JVViews: February 2014 Issue
Editor's Note
Petroleum Joint Venture Extension Certificates
PASC Education: Introduction to the 2011 Accounting Procedure
Luncheon Director's Note
Upcoming Events
JV Certificate Program Request for Volunteer
- Analyst 2 Course Coordinator
eStudies and Web Based Learning - The JV Analyst I course is now online!
Looking for a New Opportunity?
PJVA LinkedIn® Group
Editor's Note
A Note from the Editor...On January 29th the Early Morning topic of "the All Date Debate" attracted a full house. A copy of the presentation is posted under EMS archive.
One of the "new to me" issues that came out of the discussion relates to Units and effective dates of amalgamations. Alberta Energy (AE) now links directly to the Corporate Registry (CR) and has immediate notification when companies amalgamate.
Accordingly, AE is recognizing the amalgamation effective date, while the Unit Operator will not recognize the change until the first day of the month following as per the Unit agreement. AE effective dates and Unit Agreement (UA) exhibit revision effective dates no longer match. This creates royalty invoicing discrepancies. It appears the Crown is defaulting all royalties including freehold royalties (regardless of whether they have been paid by the other WIO) to the amalgamated company. It's a difficult situation, as the Operator is unaware of the problem created for the WIO.
At such time that the revised exhibit is received and processed, any overpayment is refunded. AE is now only refunding the Crown royalty overpayment back to the effective date of the exhibit revision. This is a change from their past practice of refunding back to the date of the transaction regardless of the exhibit revision date. PJVA is pursuing more clarification from the Crown.
Again thanks to the following: Suncor for providing the location, Shell for sponsoring the coffee, the PJVA for the baked treats and Robyn Lewis with Penn West Exploration and Lorie Caron with the Encana Group for the presentation.
Continuing on with the theme of dates, Imperial Oil discovered the Leduc oil field on 13 February 1947 forever changing the oil industry and the economics of Alberta.
Check out the PJVA calendar for upcoming seminars and events and make a date with family and friends to celebrate the upcoming Family Day weekend.
Joan Lee
Petroleum Joint Venture Extension Certificates
All courses are 35 hours and cost $449. Signup through MRU
| Joint Venture Analyst, Level 1 | ||
| Online courses comment | Feb. 27-Apr. 30 | |
| Joint Venture Administration | ||
| Online courses commence | Feb. 27-Apr. 30 | |
| 12 classes in person | Mar. 4-Apr. 10 | 6:30-9:30 p.m. Tue., Thu. |
| Joint Venture Agreements | ||
| Online courses comment | Feb. 27-Apr. 30 |
PASC Education: Introduction to the 2011 Accounting Procedure
For more informaiton and online registration, please visit PASC web site.
Luncheon Director's Note
Please continue to foward your input on the past year's luncheons as well as any ideas of topics or speakers you would like to see for 2014.Your input is important as the PJVA wants to offer a variety of luncheon presentations that are of interest to the most important aspect of our association - YOU!
We had a variety of topics since September when I took over; from legal, to software to technical. Here's your chance to voice your valued opinion!
- How did you find the past year's topics?
- What would you like to see in the future?
- Are there past luncheons you would like to see revisited?
- Do you know someone who is looking to present?
I look forward to hearing from you!
Cheers to an exciting 2014!
Richelle Lindsay
Luncheon Director, PJVA
Upcoming Events
February Luncheon - February 20, 2014Seminar: Acquisitions and Divestitures - February 25, 2014 - one spot left!
Early Morning Discussion - February 26, 2014
PJVA/PASC/CAPPA Joint Course - Product Measurement and Allocation - March 5, 2014
March Luncheon - March 27, 2014
PJVA/PASC/CAPPA Seminar: 13th Month Adjustments - April 22, 2014 - six spots left!
Land Agreements Overview - April 29, 2014
May Luncheon - May 15, 2014
To Register, please go to PJVA website: https://securegs.com/pjva/
JV Certificate Program Request for Volunteer - Analyst 2 Course Coordinator
Call for Volunteer!Analyst 2 Course Coordinator - JV Certificate Program
The role of Course Coordinator, reporting to the Certificate Program Director, is an excellent leadership development opportunity, and will enhance the incumbent's technical and industry JV knowledge. Course Coordinators will benefit from having previous project management experience, but can also use this as an opportunity to develop a project delivery skill set. Expertise in the field of JV is a requirement.
General Responsibilities will include:
- Maintain a classroom materials database/files and forward to PJVA office
- Manage group of individual volunteers tasked with keeping materials current
- Maintain contact lists for Course Committee, instructors, MRU contacts
- Solicit and compile feedback from Industry, MRU, students and instructors
- Ensure course materials adhere to the PJVA Education brand including exams
- Communicate with JV Certificate Program Director regularly (ie every 2 months)
- Find out and meet any institutional deadlines (ie MRU printing, exam printing dates)
- Lead course reviews, including developing scope and schedule, and managing quality as per guidance from Ed Comm
- Ensure adequate resourcing on team and manage volunteer expectations
- Hold and manage meetings with your group
Participating as a Taskforce Member is an excellent learning experience and networking opportunity and provides the incumbent an opportunity to contribute to the development of future JV professionals.
- Provide input during course material revamps and exam building
- Communicate with Course Coordinator regarding expectations
- Provide expertise both JV and otherwise
- Work collaboratively within the team
Mission Statement
The PJVA JV Certification Program exists to provide fit for purpose training in a convenient format for anyone requiring an understanding of JV principles.
Goals of JV Certification Program
- Provide customized training for JV Industry
- Become industry desired pre-requisite for JV Administrators and Analysts
- Adhere to a PJVA Education brand (have a homogeneous look to all education suite materials)
- Have all applicable courses online
- Uphold and enhance reputation of PJVA and PJVA Education
- Evaluate validity of institutional relationships (ie MRU)
- Keep instructors and material aligned to current industry
- Integration of online courses into certificate program
Certificate Program Director - Tracey Moore-Lewis
Certificate Program Administration - Connie Pruden
eStudies and Web Based Learning
PJVA has a suite of web based courses geared towards practicing and prospective JV professionals and personnel involved in the development and operation of a Joint Venture facility.These courses, available via the eStudies link at www.pjva.ca, are a supplement to the Joint Venture Certificate Program offered through PJVA and Mount Royal University. The courses offered on eStudies are identical to the courses offered at Mount Royal, the only distinction being that the Mount Royal courses are applicable towards the Joint Venture Certificates while eStudies are not. As well, the eStudies courses are offered in segments such that the student can customize and streamline their learning experience.
eStudies courses include Joint Venture Agreements, with modules in Construction, Ownership and Operating Agreements, Unit Agreements, and Service Agreements, Joint Venture Administration as well as Joint Venture Analyst Levels 1 and 2. The Agreements courses offer excellent background knowledge to anyone who works with or is bound by a Joint Venture Agreement. Joint Venture Administration details exactly how work is to be conducted within the legal framework of Joint Venture agreements. The Analyst courses provide understanding of Joint Ventures techniques and processes.
PJVA is excited to offer customizable and accessible web-based learning options to industry professionals. Check out www.pjva.ca today and click on eStudies!
Looking for a New Opportunity?
Check out the PJVA Job Board for recent postings.PJVA LinkedIn® Group
PJVA is now on LinkedIn®, the world's largest professional network. It's a great way to stay connected and exchange ideas with other PJVA members and industry professionals.Click here to join the discussion!
PJVA was incorporated in 1985 to represent individuals and organizations involved in petroleum joint ventures. JVViews is published to keep members informed about upcoming PJVA and industry events, courses and seminars offered and/or sponsored by PJVA and current projects being facilitated by the Association.