COPAS definition

COPAS means the COPAS 2005 Accounting Procedure recommended by the Council of Petroleum Accountants Societies, as interpreted by the Council of Petroleum Accountants Societies of North America under MFI-51 2005 COPAS Accounting Procedure.

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COPAS means the Council of Petroleum Accountant Societies of North America.

COPAS means the Council of Petroleum Accountants Societies.

Examples of COPAS in a sentence

• Such allocations shall be consistent with the guidelines recommended by the applicable Council of Petroleum Accountants Societies ("COPAS") Guideline, as amended from time to time.

• The cost of Field Offices shall be chargeable to the STWDJOA - Exhibit "C" 10 2005 COPAS Accounting Procedure extent the Field Offices prov▇▇▇ ▇irect service to personnel who are chargeable pursuant to Section II.2.A (Labor).

• To avoid the accumulation STWDJOA - Exhibit "C" 22 2005 COPAS Accounting Procedure of surplus Material, the Operator ▇▇▇▇▇d make good faith efforts to dispose of surplus within twelve (12) months through buy/sale agreements, trade, sale to a third party, division in kind, or other dispositions as agreed to by the Parties.

• Awards paid to contractors shall be chargeable pursuant to COPAS MFI- 49 ("Awards to Employees and Contractors").

• In the event Joint Operations are conducted at offshore locations in which Operator may act as self-insurer for Workers' Compensation and Employers' Liability, Operator may include the risk under its self-insurance program in providing coverage under State and Federal laws and charge the Joint Account at Operator's cost not to exceed COPAS recommended rates.

More Definitions of COPAS

COPAS means the Accounting Procedure Joint Operations Recommended by ▇▇▇ Council of Petroleum Accountants, with respect to onshore and offshore operations, respectively, including the most current versions thereof and any other recent versions thereof commonly in use.

COPAS means overhead fees are to compensate the operator for the cost of providing overhead functions, such as accounting, monthly production reporting, etc.

COPAS means COPAS 2005 Accounting Procedure recommended by the Council of Petroleum Accountants Societies, as interpreted by the Council of Petroleum Accountants Societies of North America under MFI-51 2005 COPAS Accounting Procedure, in the form attached hereto as Exhibit B.

COPAS. Counsel of Petroleum Acco▇▇▇▇▇ts Societies.

COPAS means Council of Petroleum Accountants Societies.

COPAS means, with respect to any operations conducted under an applicable operating agreement, the accounting procedures attached and governing such operating agreement and, with respect to any operations that are not conducted under an applicable operating agreement, the COPAS 2005 Deepwater Accounting Procedure recommended by the Council of Petroleum Accountants Societies.

COPAS means the accounting procedures which are a part of an applicable Operating Agreement or, in the event that there is no Operating Agreement in effect, the Accounting Procedure for Joint Operations recommended by the Council of Petroleum Accountants Societies 1995 JOA, (onshore) then in effect with respect to onshore or offshore operations, as applicable, for the location of the Leases.