CAPPA Seminar:

BC Crown Royalties

February 18, 2016
8:30 am – 4:00 pm
Venue: University of Calgary, Downtown Campus, 906 – 8th Ave. SW, Calgary

Check lobby screen for event room number.

 

Day of Registration: 7:45 am

Meals provided: morning coffee break, Lunch, afternoon coffee break.

Please advise of any dietary restrictions.

TOPIC OUTLINE

In a relatively short period of time, the province of British Columbia has emerged as a major producer of natural gas. The royalty collected by the BC government from petroleum production is expected to be near $400 million this fiscal year.  Activity levels to add more productive capacity through drilling and building new processing facilities has been steady, partly due to the welcoming terms of the royalty regime.

As an accountant responsible for BC royalties, it is critical to both understand and be able explain royalty charges and variances to management. Each province has unique characteristics to their royalty framework and BC is no different.

Topics covered:

  •  Who is Responsible for Royalty Compliance?
  • Pre-Production Reporting
  • Production Reporting
  • Gas Royalty Reporting
  • Gas Price Valuation
  • Gas Base Rate Definitions
  • Production Based Gas Royalty Reduction Features
  • Gas Royalty Credit Features
  • Oil Royalties
  • Royalty Reconciliation and Validation
  • Penalties and Interest

Note: Net Profits Interest (NPI) and Long Term Royalty Agreements (LTRA) are not included

Speaker:

Gary Semeniuk, Senior Royalty Policy Advisor at Shell

Bio:  Gary started his career in the 80’s as a gas plant revenue accountant after completing his Commerce degree at the University of Alberta.  Early on, he developed an interest in royalty administration and policy development; he was drawn to it by the importance of royalties for governments and industry.  Since his first job, he has worked his way through a variety of operational accounting roles at some of the industry’s most recognized names: Amoco, Petrinex, AEC (Cenovus) and Shell.  His responsibilities included equalizations, Gas Cost Allowance, Oil Sands royalty reporting, gas royalty reporting and even a brief stint in Land Admin.  While managing the Revenue group, Gary came to particularly enjoy giving bright, eager people a start in this rich and fulfilling business.

In addition to his “day job”, Gary has previously chaired the CAPP Accounting Committee and the Oil Sands Royalty Committee.  Today, Gary is a member of the CAPPA board and was the founder of the Government/Industry/Emerging Issues committee.  He is a strong supporter of Petrinex and was a participant on the BC inclusion business case project in early 2015.  Gary instructs the CAPPA certificate program and seminars.

Balancing work, Gary has been involved with Junior Achievement, Scouts, the Heart & Stroke foundation and enjoys keeping fit with running 40K each week.  Gary is married with two grown children.

Price:

Members $398 plus GST

Non-members $478 plus GST (not a member? Click here to apply for membership)

Non-member plus new CAPPA membership $523 plus GST 

Registration deadline: midnight February 14, 2016

Cancellation policy:

Cancellations must be received by email to office@cappa.org in order to cancel event registration.

The following refund policy applies to this event:

Full refunds will be given if cancellation to CAPPA occurs prior to midnight on February 3, 2016

A 50% refund will be given if cancellation to CAPPA occurs prior to midnight on February 11, 2016

Refunds will not be given after February 11th.

A $20 administration fee is applies to full and partial refunds.

Registration, however, may be transferred to another attendee without an administration fee. Please notify CAPPA of the transfer to another attendee. The original registrant would be responsible to sort the payment out offline with the new attendee.