View a breakdown of Copas Overhead and Tax information ยป
COPAS
This section last revised 9/10/08. SPEE makes no representations as to the accuracy or completeness of this summary information.
COPAS, the Council of Petroleum Accountants Societies, Inc., computes the percentage wage Index Adjustment that is effective on April 1st of each year. This factor is commonly referenced by joint operating agreements and used to adjust the overhead rate. 1962 was the base index year, and the first adjustment was issued for 1963. The adjustments are as follows:
YEAR |
COPAS
OverheaD
Adjustment |
YEAR |
COPAS
Overhead
Adjustment |
YEAR |
COPAS
Overhead
Adjustment |
1962 |
|
1985 |
2.7% |
2008 |
7.7% |
1963 |
1.6% |
1986 |
4.4% |
2009 |
7.5% |
1964 |
3.9% |
1987 |
4.5% |
2010 |
1.9% |
1965 |
0.8% |
1988 |
-1.4% |
|
|
1966 |
2.2% |
1989 |
3.3% |
|
|
1967 |
3.6% |
1990 |
8.1% |
|
|
1968 |
5.4% |
1991 |
7.2% |
|
|
1969 |
1.9% |
1992 |
1.5% |
|
|
1970 |
7.0% |
1993 |
-1.1% |
|
|
1971 |
5.9% |
1994 |
4.8% |
|
|
1972 |
8.9% |
1995 |
4.4% |
|
|
1973 |
7.5% |
1996 |
4.1% |
|
|
1974 |
5.2% |
1997 |
2.0% |
|
|
1975 |
16.7% |
1998 |
10.3% |
|
|
1976 |
10.3% |
1999 |
5.8% |
|
|
1977 |
10.5% |
2000 |
-0.5% |
|
|
1978 |
10.3% |
2001 |
6.0% |
|
|
1979 |
11.0% |
2002 |
-1.9% |
|
|
1980 |
9.3% |
2003 |
-3.1% |
|
|
1981 |
9.3% |
2004 |
2.3% |
|
|
1982 |
13.0% |
2005 |
3.5% |
|
|
1983 |
9.9% |
2006 |
5.1% |
|
|
1984 |
5.9% |
2007 |
6.4% |
|
|
For more information or other COPAS information, please view the COPAS home page at:
http://www.copas.org/
For up to date COPAS rates see:
http://www.ey.com/global/Content.nsf/US/Oil_and_Gas_COPAS_Adjustment_Factor
E&Y Fixed Rate Overhead Survey
This section last revised 9/10/08. SPEE makes no representations as to the accuracy or completeness of this summary information.
For many years, the accounting firm Ernst & Young LLP has prepared an annual survey of COPAS Fixed Rate Overhead charges. This survey is often considered during the negotiation of joint operating agreements. The latest survey is available at:
http://www.ey.com/global/Content.nsf/US/Oil_and_Gas_Annual_Fixed_Rate_Overhead_Survey |
