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Midstream Oil and Gas Contracts
Midstream Accounting

January 18, 19 2023 | Online

Sponsored by EUCI

Click Here to register $1695 ($895.00 for each course)

If you are unable to attend at the scheduled date and time, we make recordings available to all registrants for three business days after the event

Two Courses: Midstream Oil and Gas Contracts and Midstream Accounting

Midstream Oil and Gas Contracts

As the effects of the COVID-19 pandemic continue, provisions in midstream contracts are of the utmost importance—including force majeure, minimum volume commitments, and adequate assurance of performance. This event will provide an in-depth look at those matters and give attendees the tools and understanding needed to effectively navigate complex agreements.

Whether the contract is for purchase and sale or gathering and processing; for the engineering, procurement, and construction of pipelines and other facilities; or for master purchase or service agreements; there are many critical areas attorneys and commercial managers must focus upon to create a clear and effective contract for the company. 

This course will provide the following key takeaways: 

  • General contract terms
  • FERC jurisdictional issues
  • Construction contracts
  • Other project development agreements
  • Gathering and processing agreements
  • Pipeline ROW
  • Environment, health and safety issues

Register for EUCI’s Midstream Oil & Gas Contracts course for an in-depth study of key considerations associated with putting a new contract in place, and how to negotiate more effective contracts with suppliers, customers, partners, and other counterparties.  In addition, this course will address the fundamentals and strategies for effective negotiation.  Each attendee will receive sample copies of the types of agreements and contracts discussed during the course. 

Learning Outcomes

  • Discuss interrelationship between midstream contracts and business objectives
  • Describe the basics of contract drafting
  • Review special contract positions
  • Assess environmental and real estate issues with midstream contracts
  • Explain downstream sales of oil, natural gas, NGLs, and other petroleum products
  • Describe gathering and transportation agreements
  • Address processing and fractionation agreements
  • Discuss confidentiality agreements



9:00 -9:30 a.m. :: Welcome and Introduction

9:30 – 10:00 a.m. :: NAESB Gas Purchase and Sale Agreement

10:30 – 10:45 a.m. :: Morning break

10:45 – 11:15 a.m. :: Legal Framework for Midstream Contacts

11:15 – 11:45 a.m. :: Asset Management Agreements

11:45 – 12:15 p.m. :: Negotiated Rate Agreements

12:15 – 1:00 p.m. :: Lunch Break

1:00 -1:30 p.m. :: Pipeline Precedent Agreements

1:30-2:00 p.m. :: Throughput and Deficiency Agreements and Firm Oil Pipeline Transportation Agreements

2:00 – 2:30 p.m. :: Gathering and Processing Agreements

2:30 – 2:45 p.m. :: Afternoon break

2:45 -3:15 p.m. :: Contract Renegotiation

3:15 – 3:45 p.m. :: Interconnection Agreements for Gas and Oil Pipelines

3:45 – 4:15 p.m. :: Gas Quality and Interchangeability Considerations in Interconnection Agreements

4:15 – 4:45 p.m. :: Conclusion


Glenn Benson, Partner, BakerHostetler

One of the country’s leading representatives of onshore and offshore oil and gas producers on regulatory matters, Glenn Benson brings more than 24 years of experience and an uncommon familiarity with the Federal Energy Regulatory Commission (FERC) to his role on the BakerHostetler national Energy Industry practice team.

He counsels clients across the energy industry on tariff and contract disputes before FERC, regulatory compliance and enforcement, and the negotiation of commercial transactions, including power purchase agreements, interconnection agreements, pipeline precedent agreements, asset management agreements, and oil and gas purchase and sale agreements.


Midstream Accounting

January 19, 2023 | Online

Join EUCI for a 1-day fundamentals course on midstream accounting.  Gas processing, NGL  transportation and fractionation, oil, and the transportation of these products will be covered. This course is designed for Midstream Professionals who desire an understanding of the issues faced in accounting for gas plants, NGL liquids transportation and fractionation and oil transportation. This primary focus of this class will be on gas, gas processing, natural gas liquids and condensate.

Topics covered in this course will include gas plant gathering and processing operations, fractionator operations, measurement issues of gas and NGLs including component balancing of systems, gas gathering and processing – Allocation and contract settlement (as seen from the viewpoint of both processor and upstream E&P accounting) will also be covered. After completing this course, attendees will be better prepared to apply both the basic and the deeper issues of midstream accounting.

Learning Outcomes

  • Review the challenges of accounting for midstream and where we can make improvements
  • Discuss the basics of midstream – gathering, treating, compressing, delivery
  • Review the basic operations of the gathering, processing and transportation of natural gas, NGL fractionation and oil transportation
  • Identify the fundamentals of gas measurement, liquid measurement and system component balancing including a look at the basics of hydrocarbon structure and characteristics
  • Discuss allocation essentials and accounting of gas gathering & processing and the different types of contracts involved in gathering and processing
  • Review basic economic analysis of processing through a gas plant or fractionator
  • Discuss deeper aspects of measurement and of the use of systems



9:00 a.m. – 4:00 p.m. : CENTRAL TIME

Basics of Midstream – Gathering, Treating, Compressing and Delivery

  • The Balancing Act of Midstream – Capacity
    • Production in (Supply of Product) – Processing – Transportation – End-User Demand
  • Why Process the Gas?
    • Oil Well
    • Gas Well
  • The Basics of Hydrocarbon Molecules and their End Products – Natural Gas, NGLs (Methane, Ethane, etc.), LNG, LPG, Condensate, Crude Oil  
  • The Basics of Measurement of Hydrocarbons – Gas and Liquid – Volume and Analysis
  • Following the flow of the Molecules for Gas Gathering, Treating and Processing, and delivery of Residue Gas and Natural Gas Liquids through Fractionation
  • Component Balancing – Keeping Track of the Flow of Molecules for Gains and Losses and for Ownership
  • Q&A

Basic Allocation and Accounting of Gas Gathered, Processed, Purchased and Sold

  • Types of Contracts – Purchase or Process – As viewed by the Processor and by the Producer
    • Percent of Proceeds/Production
    • Gathering/Processing – Fee
    • Fixed Recovery/Fuel
    • Wellhead MMBtu
    • TIK – Take in Kind
  • Allocations – Application of Simple Math
    • Basics of Allocations
    • Choice of Allocation Basis
    • NGLs, Fuel, Lost and Unaccounted, Residue
    • Condensate/Drip Liquids
    • Other Charges
  • Basic Economic Analysis of Processing through a Gas Plant or Fractionator
    • Frac Spread
    • Margin Reports
  • Deeper Aspects of Measurement and the Use of Systems

Final Q&A


Dan Hodgson, CPA, Accounting Manager, Stakeholder Midstream, LLC

Dan Hodgson is the Accounting Manager for Stakeholder Midstream, LLC., a midstream oil and gas company that provides in-field natural gas gathering, compression, treating, and processing services in the United States. Dan currently focuses on accounting and analysis for oil and gas midstream processing, treating and transmission.

Mr. Hodgson also currently serving on the COPAS APA Board of Examiners and serves as the Chair of the COPAS Midstream/Downstream Subcommittee. Dan Hodgson works to assist management in making significant sound decisions and to raise the standard of Gas Plant and NGL accounting by leading and passing on knowledge and understanding. 

  • BBA Accounting – University of Houston
  • MS Accountancy – University of Houston Clear Lake
  • Texas Licensed CPA
  • COPAS – Accredited Petroleum Accountant
  • COPAS – Current Chair of the Midstream/Downstream Sub Committee
  • COPAS – Currently Vice-Chair of Board of Examiners for Accredited Petroleum Account Program
  • 35+ Year Experience with Midstream Accounting