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Process Tickets
- Multiple ticket types
- Units of measure include both domestic and international
- On-line query for run tickets
- Audit trail for reversed tickets
Allocate Oil Production
- Multi-tier allocations with audit trail
- Allocations based on combinations of locations, agreements and dispositions
- Ability to allocate pre-pay tickets
Calculate Value for Volumes
- Multiple pricing agreements
- Calculation of taxes and other deducts
- Division of interest used in calculation
Perform Analysis and Generate Pre-Defined Reports
- Run statements, both original & amended
- Crude oil purchase statements by recipient
- Over and short reports (daily, monthly or year-to-date)
- Ticket detail report
- Various allocation reports
- Various audit and variance reports
- Ability to generate reports through an Oracle database utilizing many ad hoc reporting tools
Process Distributions
- Automated approval of distribution transactions
- Automated prior period adjustments: price, tax and deduction rates, product volumes
- Audit reporting to verify and document changes
- Selection by effective dates
- Recording of sales data by joint venture partner and creation of general ledger transactions
- CDEX send and receive
- CODE receipts
Manage Suspense
- Fully integrated assignment and ownership processing
- Automated prior period adjustments - ownership
- Multiple report centers for a single division of interest (DOI)
- Ability to designate DOI exemptions by party
- Complete audit reporting of all maintenance tables
- On-line release of suspended funds
Process Payments
- Calculate minimum royalty
- Calculate minimum payments for individual parties
- Release of funds to owners as check, wire transfer and EFTs
- Support for user-definable special handling criteria for special signatures and additional check documentation
- Calculate and report state and federal backup withholding
- Generate remittance detail file in compliance with current state disclosure requirements
- Support for "manual" check creation
Generate Regulatory Reports
- LA Transporter report - LA R2
- NM Transporter report - C112
- TX Transporter report - TX T1
- ND Oil Purchaser Severance Tax - ND T12 and T12A
- Supports data for other major oil and gas states
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