selected for our next Gas Plant Accounting Seminar. Diana Hall has confirmed the date with our speakers, Dennis Casto and Mike Armour.  We discussed the following items relating to the June 9^th seminar:

-          Early Bird prices for COPAS members will be $100, raising to $125 after 4/15/2009.

-          Early bird prices for non-COPAS members will be $125, raising to $150 after 4/15/2009.

-          Erin and Diana will assemble the flier.  Erin will plan to send out to the PASO membership around March 1^st. Anita will send out to the mass distribution list around March 15^th.

-          Anita will receive and coordinate registrations.

-          Kasi will coordinate breakfast and snacks.

-          We plan to use Felinis for lunch.

-          Erin will coordinate printing.  We discussed using Kinkos again. Erin may also get a quote from Quik Print.

-          Jim volunteered to help proof read the slides and text.

-          We have reserved the Tiered Lecture Hall, Room 150, at Tulsa OSU Campus. If our registrations exceed 100 we may decide later to move it to the Auditorium.

December Education Day

We discussed plans for our December Education Day.  We plan to schedule it during the first week of December, 2009.  Erin asked everyone to be thinking about potential topics of interest and speakers.

Next Meeting

Our next meeting is scheduled on Thursday, March 12^th at 11:30 a.m. in the Miami Room of the Williams cafeteria.        (See diagram below for meeting room location)

We adjourned the meeting at 1:00 p.m.

Williams Cafeteria

January 20, 2009 – 10:00 a.m.

Jonathon Beene, Tulsa Midstream/Downstream Co-Chair called the meeting to order at 10:00 a.m. on January 20, 2009.  Scott Lewis read the COPAS anti-trust statement.

After member introductions, the Chair gave an update on the COPAS Midstream/Downstream Special Committee meeting to be held in Anchorage Alaska on April 23, 2009.  Currently two speakers are confirmed, including a representative from ConocoPhillips’ Kenai LNG plant and a representative from Denali Gas Pipeline LLC.  A third speaker from Alyeska Pipeline is in the works.  Jonathon also indicated that the final draft of Accounting Guideline – 15 will be voted on by each committee at the Anchorage meeting.

Next, Vanessa Green with ConocoPhillips gave an informative presentation on LOOP (Louisiana Offshore Oil Port).  Subtopics discussed included LOOP’s history, how LOOP works, LOOP’s impact on our industry, and many other interesting facts.  A brief question and answer session followed.

Meeting was adjourned at 10:55 a.m.  Thirteen members were present representing five companies.

Agenda for January 20^th Revenue Committee Meeting:

The Revenue Committee will meet at the ONEOK Building Lower Level in Meeting Room #3 after the PASO Lunch.

Agenda Items:

–        Chris Treml, Landman for Newfield Exploration Mid Continent will provide an overview of the role of the Landman with the Oil and Gas Industry.

–        Update on State and Regulatory Issues

–        Discussion on AG – 15  Final Draft

–    Determine a list of topics of interest for the remaining meetings for the year.

Revenue Committee News Letter Write Up:

The Revenue Committee did not meet on the 18^th of November to provide members the opportunity to tour the Terra Nitrogen Plant.  This plant is the largest single consumer of natural gas in the state of Oklahoma.

If you are looking for a way to network with others in the industry and continue to develop your knowledge, come be a part of the Revenue Committee.