News Archive

2023

April - Message from the Board of Directors:
Message from the Board of Directors

EASC has a rich history going back over 70 years connecting financial practitioners and developing accounting guidance and procedures for the Canadian oil and gas sector. In 1950, it was formed as the Petroleum Accountants Society of Western Canada (PASWC). As the Canadian industry expanded its exploration and development boundaries, so did PASC. The Society changed its name to the Petroleum Accountants Society of Canada in 1987 to reach professionals across the country.

Fast forward another 35 years, our industry’s landscape has matured and evolved further. Recent global events prompted us to appreciate the increased value, contributions, and importance of energy security. We also recognize today’s modern efficient energy portfolio encompasses ALL sources of energy, not just petroleum; many industry players are not differentiating, rather they are broadening their product mixes to include alternative and renewable energy sources. In response to this expansion of scope, PASC is transitioning to become the Energy Accountants Society of Canada. This change has been discussed at great length and thoughtfully considered to be the essential next step in progress for the Society.

With the evolution in name comes a concurrent logo change. “Blue Ocean” strategies implement unique approaches, are free from competition and capture new demand. Subsequently, we incorporated a lighter shade of blue to convey our commitment to innovation and recognize how technology pushed our capabilities beyond what we previously thought possible. The lowercase letters emphasize our humility to what is possible in the world. The maple leaf recognizes our proud Canadian heritage as world leaders in ethical energy production. As with prior iterations of the historical PASC logos, the EASC logo is circular to preserve the legacy of the past and our principle of collaboration through inclusivity. Finally, the various interwoven shades of green symbolize our planet and our global connection.

We believe this next step in our Society’s evolution is necessary to ensure the sustainability of our Society while honouring our legacy. We will continue to be leaders in delivering relevant content and information to our stakeholders, including our members, our expanding energy industry, and our communities.

Thank you to our dedicated and future oriented membership who, by voting in favour of this change, demonstrated their whole-hearted support for this initiative and a shared vision for the future of our Society.

Board of Directors
Energy Accountants Society of Canada
March 28,2022

2022

August - Recent Update to the Benchmark Audit Rate:
Recent Update to the Benchmark Audit Rate

Check out our Publications Page to download your complimentary copy of the 2022 Benchmark Audit Rate - GP-05 Joint Venture Audit Benchmark Rate.
March - Insights 2022:
Insights 2022 was once again offered on a virtual platform March 16, 2022 from 8:00 am to 12:30 pm. Here is what some attendees had to say.

"Steve Shrout was great - best presentation/material I have heard in a while."

"PASC does a good job of diversifying the topics."

"Overall, I thought this was one of the better PASC events I've been to since going virtual, so kudos to the whole team on finding these speakers and topics. Again, I'd just like to reiterate my comments above which would be to continue that trend of new and engaging hot topics that are slightly outside what we normally see. Thanks again!"

2021

March - PASC Publications Portal:
PASC's volunteer committees develop publications and standards that help provide a foundation for best practices and common understanding within the field of petroleum accounting. PASC members enjoy complimentary access to the publications as part of their annual member dues. Downloadable versions are available to members, non-members and companies through our subscriber service. All PASC Publications are subject to the PASC Licensing Agreement.
- link
February - PASC COVID-19 Discussion Forum:
In these unprecedented times, PASC has been closely monitoring the evolving information of the COVID-19 pandemic. We are committed to keeping our members and industry partners informed and up-to-date with the most recent and relevant information available to us.
- link

2017

July - 2017 CAPL Property Transfer Procedure:
CAPL has distributed the material associated with the first industry draft of the 2017 CAPL Property Transfer Procedure and is requesting feedback by September 21st, 2016. Please send your organization's comments in an electronic format to Jim MacLean jmaclean@repsol.com.
- link

2016

April - AG-19 Accounting for Shared Pad Site Costs:
PASC is inviting anyone in the industry to please send review comments on the following document to info@petroleumaccountants.com.

This PASC document is a companion document to the recently released PJVA/CAPL document: Pad Site Sharing Agreement (PSSA).

See a copy of the PSSA here and send any comments on this document directly to the PJVA/CAPL contact.
- link

2015

July - Feedback Required for Draft Accounting Guideline:
PASC has issued a draft Accounting Guideline for Distribution of Shared Pad Costs for industry review. Please send any comments to the PASC office by September 1, 2015.

2014

December - Need CPLD Credits?:
Continuous Professional Learning & Development credits are available when you attend any of our courses and luncheons. CPLD credits can also be obtained by volunteering for one of our many committees.

Volunteer

We are currently looking for volunteers for the following Committees:
- Joint Interest Research
- Marketing
- Membership
- Materials & Inventory
Attend

Luncheons and courses count towards verifiable hour credits.
October - Full Cycle Cost of Oil & Gas Luncheon (Annual General Meeting):
Full Cycle Cost of Oil & Gas Luncheon (Annual General Meeting)
- link
October - Course: Intro to Petroleum Tax:
Course: Intro to Petroleum Tax
- link
September - Course: Intro to Petroleum Tax:
Course: Intro to Petroleum Tax
- link
September - Luncheon: Increasing owner facility fee recoveries & reducing owner operating costs through equalizations & 13th Month Adjustments:
Luncheon: Increasing owner facility fee recoveries & reducing owner operating costs through equalizations & 13th Month Adjustments
- link
September - Infonex Accounting and Reporting for Oil and Gas Conference:
Infonex Accounting and Reporting for Oil and Gas Conference
- link
June - 2014/15 Membership Renewal:
2014/15 Membership Renewal! By now you should have received your 2014/15 membership renewal notice. Payments can be mailed by cheque or by credit card over the phone or online.
June - June Luncheon: Full Cycle Cost of Oil & Gas:
June Luncheon: Full Cycle Cost of Oil & Gas [Jun 18]
- link
June - 2-day Course: Introduction to Petroleum Accounting [June 3-4]:
2-day Course: Introduction to Petroleum Accounting [June 3-4]
- link
May - 2014 PASC Education Day:
2014 PASC Education Day (May 15)
- link
April - PJVA/PASC/CAPPA Seminar: 13th Month Adjustments:
PJVA/PASC/CAPPA Seminar: 13th Month Adjustments [April 22]
- link
April - April Luncheon: Modeling, Risk Controls, COSO:
April Luncheon: Modeling, Risk Controls, COSO [Apr 16]
- link
April - 2011 Accounting Procedure (1/2 Day AM Session):
2011 Accounting Procedure (1/2 Day AM Session) [Apr 15]
- link
April - 2011 Accounting Procedure (1/2 Day PM Session):
2011 Accounting Procedure (1/2 Day PM Session) [April 15]
- link
April - The Annual Energy Asset Management Project Showcase:
The Annual Energy Asset Management Project Showcase
Please RSVP to: Grace Chiang - grace.chiang@sait.ca

April 10th, 2014
4:00pm – 7:00pm
3rd floor
Johnson-Cobbe Building at SAIT

Food and beverages will be provided.
March - March Luncheon: Boast Capital SR&ED Credits:
March Luncheon: Boast Capital SR&ED Credits [Mar 19]
- link
February - February Luncheon: Financial Planning:
February Luncheon: Financial Planning [Feb 19]
- link
January - PASC January Luncheon:
PASC January Luncheon [Jan 22]
- link
January - 2011 Accounting Procedure (1/2 Day PM Session):
2011 Accounting Procedure (1/2 Day Afternoon Session) [Jan 20]
- link
January - 2011 Accounting Procedure (1/2 Day AM Session):
2011 Accounting Procedure (1/2 Day Morning Session) [Jan 20]
- link

2013

November - 2011 Accounting Procedure Course [Nov 25]:
2011 Accounting Procedure Course [Nov 25]
- link
November - November 2013 Luncheon:
November Luncheon [Nov 21]
- link
October - October Monthly Mailer is now available!:
October Monthly Mailer is now available!
- link
October - 2013 PASC AGM:
2013 PASC AGM [Oct 17]
- link
September - Course: Intro to Petroleum Tax - Afternoon Session:
Course: Intro to Petroleum Tax - Afternoon Session [Sept 17]
- link
September - September Luncheon:
September Luncheon [Sept 16]
- link
June - June 2013 Luncheon - Bring Your Engineer To Lunch:
June Luncheon: Bring Your Engineer To Lunch, June 5, 2013
June - PASC 2-day Course: Introduction to Petroleum Accounting:
PASC 2-day Course: Introduction to Petroleum Accounting, June 3, 2013
- link
May - 2013 PASC Education Day:
The first PASC Education Day will be held on Thursday, May 9, 2013 at the Marriott Hotel in Calgary. The theme for this year is “Leading Through Knowledge."

The first PASC Education Day will be held on Thursday, May 9, 2013 at the Marriott Hotel in Calgary. Registration for this one-day conference can be done online at https://securegs.com/pasc/. The theme for this year is “Leading Through Knowledge”.

Download 2013 preliminary program (PDF)
- link
April - PASC Course: Introduction to the Oil Sands: PASC Course: Introduction to the Oil Sands, April 24, 2013 - link
January - New PASC Course: Introduction to the Oil Sands: New PASC Course: Introduction to the Oil Sands, January 23, 2013 - link
January - The PASC Education Committee is currently looking for potential presenters for the PASC Education Day on May 9, 2013: The PASC Education Committee is currently looking for potential presenters for the PASC Education Day on May 9, 2013 - link

2012

November - PASC Monthly Mailer November 2012: PASC Monthly Mailer November 2012 - link
November - Luncheon and Annual General Meeting: The luncheon and Annual General Meeting at the Fairmont Palliser will be free for PASC members and will feature as the speaker Tom Wierman, Executive Director with COPAS. - link
September - 2013 recommended audit rate: PASC's Joint Interest Audit Committee has released the 2013 recommended audit rate. - link
August - PASC Equalizations Basics Course registration: Registration is now open for the first PASC Equalizations Basics Course of the 2012-2013 season! This course will take place on Thursday October 25th from 8:30AM - 12:00PM at the Pandell Technologies Training Centre. - link
August - September 24th Luncheon Meeting: Larry Yasman presenting at the September 24th Luncheon Meeting. - link
July - 2012 - 2013 PASC Board of Directors: We are pleased to introduce the 2012 - 2013 PASC Board of Directors. Welcome aboard to our new board members, and we look forward to a fun and productive year! - link
July - Wage index adjustment: The recommended wage index adjustment effective July 1 has now been posted. - link
May - The second session of the Equalizations Basics course: Due to high demand, a second session of the Equalizations Basics course is being offered. This course will take place from 1:00 pm - 4:30 pm on Thursday, May 3. To register please click here. - link
April - Product Measurement and Allocation: Product Measurement and Allocation (formerly titled "Product Allocation Exhibit Implementation for Joint Venture Representatives") - link
March - 2011 Accounting Procedure: The 2011 Accounting Procedure and related publications are now available for sale via a site license. - link
March - April 17th Luncheon Meeting: Geoff Zakaib presenting at the April 17th Luncheon Meeting - link
February - March 14 PASC breakfast meeting: View the presentation delivered by Mark Walsh at the March 14 PASC breakfast meeting on â€œIFRS Adoption Done! What Accounting Issues Should Oil & Gas Companies Focus on Now?â€ - link
February - 2012 COPAS Publication CD-ROM: The 2012 COPAS Publication CD-ROM containing all its Accounting Guidelines, Model Form Interpretations and Model Form Modifications is now available. Individual copies or a Corporate Site License can be ordered on-line at the COPAS website, or by calling the COPAS Office at 303-300-1131. - link

2011

December - 2011 Accounting Procedure has been sent to all PASC members: A complimentary reference copy of the 2011 Accounting Procedure has been sent to all PASC members. This copy is available only for personal reference purposes and not to be used for commercial use or reproduction. A site licensing model will be used for commercial use of the 2011 Accounting Procedures. Please keep posted for full details on site licensing arrangements.
November - EASC Gail Quartly Memorial Scholarship: In honour of Gail Quartly, long-term PASC board member who passed away on November 6, 2011, PASC has renamed their SAIT scholarship the PASC Gail Quartly Memorial Scholarship. If you or your organization would like to contribute to an annual scholarship, please contact the PASC office.
October - Student membership: Student membership is available! - link

2010

July - BC Provincial Sales Tax replaced with a Harmonized Sales Tax: - link
July - COPAS Summer Conference: - link
July - 2010 Wage Index Adjustments: - link
June - Luncheon Presentation: - link
January - NEB Proposes Adoption of New CSA Security Management Standard: - link

2009

December - Joint Interest Auditor Code of Conduct - for industry comment: - link
December - Luncheon Presentation: - link
July - EASC Online Courses: - link
June - 1996 Accounting Procedure: - link
June - 2010 Recommended Audit Rate: - link
May - Update on Joint Venture Green House Gas Cost/Credit Allocation Guidelines for Facility Operators and Owners Accounting Guidelines: - link
May - Wage Index Adjustment: - link

2008

July - 2008 Wage Index Adjustment: - link
April - New Accounting Guideline: Joint Venture Green House Gas Cost/Credit Allocation - link
April - Industry Comments: - link

0000

November - Course: Intro to the 2011 Accounting Procedure - AM Session:
Course: Intro to the 2011 Accounting Procedure – AM Session
- link
November - Course: Intro to the 2011 Accounting Procedure - PM Session:
Course: Intro to the 2011 Accounting Procedure – PM Session
- link
November - Course: Equalizations Basics AM Session:
Course: Equalizations Basics - AM Session
- link
November - Course: Equalization Basics - PM Session:
Course: Equalization Basics – PM Session
- link