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COPAS Adjustment Factor - Ernst & Young - United States

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Annual percentage change in overhead adjustment factor

 

At its annual spring meeting, the Council for Petroleum Accountants Societies ("COPAS")* approves the annual adjustment to be applied to the combined fixed-rate overhead charges as provided in certain accounting procedures. The computation is based upon the index of average weekly earnings of crude petroleum and gas production workers as published by the Bureau of Labor Statistics.

The adjustment factor in 2009 is 7.5%. With the permission of COPAS, we publish the following table reflecting the annual percentage change in these statistics since 1963:

1963  1.6%1970  7.0%1977  10.5%1984  5.9%1991  7.2%1998  10.3%2005  3.5%
1964  3.9%1971  5.9%1978  10.3%1985  2.7%1992  1.5%1999  5.8%2006  5.1%
1965  0.8%1972  8.9%1979  11.0%1986  4.4%1993   (1.1)%2000  (0.5)%2007  6.4%
1966  2.2%1973  7.5%1980  9.3%1987  4.5%1994  4.8%2001  6.0%2008  7.7%
1967  3.6%1974  5.2%1981  9.3%1988   (1.4%)1995  4.4%2002  (1.9)% 2009  7.5%
1968  5.4%1975  16.7%1982  13.0%1989   3.3%1996  4.1%2003  (3.1)% 
1969  1.9%1976  10.3%1983  9.9%1990  8.1%1997  2.0%2004  2.3% 

* Other than furnishing the annual adjustment factor, COPAS does not participate in this Survey of Combined Fixed-Rate Overhead Charges for Oil and Gas Producers.

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COPAS adjustment factor 

The Council of Petroleum Accountant Societies (COPAS) overhead adjustment is positive 7.5% (-2.6%) as of 1 April 2009. Compare the adjustment factor since 1963.

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