CiteTEXT
...." Hoskins also challenges the court's inclusion of the COPAS overhead costs.
BP does not join Hoskins in this point of error...limitation to Defendants' obligation to account to Hoskins and BP, and therefore no time bar to any of their claims; and (ii) the COPAS production overhead should be allowed as reasonable and necessary...-tenants."
(2) COPAS Overhead. Hoskins further claims the COPAS overhead costs permitted by the trial court...
...' Corporations and the below market COPAS overhead rates which had been gratuitously established by Sheldon K. Beren, Berenergy was unable to complete the sale of its working interests.
Essentially...' corporations, which are the defendants here. Beren caused Berenergy to charge defendants $150 per well per month for overhead, a rate significantly below the industry standard.... Discussion
Berenergy's case concerns the rate that it charges defendants for operating overhead. Berenergy asked the court to declare that there was no oral contract that...
...Lesikar's execution of a. [stipulation of interest; b. COPAS or other document indicating an agreed lease overhead charge; and c. [o]ther necessary documents finalizing the parties' dispute...document indicating an agreed lease overhead charge," it sought to effectuate such a release. Yet, therein lies another problem for neither the "COPAS or other document" mentioned are part of the...executed. To the extent that the trial court held otherwise, it erred. So too did it err if by requiring Lesikar to sign a "COPAS or other...
...in the non-operators' monthly overhead charges from approximately $175 per well to over $530 per well.
When Texas Crude converted to COPAS, it did not send notice to the non...is one method for allotting overhead expenses to the non-operators. The method provides for a fixed rate per well plus a portion of camp and district expenses allocated on a per well basis among the...wells in the district.
In 1969, ARCO sent a letter announcing that it was switching to the Counsel of Petroleum Accounting Societies ("COPAS") method of accounting on all...
...The JOA and attached COPAS accounting procedure were based on standard industry model forms. The accounting procedure provided for the operator to charge an overhead rate "as compensation for...by CAROL M. HANSEN, Judge:
¶ 1 This case arises from a dispute regarding overhead charges under an oil and gas lease joint operating agreement (JOA) and its...attached Council of Petroleum Accountants Societies (COPAS) accounting procedure. The operator under the JOA, Defendant/Appellant Oneok Resources...
...decision to increase overhead, to hire a production supervisor, and to engage in repair operations without submitting an AFE. The JOA's COPAS accounting procedures allow for an annual adjustment as of the...did not file a pleading alleging breach of contract. There is no question that Paint Rock breached the JOA by mailing its JIBs late. The JOA includes a standard COPAS accounting procedure exhibit....
When Schroeder received Paint Rock's invoices, he reviewed them and saw several charges he disagreed with. Schroeder's objections were to the increased overhead...
...not use those COPAS percentage rates to determine the amount of its overhead with respect to the construction" of the West Ford Flat plant. (Id.) The Superior Court ordered that SAI Trust be..., interest income from overnight deposits, escrow balance, royalty payments, lease operating expenses, overhead, property taxes, capital additions (major construction), capital additions (overhead...the Agreement for Purchase and Sale of Asset. . . ." (Id., A-1123.) Overhead is described as: "Computed at 15% of Lease Operating Expenses as specified in the Agreement." (Id...
..., gathering and pipeline cost and the cost of operating the well(s), inclusive of overhead charges as defined in the Copas attached to a [joint operating agreement], and further including prospect...
..., workover expenses, taxes, and lease operating expenses. The COPAS Charges, on the other hand, represent overhead costs indirectly associated with “field-level” activities that are necessary to maintain and...“Unallocated G&A” means those Indirect Costs that are not COPAS Charges; Mr. Zelin's “Unallocated Overhead” and “Unallocated Land Expense” mean all Indirect Costs...Mr. Sambrooks, COPAS establishes guidelines for assigning indirect overhead costs on a well-by-well basis and such overhead costs include, among other things, inventory, human resources, and...
MOTIONS (Beta)
...” as defined in the overhead provision. The MFI was drafted to “explain, interpret and elaborate on the provisions of the COPAS - 1984 Onshore Accounting Procedure'-after which the parties' contracts...to the Paden agreement. Dkt. # 85, at 25; Dkt. # 80, at 35. The other COPAS forms published after the PRSA support an opposite conclusion. For example, the MFI for “Overhead Principles,' published in...plainly contemplate revenue accounting and royalty disbursement, and provide for a fixed overhead fee that accounts for NDL's administrative costs. The Eight East Amended PA and the COPAS guidelines...
...consent is to be exercised. The COPAS specifically stated the amount that a non-operator may be charged for overhead. The gross negligence/willful misconduct requirement applies to any and all claims...allegations for breach of contract.
This document is typically referred to as a "COPAS" and is so referenced herein...in operations under this agreement shall be borne and paid . . . by the parties." The COPAS provides that "[m]aterials purchased shall be charged at the price paid by Operator." Evidence was offered...
...(exhibit C), and a gas balancing agreement (exhibit E). These exhibits are discussed below.
B. Exhibit C to Form 610, the COPAS Accounting Procedure Form...
The Council of Petroleum Accountants Societies (COPAS), a national organization since 1961, has issued a succession of accounting forms which serve as the primary source of oil and gas accounting...standards in the industry. The accounting procedure forms issued by COPAS are intended to be used as an exhibit to Form 610. (McArthur, A Twelve-Step Program for COPAS to Strengthen Oil and Gas...
MOTIONS (Beta)
..., protection and maintenance" of the joint property on which drilling takes place. Council of Petroleum Accountant Societies ("COPAS...Form Operating Agreement, and Council of Petroleum Accountant Societies ("COPAS") Accounting Procedure Joint Operations. Form 610 is a standard form agreement used frequently in joint oil drilling..., drilling and development.
COPAS developed the Accounting Procedure for use in conjunction with the AAPL Operating Agreement. The Accounting Procedure allocates the liabilities and...
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MULUGETA ABEBE, ET AL. v. SOLOMON HAILE BIRHANE, ET AL.
Gary D. Copas, Nashville, Tennessee, for the appellants, Solomon Haile...parties had an agreement that once overhead was met the Raceway Store would repay Plaintiffs their capital contribution. Defendants appeal to this Court. We affirm...., and JOHN W. MCCLARTY, J., joined. Gary D. Copas, Nashville, Tennessee, for the appellants, Solomon Haile Birhane and Frehiwot Tesfagzi. Lynda F. Jones and Maria Pardue, Nashville, Tennessee, for the...
...billing as direct costs items which were also included in the "combined fixed rate" overhead charge. The trial court's finding the same acts or omissions of Amoco formed the basis of each class member's...coordinator, J.D. Shearrer, testified Amoco relied on COPAS agreements in determining what was chargeable to the joint account. He agreed Amoco gave a standard response to audit exceptions based on the COPAS...provisions. In addition, Lobo entered into evidence an April 10, 1995 meeting agenda of Amoco's "COPAS Review Committee," which showed Shearrer was to give a "[s]hort presentation on how we are `double...
...operator. The other agreement was an “Operating Agreement,” which attached an accounting procedure referred to by the parties as “COPAS,” the acronym for the Council of Petroleum Accountants Societies.... Under COPAS procedures, a “Joint Account” was established as a means of “showing the charges paid and credits received” for the oilfield operations. The COPAS procedures also gave Mack Energy the...right to have the joint account audited. Mack Energy invoked the right under COPAS to have an audit from the inception of the joint account through December 2010. Accountant Dan Huey...
...by the parties as “COPAS,” the acronym for the Council of Petroleum Accountants Societies. Under COPAS procedures, a “Joint Account” was established as a means of “showing the charges paid and credits...received” for the oilfield operations. The COPAS procedures also gave Mack Energy the right to have the joint account audited.
Mack Energy invoked the right under COPAS to have an...of the Council of Petroleum Accountants Societies, the same organization that promulgated the COPAS procedures to which the parties were bound by the Operating Agreement. During the hearing, the...
...("COPAS") and has served on the tax committee and the audit committee for the Permian Basin chapter. COPAS is the recognized authority for the petroleum accounting industry and is responsible for...method rather than the widely used and industry approved COPAS accounting procedure. . . ." Specifically, the Casses refer to Eldridge's use of a "Contract Compliance Verification Procedures." The Casses...COPAS Bulletin Number 3, Paragraph B which states that an expenditure audit of a joint account serves two main purposes: verifying and authenticating account charges and assuring compliance...
...pulled up behind the vehicle with overhead lights on, shining into the vehicle, saw the front passenger move his hand into his coat and bend forward and then straighten up. Both believed that he had...) occupants. Koches testified as to observing that conduct of Bachand. The petitioner testified that the officers had not put on the overhead lights until he had gotten out of the vehicle, the vehicle's...petitioner must show that there is reasonable probability that but for counsel's unprofessional errors, the result of the proceedings would have been different. Copas v. Commissioner...
...is “a means of estimating actual costs,” at least in the joint venture context, based on the Counsel of Petroleum Accountants Societies (“COPAS”) model for joint operating agreements....
Similarly, with respect to Frontier's proposal to reduce the royalty deduction by 20% based on the COPAS standard in the...joint-venture setting, the court is not persuaded. First, there is no basis in the Hudson Agreement for the discount that Frontier proposes or for incorporating the COPAS standards to begin with. If...