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Oil and Gas Terminology, Impairments, Depletion, AROs and Derivatives FLEXCAST

Available Until

Your Desk

1.0 Credits

Member Price $98.00

Non-Member Price $113.00


Oil and gas operations have some of the most unique accounting issues found in any industry. This course includes a discussion of the oil and gas industry, with a focus on the key terminology. This course also addresses other key topics relating to depletion, impairments, asset retirement obligations, as well as oil and gas derivatives.


Oil and Gas Overview and Terminology. Asset Impairment and Depletion. Asset Retirement Obligations and Derivatives.



Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.


Recognize the various steps in the process of exploring for, developing, and producing on an oil and gas property. Identify the different types of wells. Identify the documentation used to record produced oil and gas. Describe the circumstances under which impairment testing should be conducted, as well as the rules for doing so. Describe the calculation process for the unit of production method. Recognize the key characteristics of asset retirement obligations and oil and gas derivatives.




This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.


Leader Bios

Kelen Camehl, Western CPE

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.

Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

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Non-Member Price $113.00

Member Price $98.00