The Institute of Petroleum Accounting was created in 1980 to accomplish three principal objectives:

1. To research and encourage others to carry out research in accounting, finance, taxation and economic problems of the extractive industries.
2. To disseminate information about research activities of the Institute and about current developments in the extractive industries through the Petroleum Accounting and Financial Management Journal
3. To encourage universities and colleges to become actively involved in educational programs related to the extractive industries.

Through its position within the university community, the Institute has access to research that directly impinges upon the accounting, finance, tax, and economics issues facing the petroleum industry today. The Institute's ties to professional accountants, financial managers, and executives within the extractive industries enable it to stay abreast of the concerns that industry professionals contend with on a day-to-day basis. From the beginning, the Institute has enjoyed a strong relationship with the oil and gas industry to the mutual benefit of both. The Institute is the conduit through which academic research in the oil and gas industry reaches the working professional.

2011 PricewaterhouseCoopers Survey of U.S. Petroleum Accounting Practices

Published by the Institute of Petroleum Accounting at the University of North Texas and PricewaterhouseCoopers, the survey compiles responses from oil and gas exploration and production companies to a wide ranging series of accounting and disclosure questions. The goal is to analyze industry practices in applying pronouncements of the FASB and SEC. The Survey also addresses questions regarding the movement toward international financial reporting standards and the related SEC roadmap. To order the Survey, complete the Publications Order Form and mail or fax (940-369-8839) with payment to: Institute of Petroleum Accounting; University of North Texas; 1155 Union Circle #305460; Denton, Texas 76203-5017.

Income Taxation of Natural Resources 2014

The Professional Development Institute(PDI) has released the 2014 Edition of Income Taxation of Natural Resources, an essential reference for all tax professionals and practitioners in the natural resources industries.

The 2014 Edition covers vital tax and reporting practices and procedures; considers various changes and updates relative to the IRS; and deals with many recent developments affecting tax professionals, including:

• Developments regarding conveyances, joint operations, and complex partnership issues
• Guidance related to exploration and development costs, royalties, depreciation, depletion, gross income, taxable income and tax credits
• The latest developments on natural resources issues

The 2014 Edition includes more than 1000 pages, 24 chapters, many germane appendices, enhanced graphics and a comprehensive index.