Enterprise Land - LeaseCost provides ready access to costs by lease and prospect, to support property sales and farmouts. Bonus, brokerage, legal, seismic and G&G costs can be imported or entered directly into LeaseCost. If these costs are not identified to a prospect or lease, they are suspended until the identification is made. Once associated with a prospect, costs are available for allocation to the lease or tract levels.
Benefits:
- Meets needs of land, accounting and tax departments for timely, accurate cost information for leased acreage
- Systematically generates journal entries for leases that have been written off, transferred to producing and leases that have a prospect change
- Easily maintains costs associated with acreage under lease and provides accurate, up-to-date information to support land, cost transfer, write-off and impairment processes
- Interfaces to company accounting system
