Outsourcing

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Business Process Outsourcing (BPO)

Remain focused on growth and profitability and leave your back-office to P2 Energy Solutions’ Business Process Outsourcing (BPO) services, the largest oil and gas outsourcing service in the United States.

Why Outsource Business Processes?

Reduced costs compared to internal accounting and land department
Allows management team to focus on building shareholder value, not hiring and managing employees
On demand access to the staff and systems you need to grow your business
Regulatory and Sarbanes-Oxley compliance
Access to large-company technology without the cost or complexity

Why Outsource with P2 Energy Solutions?

We are the lowest risk vendor in the market due to our size and scope of services. Our competition consists of much smaller firms without access to the same level of resources or staff as P2 Energy Solutions
We are the industry leader in delivering access to information to help run your businesses. In addition to hundreds of reports, P2 Energy Solutions customers have access to a sophisticated document management system, data analysis tools, and integrated mapping solutions
We own and maintain the enterprise applications we utilize for our BPO services, reducing costs for our clients
We have the scale to manage any acquisition or back-office task. Customers range from start-up firms to large public companies
Our internal processes are all SAS 70 Certified. This means that our customers have the confidence that their vendor operates in a Sarbanes-Oxley compliant environment

Client Service Checklist

Outsourcing

Revenue Accounting

Record volumes, sales values, transportation charges, other deductions and severance taxes into accounting records
Generate monthly revenue/royalty distributions
Prepare and file severance taxes and compliance reports including MMS
Generate monthly revenue accruals
Generate gas balancing statements
Reconcile gas balancing statements provided by other operators
Calculate and disburse net profit interests
Reconcile related general ledger accounts
Ability to compare calculated sales volumes to revenue received

Accounts Payable

Set up operated invoices for payment
Set up non-operated joint interest billings for payment
Reconcile prepayment balances
Monitor payout balances associated with outside operated interests
Reconcile related general ledger accounts
Generate A/P checks Coordinate payments with vendors
Code operated and non-operated A/P invoices

Accounts Receivable

Process revenue and accounts receivable cash receipts
Pursue collection of joint interest receivables
Monitor aging of A/R balances

Ad Valorem Tax Service

Provide any level of appraisal services
Review current tax assessments for possible tax savings
Review and file appropriate renditions annually Negotiate and appeal taxable values
Provide automated tax payment data and monitor delinquent taxes
Report and pay taxes

Joint Interest & Property

Calculate and maintain payout balances
Record monthly COPAS overhead rates
Record monthly PMTA rates and other rental equipment charges
Maintain and record monthly allocation charges
Generate monthly joint interest billings
Perform monthly LOE and capital cost accruals
Coordinate joint interest audits (for Company operated properties)
Set up and monitor AFE balances Record material transfers
Record lease rentals
Provide detailed expense and capital analyses to field locations
Monitor and analyze undeveloped leasehold costs
Prepare property cost reports for client analysis on a periodic basis
Reconcile related general ledger accounts

Land Records

Analyze, set up and maintain leases on the Excalibur Land Lease Records System
Provide flexible report generation for client (gross/net acreage, rental obligations, drilling commitments)
Payment of lease delay rentals, minimum royalties, shut-in royalties and lease obligations
Acquire title opinions and title curative for drilling purposes and division orders
Prepare and process division orders and maintain division of interests
Prepare letter-in-lieu and/or transfer orders for acquisitions and divestitures
Review and/or negotiate joint operating agreements, farmout agreements, acquisitions/divestitures, etc.
Respond to landowner inquiries

Reporting

Generate cash flow projections
Generate monthly financial reporting package
Generate periodic Securities and Exchange Commission reports
Assist in preparation of data for registration statements Generate lease operating statements Assist in compilation of data for tax forms including K-1, 1065 and 1120
Generate 1099 reports
Generate general and administrative analyses
Calculate DD&A amounts
Production reporting to states and MMS

Finance & Treasury

Establish investment banking relationships for public or private offerings
Assist in identifying short-term investment opportunities
Reconcile bank statements
Lockbox collection for revenue receipts and remote disbursement for payments to enhance cash management

Engineering

Evaluate oil and gas properties for acquisitions, divestitures, drilling prospects and engineering reserve reports Perform field studies for exploration opportunities, waterflood feasibility and field performance issues

Overview Application Implementation ERP Systems Integration Tobin Data and GIS Imagery Hosting Outsourcing

Related Information

Outsourcing Due Diligence

The seven most important questions to ask when outsourcing upstream land and accounting administration.

Products

Software

Whether you operate in the United States or Canada, P2 Energy Solutions software products centralize your data, making it accessible across your processes, making sure they work for you rather than the other way around.

Tobin Data and GIS

Backed by over 75 years of experience, Tobin Map Data and GIS products optimize the value of spatial data libraries and maximize decision making for all sizes of E&P companies.

Featured Event

The 2008 P2 Energy Solutions' Conference

Keystone, Colorado

September 17 - 19, 2008

Keystone Resorts and Convention Center

Given that we are now a separate public company from our parent, our partnership with P2 Energy Solutions enables us to focus on our core business strategy and increases our capacity for future growth.

- Gary Bench
Chief Financial Officer
CNX Gas