Council of Petroleum Accountants Societies

What Council of Petroleum Accountants Societies does

The Council of Petroleum Accountants Societies, Inc. (COPAS) is a U.S.-domiciled, Kansas-incorporated non-profit professional association founded in 1961 that develops and disseminates authoritative accounting standards for the oil and gas industry. Operating from Wichita, Kansas with payment processing in Overland Park, COPAS serves approximately 2,600 individual members organized into 24 regional societies across the United States, Canada, and a Virtual Society for remote participants. Its membership is anchored by petroleum accountants at integrated majors (e.g., ConocoPhillips, Devon Energy, INEOS), mid-market E&P operators (e.g., Gas Equities), accounting firms (Whitley Penn, Deloitte Tax, FORVIS), and individual practitioners transitioning into oil and gas accounting.

COPAS monetizes its standards-setting role through a diversified portfolio of subscription, certification, publication, education, and event revenue streams. Core products include the APA® (Accredited Petroleum Accountant) certification program — the only dedicated petroleum-accounting credential, launched in 1996 and exam-redesigned in 2016; the COPAS publications library (20 Accounting Guidelines, Model Form Accounting Procedures, 39 Model Form Interpretations, Training & Reference Materials); the Computerized Equipment Pricing System (CEPS), a web-based equipment pricing subscription database; Individual ($460/yr) and Corporate ($2,400/yr) ePublications digital libraries; monthly CPE webinars, classroom courses, and the Building Your Foundation in Oil and Gas School; the ACCOUNTS Magazine; and the Oil and Gas Accounting Podcast. Delivery is omnichannel: website e-commerce at copas.org, regional society chapters for in-person engagement, semi-annual Spring/Fall national meetings with corporate sponsorships, and Meazure Learning testing centers for APA exams.

The business model is a classic professional-association hybrid: membership subscription dues fund the standards-setting infrastructure, while certification fees, publication sales, and corporate subscriptions generate direct margin. Approximately 9 volunteer board members and a paid staff of fewer than 10 run the organization. The organization holds formal industry-liaison relationships with the American Petroleum Institute (API) and the American Association of Professional Landmen (AAPL), and a formalized co-development agreement with the Professional Development Institute (PDI) at the University of North Texas — its only external reproduction agreement. Revenue is not publicly disclosed.

Name

Council of Petroleum Accountants Societies

Legal name

Council of Petroleum Accountants Societies, Inc.

Website

https://copas.org

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

1–10 employees

Short description

The Council of Petroleum Accountants Societies is a non-profit professional association founded in 1961 that develops authoritative oil and gas accounting standards, delivers the APA® certification, and serves roughly 2,600 petroleum accountants across 24 regional societies in the U.S. and Canada.

Ownership category

akta.pro rank

Headquarters

HQ city

Wichita

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. APA Certification Fees: APA certification exam fees: $1,600 for COPAS members / $2,000 for non-members. Includes access to review course and two exam attempts over 24 months. Annual renewal fees of $100 for active status.
2. Membership Dues: Single subscription membership model starting August 1, 2024. Annual renewals on August 1st. Members receive 25% off webinars and 50% off selected publications.
3. Publications Sales: Sale of accounting guidelines, model form procedures, interpretations, and training materials. Price ranges from free to $6,000 depending on publication type and subscription level.
4. ePublications Subscriptions: COPAS ePublications Library subscription: Individual $460/year, Corporate $2,400/year (billed March 31st annually). Includes all Accounting Guidelines, Model Form Interpretations and Training Materials.
5. CPE Course Fees: Continuing Professional Education courses offered as webinars, classroom courses, and private training. New courses monthly. Discounts available for members and bulk corporate purchases.
6. Meeting Sponsorships: Company sponsorships available for national meetings (Spring and Fall) and committee meetings. Sponsorship opportunities with varying benefits at attractively priced levels.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

COPAS is a non-profit professional association that develops, publishes, and sells authoritative oil and gas accounting standards (Accounting Guidelines, Model Form Accounting Procedures, Interpretations, Training & Reference Materials) and operates the APA® (Accredited Petroleum Accountant) certification program. It delivers continuing professional education (CPE) courses, the proprietary CEPS equipment-pricing database, and industry networking through 24 regional societies and semi-annual meetings.

Product overview

COPAS (Council of Petroleum Accountants Societies) is a professional member association for petroleum accountants that operates as a multi-product organization offering authoritative publications and education services. The core portfolio includes the APA® (Accredited Petroleum Accountant) Certification Program, a comprehensive suite of 79+ publications including Accounting Guidelines (AG series), Model Form Accounting Procedures (MF series), Model Form Interpretations (MFI series), and Training & Reference Materials (TR series), plus the Computerized Equipment Pricing System (CEPS) subscription database. Education offerings include CPE courses (webinars and classroom), the Building Your Foundation in Oil and Gas School, and the APA® Review Course. The organization also publishes ACCOUNTS Magazine and produces an Oil and Gas Accounting Podcast. COPAS ePublications provides digital subscription access to all publications. With 23 societies across the U.S. and Canada, COPAS facilitates networking through annual Spring and Fall meetings and committee work that develops industry-standard accounting procedures.

Differentiator

Problem solved

Functional benefit

Brands

• APA (Accredited Petroleum Accountant): Professional certification program for petroleum accountants established in 1996, offering certification exams and continuing education requirements.
• COPAS Energy Education
• CEPS (Computerized Equipment Pricing System)
• ACCOUNTS Magazine

Products and services

• APA® (Accredited Petroleum Accountant) Certification Program Professional certification program that validates expertise in oil and gas accounting principles; includes a comprehensive exam, an annual renewal requirement (with continuing education), and a Code of Ethics. Target users are individual petroleum accountants and their employers.
• Accounting Guidelines A series of 20 publications (AG-1 through AG-20) covering oil and gas accounting topics such as well cost allocations, unitization accounting, vendor audits, internal audits, and expenditure audit protocols. Pricing ranges from $110-$220 per guideline on a perpetual-license basis.
• Model Form Accounting Procedures Standardized accounting procedure documents including MF-2 Gas Plant, MF-4 1995, MF-5 1998 Project Team, MF-6 2005 Joint Operations, MF-7 Deepwater, and MF-8 2022 Joint Operations. Incorporated into industry contracts to govern operator/non-operator accounting relationships.
• Model Form Interpretations 39 publications providing interpretations and guidance on COPAS Model Form Accounting Procedures, covering topics from 1962 through 2005 and onward. Available as perpetual-license purchases or included in the ePublications subscription.
• Computerized Equipment Pricing System (CEPS) Subscription-based web-accessible database providing standardized equipment pricing data for the oil and gas industry. Available as Individual Subscription ($600-$2,000/year) or Enterprise Subscription ($4,000-$6,000/year), plus a $100 Historical Data CD.
• COPAS ePublications Digital Library Annual digital subscription providing access to all COPAS Accounting Guidelines, Model Form Interpretations, and Training & Reference Materials. Individual $460/year; Corporate $2,400/year; billed annually on March 31.
• Training and Reference Materials Reference publications including the Severance Tax Guide, TR-9 Petroleum Industry Accounting Educational Training Guide, TR-12 History of COPAS, TR-31 Oil & Gas Performance Measures, and TR-34 APA® Managerial Accounting and Economics Study Guide. Severance Tax Guide priced at $300 individual / $1,500 corporate.
• CPE (Continuing Professional Education) Courses Continuing professional education courses delivered as webinars, classroom courses, and private company training. Offerings include Principles of Revenue Accounting Boot Camp, Principles of Joint Interest Accounting Boot Camp, Gas Balancing, Joint Interest Audit, and Introduction to Oil and Gas Exploration. New courses are released monthly; member and bulk-corporate discounts available.
• Building Your Foundation in Oil and Gas School Four-day foundational course designed to give new hires in petroleum accounting the skills, confidence, and motivation to succeed. Available as open enrollment or private company training package.
• APA® Review Course Exam preparation course with summarized study material and a sample question bank. Subscription includes two examination attempts over a two-year window. Successful first-attempt passers receive one free COPAS Energy Education webinar.
• COPAS National Meetings and Events Semi-annual Spring and Fall national meetings, plus committee meetings and the Oil and Gas Accounting School, providing education, networking, and standards-development forums. Includes paid sponsorship opportunities for companies and paid registration for attendees.
• ACCOUNTS Magazine Published magazine offering industry news, articles, and marketing opportunities for the petroleum accounting profession, with advertising placements available for vendors and service providers.
• Job & Career Center

Quantifiable outcome

• 65+ years of industry standards development and influence
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor and core.

• American Association of Professional Landmen (AAPL)minorOthersIndustry liaison relationship for collaboration on matters of mutual interest between petroleum accountants and land professionals. Kim Peyton serves as liaison.
• American Petroleum Institute (API)minorOthersAPI Audit Committee and Royalty Committee liaisons for coordination on industry standards. Evan Green (API Audit Committee) and Stephanie Schwindt (API Royalty Committee) serve as liaisons.
• Professional Development Institute (PDI) at University of North TexascoreStrategic or Co-development PartnerFormalized contract allowing use and reproduction of COPAS materials as part of the National Oil and Gas Schools jointly sponsored by PDI and COPAS. This is COPAS's only formalized reproduction agreement.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• AICPA (American Institute of CPAs): The largest US professional association for certified public accountants, offering certifications, continuing education, and standards. Comparable as the umbrella professional association model for accountants that COPAS specializes within the oil and gas vertical.
• American Petroleum Institute (API): Largest US trade association for the oil and gas industry, covering standards, certification, and advocacy across all disciplines. Comparable as a broader oil and gas industry association with active liaison to COPAS (API Audit and Royalty Committee liaisons).
• IOGP (International Association of Oil & Gas Producers): International upstream oil and gas industry association producing standards, guidelines, and good practices globally. Comparable as a global oil and gas standards-setting body that competes with COPAS's authority in international contexts.

Direct peers

• IMA (Institute of Management Accountants): Global professional association for management accountants offering the CMA certification, continuing education, and industry-specific resources. Closely mirrors COPAS's professional association + certification + CPE business model.
• IIA (Institute of Internal Auditors): Global professional association for internal auditors offering the CIA certification, standards, and CPE. Mirrors COPAS's certification + continuing education + standards-based professional association model in an adjacent audit vertical.
• Society of Petroleum Evaluation Engineers (SPEE): Professional society for engineers evaluating oil and gas reserves and economics. Highly comparable as a specialized oil-and-gas industry professional association with similar standards-setting, membership, and continuing education functions.
• IHRDC: International petroleum training and competency management company offering courses, e-learning, and certification programs for oil and gas professionals. Comparable in offering specialized oil and gas industry education and credentials, competing partially for corporate training budgets.

Regional players

• CPA Canada: Canadian national professional accounting body serving Canadian CPAs with certification, standards, and education. Comparable as the Canadian counterpart in the same professional association model, serving overlapping member geography.

Emerging players

• PetroSkills: Commercial oil and gas training provider offering competency-based courses across upstream, midstream, and downstream. Comparable in delivering petroleum-industry-specific professional education and certification preparation, though operating commercially rather than as a non-profit.

Others

• American Accounting Association (AAA): Academic community of accounting educators and researchers. Comparable as a professional association in the accounting ecosystem and referenced by COPAS for academic partnerships, though it serves faculty rather than practitioners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/COPASInc
• LinkedInlinkedin.com/company/council-of-petroleum-accountants-societies-inc-copas-

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Council of Petroleum Accountants Societies