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About COPAS and PASPB

The Council of Petroleum Accountants Societies, Inc. (COPAS) was established in 1961 by representatives from various independent local societies throughout the U.S. and Western Canada. These societies recognized the need for standardized procedures and guidelines as the oil and gas industry expanded across the country so that common issues and problems could be addressed in a central forum. The societies wanted to develop standardized documents in areas such as joint interest accounting, auditing, production volume and revenue accounting, and financial reporting and tax matters so that companies operating in all parts of the U.S. and Canada could be more effective and efficient by using the same standards and guidelines. COPAS has operated as a non-profit entity for more than 50 years and has over 4,000 members with 24 societies in the United States and Canada.

The Petroleum Accountants Society of the Permian Basin (PASPB) is a charter member of COPAS. PASPB is a not-for-profit professional organization dedicated to providing our members with opportunities to study and analyze accounting issues in the petroleum industry and to exchange constructive ideas related to these items. PASPB has a membership of 120+ accounting professionals representing more than 40 companies. Monthly meetings are held September through May. Educational opportunities such as technical sessions and seminars are also offered during the year.

Mission Statement and Goals

The objective of the PASPB is to unite and promote strong and cordial relationships among all persons interested in petroleum accounting; to collect and disseminate accounting principles and methods; and to develop, improve and extend the science and art of petroleum accounting.

Our goals are as follows:

• Be a forum for the development, improvement, communication, and implementation of Petroleum Accounting guidelines.

• Encourage members to participate in the local chapters of the COPAS standing committees such as Joint Interest, Audit and Revenue.

• Provide an education program which promotes high standards and uniform practices in the industry.

• Create an environment that encourages the discussion of current issues pertinent to the membership.