CAPPA Certificate Program – New Curriculum effective for enrollment July 1, 2019
Please note this page will be updated as new details are finalized. Please check back for updates or speak with your Student Advisor.
The CAPPA Certificate in Petroleum Production Accounting will now be 10 courses along with 2 pre-requisites.
Excel (before enrollment in Course 2)
Basic Financial Accounting Course (before enrollment in Course 6)
For more information on these pre-requisites, please click here.
Course 1 (Previously “Level 1”) – Introduction to the Oil & Gas Industry
This course is for those who are planning on moving into a career in the oil and gas field as well as for those who are employed in the petroleum industry or another related industry who just want to increase their knowledge of the oil patch.
The course provides an excellent overview of the Petroleum Industry including geology, exploration, land and scouting, reservoir engineering, economics, enhanced recovery, drilling, completions and workovers, production operations, oil pipelines, transportation, refining and marketing and the roles of the production, revenue and joint venture accountants.
Course 2 – Field Data Capture, Raw Data, Well Production & Joint
This course will assist students in understanding the sources and types of available information specific to the operation of wells. Topics include; the sources and usage of field data, raw data, well production data and specific data required for Joint venture operations.
Course 3 – Water and Water Volume Confirmations, Oil and Oil Splits
The product flowing from a well is made up of multiple components. In this course students will learn to how to confirm the water and water volume output and the oil and oil splits of producing wells.
Course 4 – Gas and Gas Splits Allocations
It is important to be able to monitor and allocate the production of a well in order to ensure accurate compensation. Gas produced from a single well can be examined as the production of a single well or as part of a large flow. This course introduces students to the calculations and processes required to examine gas production in a single or combined flow.
Course 5 – Volumetrics: Production Accounting Analysis
The volume of gas or oil in a geologic formation and the changes that result from the changes in pressure from an underground formation to the surface has direct impact on the profitability and viability of a field. This course will introduce students to the calculations used to determine and examine the recoverable reserves of a field.
Course 6 – Fee Calculations & Journal Entries, Marketing, Revenue Allocations & Journal Entries, Oil Valuations and EVAP
This course introduces students to the fee calculations and Journal entries relating to product marketing, revenue allocation, oil Valuations and EVAP.
Course 7 – Freehold, Override, IOGC & Unitization
A well or field may be subject to various production, regulatory and royalty conditions that can impact reporting. This course examines the concepts and processes relating to Freehold agreements, Override calculations, IOGC and Unitization.
Course 8 – Crown Royalty Calculations, Reconciliation & Journal Entry, Gas Cost Allowance, Tax Levies and Fees
The calculation of Crown Royalties, taxes and fees is important to the reporting of production and earnings. This course introduces students to the calculations and processes used to calculate Crown Royalties, perform reconciliations and complete journal entries related to gas cost allowance, tax levies and fees related to production.
Course 9 – Production Accounting Software, Accruals, Accounts Receivable Reconciliation & Capstone Case Studies
Through the use of examples and case studies students will learn how to use production accounting software to calculate accruals and complete accounts receivable reconciliations.
Course 10 – Measurement, EPAP & Directive 17 and Oil Sands
This course will introduce students to the unique nature of the oil sands as a source of production and the royalty, cost analysis and reporting requirements for Oil Sands projects. The course also includes activity related to measurement, and compliance with the Enhanced Production Audit Program (EPAP) & Directive 17 Measurement Requirements for Oil and Gas Operations.
The CAPPA Production Accounting Certificate Program is delivered through day or evening classroom, online and distance learning through Southern Alberta Institute of Technology (SAIT) and Mount Royal University (MRU)
A career in Production Accounting is a unique blend of financial accounting, regulatory, data analysis and production reporting. It is a role that requires a balance of technical and behavioral skills. Production accountants receive information from the field, land administrators, joint venture analysts, marketing and financial departments in order to perform monthly requirements of their role. Production Accountants calculate and report volumes of oil, gas and water produced from the wells as well as various other activities at the associated facilities. They also manage the calculation and distribution of revenue, division of ownership, and royalties. The information that the Production Accountant produces is critical to company operations, management and financial reporting.
The program must be completed within 3 years. The passing grade for each CAPPA course is B-.
CAPPA requires all students to complete additional online training modules provided by CAPPA and Petrinex (web-based reporting system). The fee for each course includes access to the online Petrinex modules.
If you have oil and gas experience you may choose to write a challenge exam to the Level 1 course (only) to test your foundational knowledge. The challenge exam is offered by Mount Royal University at a fee set by the institution. Successful completion of the exam allows for course credit at MRU; however, there are no rewrite options if you do not receive a passing grade (B-).
Students who have successfully completed Course 1 – Introduction to the Oil & Gas Industry at SAIT may be eligible to use this course towards the Energy Asset Management Diploma and the Petroleum Land Administration Certificate. Please contact SAIT for more information.
Several Student Awards are available for high performing students and information can be found on the CAPPA website.
Student Membership – Students receive a discounted fee for membership which provides preferred pricing for Educational Luncheons, Seminars, Conference, Networking Events, Social Events along with Career Resources and Job Board.
Students receive a discounted fee for membership which provides preferred pricing for Educational Luncheons, Seminars, Conference, Networking Events, Social Events along with Career Resources and Job Board.
The career outlook for Production Accounting is good, both with the continued growth in the Oil and Gas industry and the future demographic shift as people retire and additional positions open up.