Martindale understands that industry knowledge and resources are key components of successful projects. In this section are various COPAS economic factors and other resources that joint venture auditors and oil and gas accountants will use.
Resources
COPAS Economic Factors
COPAS, through its audit and joint interest standing committees, publishes indexes, economic factors, tables, etc. that are used by the oil and gas accounting industry. Many of these factors are components of an operator’s accounting or used on a joint venture audit. MartiCons is not the author of any of these rates and percentages; we include them on our website for your convenience and use.
Revenue Resources
Casing and Tubing Threadloss Tables
Gulf of Mexico Block Abbreviations and Map
COPAS Annual Overhead Adjustment Factors
COPAS model form accounting procedures provide for an annual adjustment of the fixed rate overhead for drilling and producing wells using an index published by the Department of Labor, Bureau of Labor Statistics. The BLS ceased publishing this particular index in 2003. In 2004, the COPAS Joint Interest and Audit Committees created a replacement percentage from two other BLS indexes to allow the industry to continue to have a mechanism for adjusting overhead rates. Click the below link for an Excel calculator to help you to calculate a given period’s overhead rate.
Click here for a COPAS Adjustment Calculator
| COPAS Overhead Adjustment Factors | |||
|---|---|---|---|
| Date | Percentage | Date | Percentage |
| 4/1/1965 | 0.80% | 4/1/1995 | 4.40% |
| 4/1/1966 | 2.20% | 4/1/1996 | 4.10% |
| 4/1/1967 | 3.60% | 4/1/1997 | 2.00% |
| 4/1/1968 | 5.40% | 4/1/1998 | 10.30% |
| 4/1/1969 | 1.90% | 4/1/1999 | 5.80% |
| 4/1/1970 | 7.00% | 4/1/2000 | (0.50%) |
| 4/1/1971 | 5.90% | 4/1/2001 | 6.00% |
| 4/1/1972 | 8.90% | 4/1/2002 | (1.90%) |
| 4/1/1973 | 7.50% | 4/1/2003 | (3.10%) |
| 4/1/1974 | 5.20% | 4/1/2004 | 2.30% |
| 4/1/1975 | 16.70% | 4/1/2005 | 3.50% |
| 4/1/1976 | 10.30% | 4/1/2006 | 5.10% |
| 4/1/1977 | 10.50% | 4/1/2007 | 6.40% |
| 4/1/1978 | 10.30% | 4/1/2008 | 7.70% |
| 4/1/1979 | 11.00% | 4/1/2009 | 7.50% |
| 4/1/1980 | 9.30% | 4/1/2010 | 1.90% |
| 4/1/1981 | 9.30% | 4/1/2011 | (0.70%) |
| 4/1/1982 | 13.00% | 4/1/2012 | 6.10% |
| 4/1/1983 | 9.90% | 4/1/2013 | 7.40% |
| 4/1/1984 | 5.90% | 4/1/2014 | 2.50% |
| 4/1/1985 | 2.70% | 4/1/2015 | 4.30% |
| 4/1/1986 | 4.40% | 4/1/2016 | (3.20%) |
| 4/1/1987 | 4.50% | 4/1/2017 | 5.50% |
| 4/1/1988 | (1.40%) | 4/1/2018 | 1.50% |
| 4/1/1989 | 3.30% | 4/1/2019 | 4.70% |
| 4/1/1990 | 8.10% | 4/1/2020 | 5.20% |
| 4/1/1991 | 7.20% | 4/1/2021 | 0.90% |
| 4/1/1992 | 1.50% | 4/1/2022 | 0.40% |
| 4/1/1993 | (1.10%) | 4/1/2023 | 8.50% |
| 4/1/1994 | 4.80% | 4/1/2024 | 4.60% |
COPAS Employee Benefits Limitation Percentages
Recent COPAS model form accounting procedures provide that charges for employee benefits will be based on the operator's costs of providing the benefits, not to exceed the percentage most recently recommended by COPAS. The COPAS Employee Benefits Subcommittee uses a procedure based on data from the Bureau of Labor Statistics to calculate the annual rate. COPAS approves a new rate each Fall, which goes into effect January 1 of the following year.
| Employee Benefits Limitations | |||
|---|---|---|---|
| Year | Percentage | Year | Percentage |
| 1989 | 20% | 2007 | 33% |
| 1990 | 20% | 2008 | 36% |
| 1991 | 19% | 2009 | 35% |
| 1992 | 22% | 2010 | 30% |
| 1993 | 23% | 2011 | 38% |
| 1994 | 22% | 2012 | 38% |
| 1995 | 23% | 2013 | 37% |
| 1996 | 23% | 2014 | 34% |
| 1997 | 23% | 2015 | 33% |
| 1998 | 22% | 2016 | 36% |
| 1999 | 21% | 2017 | 36% |
| 2000 | 20% | 2018 | 35% |
| 2001 | 26% | 2019 | 35% |
| 2002 | 26% | 2020 | 35% |
| 2003 | 27% | 2021 | 35% |
| 2004 | 28% | 2022 | 35% |
| 2005 | 32% | 2023 | 35% |
| 2006 | 32% | 2024 | 35% |
Note:Effective January 1st of the given year.
Pressure Base Conversion Table (Mcf)
| Current Press. Base | Converted Volume | ||
|---|---|---|---|
| 14.65 | 14.73 | 15.025 | |
| 14.650 | 1.0000 | 0.9946 | 0.9750 |
| 14.730 | 1.0055 | 1.0000 | 0.9804 |
| 15.025 | 1.0256 | 1.0200 | 1.0000 |
COPAS Annual Audit Per Diem Rates
The audit per diem rate is published annually by the COPAS Audit Committee for use by non-operators to facilitate audit cost sharing on audits conducted in the U.S. The Audit Committee uses a Professional and Technical index published by the Bureau of Labor Statistics to calculate the per diem rate to be approved by COPAS. The audit per diem rate is not intended for use in establishing rates paid to contract auditors or auditing firms.
| COPAS Audit Per Diem Rates | |
|---|---|
| Effective Date | Rate |
| 4/1/2015 | 870 |
| 4/1/2016 | 890 |
| 4/1/2017 | 910 |
| 4/1/2018 | 930 |
| 4/1/2019 | 960 |
| 4/1/2020 | 980 |
| 4/1/2021 | 1,015 |
| 4/1/2022 | 1,060 |
| 4/1/2023 | 1,130 |
| 4/1/2024 | 1,185 |
COPAS Published Annual Workers’ Compensation Insurance Manual Rates
To facilitate accounting for and charging Workers’ Compensation insurance for self-insured operators, COPAS contracts with a third party to annually determine manual rates for each most states and four job classifications, with applicable USL&HW (Jones Act) factors; COPAS then provides these rates to the industry.
| 2024 Workers' Compensation Manual Rates | |||||
|---|---|---|---|---|---|
| State | Class Codes (per $100 of payroll) | USL&HW | |||
| 1320 | 6235 | 8227 | 8810 | ||
| Alabama | $ 1.44 | $ 5.08 | $ 3.72 | $ 0.13 | 1.29 |
| Alaska | 0.68 | 2.48 | 2.90 | 0.20 | 1.30 |
| Arizona | N/A | N/A | N/A | N/A | N/A |
| Arkansas | 0.81 | 2.27 | 1.59 | 0.07 | 1.82 |
| California | 1.80 | 5.65 | 4.64 | 0.28 | N/A |
| Colorado | 0.84 | 3.66 | 2.28 | 0.08 | 1.82 |
| Florida | 1.43 | 4.15 | 3.89 | 0.13 | 1.56 |
| Georgia | N/A | N/A | N/A | N/A | N/A |
| Idaho | 1.07 | 4.04 | 2.91 | 0.11 | 1.80 |
| Illinois | 4.33 | 16.14 | 5.77 | 0.08 | 1.50 |
| Indiana | 1.22 | 3.00 | 1.80 | 0.10 | 2.07 |
| Iowa | N/A | N/A | N/A | N/A | N/A |
| Kansas | 2.65 | 8.45 | 2.25 | 0.10 | 2.08 |
| Kentucky | 2.25 | 4.37 | 2.39 | 0.12 | 1.50 |
| Louisiana | 2.22 | 5.32 | 3.60 | 0.18 | 1.21 |
| Maryland | N/A | N/A | N/A | N/A | N/A |
| Michigan | 0.86 | 2.00 | 1.46 | 0.05 | 1.54 |
| Mississippi | 1.19 | 4.36 | 2.86 | 0.15 | 1.79 |
| Missouri | N/A | N/A | N/A | N/A | N/A |
| Montana | 1.43 | 5.27 | 3.58 | 0.20 | 1.82 |
| Nebraska | 3.33 | 4.29 | 2.70 | 0.12 | 1.56 |
| Nevada | 2.74 | 8.86 | 3.98 | 0.23 | 1.30 |
| New Jersey | N/A | N/A | N/A | N/A | N/A |
| New Mexico | 1.18 | 3.44 | 2.86 | 0.15 | 1.56 |
| New York | 5.38 | 9.29 | 13.25 | 0.15 | 1.904 |
| North Carolina | N/A | N/A | N/A | N/A | N/A |
| North Dakota | 2.23 | 3.26 | 2.25 | 0.16 | N/A |
| Ohio | 1.07 | 1.90 | 1.84 | 0.06 | N/A |
| Oklahoma | 1.48 | 5.15 | 2.70 | 0.14 | 1.75 |
| Oregon | N/A | N/A | N/A | N/A | N/A |
| Pennsylvania | 2.26 | 2.87 | 2.26 | 0.10 | 1.733 |
| South Carolina | N/A | N/A | N/A | N/A | N/A |
| South Dakota | 1.70 | 4.21 | 3.23 | 0.16 | 1.50 |
| Tennessee | 0.98 | 2.90 | 1.86 | 0.09 | 2.10 |
| Texas | 0.64 | 3.53 | 0.90 | 0.04 | 2.08 |
| Utah | 0.99 | 2.47 | 1.78 | 0.05 | 1.82 |
| Virginia | 1.39 | 3.35 | 1.98 | 0.07 | 1.31 |
| Washington | N/A | N/A | N/A | N/A | N/A |
| West Virginia | 1.18 | 3.25 | 2.31 | 0.09 | 2.08 |
| Wyoming | 0.61 | 2.28 | 1.78 | 0.35 | N/A |
| 2023 Workers' Compensation Manual Rates | |||||
|---|---|---|---|---|---|
| State | Class Codes (per $100 of payroll) | USL&HW Factor | |||
| 1320 | 6235 | 8227 | 8810 | ||
| Alabama | $ 1.48 | $ 5.19 | $ 4.20 | $ 0.14 | 1.31 |
| Alaska | 0.72 | 2.59 | 2.72 | 0.21 | 1.31 |
| Arizona | N/A | N/A | N/A | N/A | N/A |
| Arkansas | 0.85 | 2.12 | 1.61 | 0.07 | 1.84 |
| California | 2.00 | 5.88 | 4.72 | 0.31 | N/A |
| Colorado | 0.82 | 3.56 | 2.39 | 0.08 | 1.84 |
| Florida | 1.44 | 4.87 | 4.38 | 0.14 | 1.58 |
| Georgia | N/A | N/A | N/A | N/A | N/A |
| Idaho | 1.21 | 4.48 | 3.26 | 0.13 | 1.80 |
| Illinois | 4.68 | 15.46 | 5.64 | 0.10 | 1.50 |
| Indiana | 1.32 | 3.33 | 2.12 | 0.10 | 2.08 |
| Iowa | N/A | N/A | N/A | N/A | N/A |
| Kansas | 2.62 | 8.59 | 2.27 | 0.10 | 2.10 |
| Kentucky | 2.27 | 5.06 | 2.66 | 0.12 | 1.50 |
| Louisiana | 2.58 | 6.61 | 3.97 | 0.19 | 1.23 |
| Maryland | N/A | N/A | N/A | N/A | N/A |
| Michigan | 0.84 | 2.21 | 1.52 | 0.06 | 1.65 |
| Mississippi | 1.08 | 4.15 | 3.02 | 0.17 | 1.81 |
| Missouri | N/A | N/A | N/A | N/A | N/A |
| Montana | 1.25 | 5.05 | 3.63 | 0.22 | 1.84 |
| Nebraska | 3.35 | 4.39 | 2.83 | 0.15 | 1.58 |
| Nevada | 2.84 | 8.98 | 4.40 | 0.23 | 1.31 |
| New Jersey | N/A | N/A | N/A | N/A | N/A |
| New Mexico | 1.30 | 4.05 | 3.06 | 0.18 | 1.58 |
| New York | 5.57 | 8.96 | 14.25 | 0.15 | 1.766 |
| North Carolina | N/A | N/A | N/A | N/A | N/A |
| North Dakota | 2.56 | 3.46 | 2.49 | 0.20 | N/A |
| Ohio | 1.17 | 2.50 | 1.64 | 0.08 | N/A |
| Oklahoma | 1.47 | 5.11 | 2.68 | 0.14 | 1.75 |
| Oregon | N/A | N/A | N/A | N/A | N/A |
| Pennsylvania | 2.27 | 2.75 | 2.27 | 0.12 | 1.73 |
| South Carolina | N/A | N/A | N/A | N/A | N/A |
| South Dakota | 1.78 | 4.38 | 3.77 | 0.16 | 1.50 |
| Tennessee | 1.05 | 3.29 | 2.24 | 0.10 | 2.10 |
| Texas | 0.65 | 3.62 | 1.05 | 0.06 | 2.10 |
| Utah | 1.05 | 2.40 | 1.83 | 0.07 | 1.82 |
| Virginia | 1.52 | 3.58 | 2.11 | 0.07 | 1.32 |
| Washington | N/A | N/A | N/A | N/A | N/A |
| West Virginia | 1.61 | 3.62 | 2.33 | 0.10 | 2.10 |
| Wyoming | 0.57 | 2.57 | 1.92 | 0.34 | N/A |
Additional Files:
workers_compensation_rates_2022.pdf- workers_compensation_rates_2021.pdf
- workers_compensation_rates_2020.pdf
- workers_compensation_rates_2019.pdf
- workers_compensation_rates_2018.pdf
- workers_compensation_rates_2017.pdf
- workers_compensation_rates_2016.pdf
- workers_compensation_rates_2015.pdf
- workers_compensation_rates_2014.pdf
- workers_compensation_rates_2013.pdf
- workers_compensation_rates_2012.pdf
- workers_compensation_rates_2011.pdf
- workers_compensation_rates_2010.pdf
- workers_compensation_rates_2009.pdf
- workers_compensation_rates_2008.pdf
- workers_compensation_rates_2007.pdf
- workers_compensation_rates_2006.pdf
- workers_compensation_rates_2005.pdf
Casing and Tubing Threadloss Tables
When an auditor reconciles casing and tubing, treadloss (or make-up loss) must be accounted for. Each type of casing and tubing has a different treadloss factor, based on the grade, weight, and end type.
Make-Up Loss Factors | ||||||
|---|---|---|---|---|---|---|
| TUBING | ||||||
| Size O.D. Inches | EUE | NUE | Buttress | |||
| Range 1 | Range 2 | Range 1 | Range 2 | Range 1 | Range 2 | |
| 2.375 | 1.0073 | 1.0054 | 1.0062 | 1.0045 | 1.0161 | 1.0107 |
| 2.875 | 1.0080 | 1.0059 | 1.0078 | 1.0058 | 1.0161 | 1.0107 |
| 3.500 | 1.0090 | 1.0066 | 1.0087 | 1.0065 | 1.0161 | 1.0107 |
| 4.000 | 1.0095 | 1.0070 | 1.0090 | 1.0066 | 1.0172 | 1.0114 |
| 4.500 | 1.0099 | 1.0074 | 1.0097 | 1.0072 | 1.0183 | 1.0121 |
| Note: Most tubing is Range 2 (29-35'); Range 3 is 37-45' joints | ||||||
Make-Up Loss Multiplication Factors | ||||||
|---|---|---|---|---|---|---|
| CASING | ||||||
| Size O.D. Inches | Short T&C | Long T&C | Buttress T&C | |||
| Range 2 | Range 3 | Range 2 | Range 3 | Range 2 | Range 3 | |
| 4.500 | 1.0073 | 1.0055 | 1.0083 | 1.0062 | 1.0109 | 1.0082 |
| 5.000 | 1.0076 | 1.0057 | 1.0094 | 1.0070 | 1.0113 | 1.0085 |
| 5.500 | 1.0080 | 1.0060 | 1.0097 | 1.0073 | 1.0114 | 1.0086 |
| 6.625 | 1.0087 | 1.0065 | 1.0108 | 1.0081 | 1.0120 | 1.0090 |
| 7.000 | 1.0087 | 1.0065 | 1.0111 | 1.0083 | 1.0125 | 1.0094 |
| 7.625 | 1.0090 | 1.0068 | 1.0115 | 1.0086 | 1.0130 | 1.0098 |
| 8.625 | 1.0094 | 1.0070 | 1.0125 | 1.0094 | 1.0134 | 1.0100 |
| 9.625 | 1.0094 | 1.0070 | 1.0132 | 1.0099 | 1.0134 | 1.0100 |
| 10.750 | 1.0097 | 1.0073 | - | - | 1.0134 | 1.0100 |
| 11.750 | 1.0097 | 1.0073 | - | - | 1.0134 | 1.0100 |
| 13.375 | 1.0097 | 1.0073 | - | - | 1.0134 | 1.0100 |
| 16.000 | 1.0111 | 1.0083 | - | - | 1.0134 | 1.0100 |
| 18.625 | 1.0111 | 1.0083 | - | - | 1.0134 | 1.0100 |
| 20.000 | 1.0111 | 1.0083 | 1.0146 | 1.0109 | 1.0134 | 1.0100 |
| Multiply section length times above factor to determine amount of loss | ||||||
COPAS Annual Vehicle Rates
COPAS model form accounting procedures allow use of Petroleum Motor Transport Association (PMTA) rates as an option to bill costs of operator-owned vehicles to the Joint Account. The PMTA organization disbanded effective January 1, 2014. COPAS created a Vehicle Rates Subcommittee to determine annual vehicle rates so the industry would continue to have a mechanism for billing vehicle costs to non-operators.
| Vehicle Type | Rate per Mile | ||||||
|---|---|---|---|---|---|---|---|
| April 1, 2018 | April 1, 2019 | April 1, 2020 | April 1, 2021 | April 1, 2022 | April 1, 2023 | April 1, 2024 | |
| Passenger Cars | $ 0.47 | $ 0.47 | $ 0.52 | $ 0.49 | $ 0.52 | $ 0.56 | $ 0.58 |
| 1/2-ton pickups (2WD) | 0.52 | 0.52 | 0.54 | 0.51 | 0.55 | 0.68 | 0.77 |
| 1/2-ton pickups (4WD) | 0.58 | 0.58 | 0.59 | 0.55 | 0.62 | 0.80 | 0.93 |
| 3/4-ton pickups (2WD) | 0.54 | 0.53 | 0.64 | 0.63 | 0.59 | 0.78 | 0.71 |
| 3/4-ton pickups (4WD) | 0.55 | 0.55 | 0.66 | 0.69 | 0.63 | 0.86 | 0.75 |
| One-ton pickups (2WD) | 0.55 | 0.69 | 0.71 | 0.67 | 0.63 | 0.85 | 0.75 |
| One-ton pickups (4WD) | 0.58 | 0.74 | 0.72 | 0.74 | 0.67 | 0.94 | 0.78 |
| SUV (2WD) | 0.65 | 0.66 | 0.69 | 0.65 | 0.70 | 0.92 | 0.88 |
| SUV (4WD) | 0.67 | 0.68 | 0.71 | 0.68 | 0.72 | 0.97 | 0.95 |
COPAS Annual Loading and Unloading Rates
Loading and unloading costs can be an element of material pricing. Some COPAS model form accounting procedures state the Operator may use specified loading and unloading rates that are adjusted annually by the same percentage used to adjust overhead rates (rounded to the nearest cent).
| Loading and Unloading Rates | |
|---|---|
| Effective Date | Rate Per Hundred Weight |
| April 1, 2006 | 0.54 |
| April 1, 2007 | 0.57 |
| April 1, 2008 | 0.61 |
| April 1, 2009 | 0.66 |
| April 1, 2010 | 0.67 |
| April 1, 2011 | 0.67 |
| April 1, 2012 | 0.71 |
| April 1, 2013 | 0.76 |
| April 1, 2014 | 0.78 |
| April 1, 2015 | 0.81 |
| April 1, 2016 | 0.78 |
| April 1, 2017 | 0.82 |
| April 1, 2018 | 0.83 |
| April 1, 2019 | 0.87 |
| April 1, 2020 | 0.92 |
| April 1, 2021 | 0.93 |
| April 1, 2022 | 0.93 |
| April 1, 2023 | 1.00 |
| April 1, 2024 | 1.05 |
Gulf of Mexico Abbreviations
| Gulf of Mexico (GOM) Field Directory | |||||
|---|---|---|---|---|---|
| Western GOM | Central GOM | Eastern GOM | |||
| Map Name | Abbreviation | Map Name | Abbreviation | Map Name | Abbreviation |
| South Padre Island | PS | West Cameron Area | WC | Pensacola | PE |
| North Padre Island | PN | East Cameron Area | EC | Destin Dome | DD |
| Mustang Island | MU | Vermilion Area | VR | Apalachicola | AP |
| Matagorda Island | MI | South Marsh Island | SM | Gainesville | GV |
| Brazos | BA | Eugene Island Area | EI | De Soto Canyon | DC |
| Galveston | GA | Ship Shoal Area | SS | Florida Middle Ground | FM |
| High Island | HI | South Timbalier Area | ST | Tarpon Springs | TP |
| Sabine Pass (TX) | SX | South Pelto Area | PL | Lloyd Ridge | LL |
| Corpus Christi | CC | Bay Marchand Area | BM | The Elbow | EL |
| East Breaks | EB | Grand Isle Area | GI | St. Petersburg | PB |
| Garden Banks | GB | West Delta Area | WD | Henderson | HE |
| Port Isabel | PI | Lloyd Ridge | LL | Vernon Basin | VN |
| Alaminos Canyon | AC | Keathley Canyon | KC | Charlotte Harbor | CH |
| Keathley Canyon | KC | Walker Ridge | WR | Pulley Ridge | PR |
| Sigsbee Escarpment | SE | Lund | LU | Dry Tortugas | DT |
| Amery Terrace | AM | Miami | MA | ||
| Lund South | LS | Key West | KW | ||
| South Pass Area | SP | Howell Hook | HH | ||
| Main Pass Area | MP | Rankin | RK | ||
| Breton Sound Area | BS | Florida Plain | FP | ||
| Chandeleur Area | CA | Campeche Escarpment | CE | ||
| Sabine Pass Area | SA | Tortugas Valley | TV | ||
| Mobile | MO | ||||
| Pensacola | PE | ||||
| Viosca Knoll | VK | ||||
| Destin Dome | DD | ||||
| Ewing Bank | EW | ||||
| Mississippi Canyon | MC | ||||
| De Soto Canyon | DC | ||||
| Garden Banks | GB | ||||
| Green Canyon | GC | ||||
| Atwater Valley | AT | ||||
| Henderson | HE | ||||
| Sigsbee Escarpment | SE | ||||
| Florida Plain | FP | ||||