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Depletion
WolfePak's Depletion Module automates and simplifies depletion allowance calculations and summarizes reports used for IRS tax reporting purposes. The Oil & Gas industry has, in the past, required in-depth, labor-intensive data duplication and calculations for depletion allowances that can now be done with existing information from WolfePak's General Ledger and Oil & Gas Check Stub modules.Features include:
- Calculates and reports both percentage & cost depletion
- Automates Marginal/Stripper determination
- Calculates carry-overs, reserves, leasehold & accumulated depletion
- Pulls all necessary current year amounts from the GL
- Creates GL entries to record depletion taken
| What our users are saying....... |
| Some of the reports generated for our revenue owners for cash flow purposes etc are simply heavenly. |
| -Larry Linn Sunshine Valley Petroleum Corp |
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| WolfePak has truly blended into our business model and operations. |
| –Rex Gifford King Operating Corporation |
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| I really like the ability to bill by financial group and run lease operating statements by group. |
| –Shari Stroebel Double S Operations Mgmt, Inc. |
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| I love the ease of use and the experienced tech support that doesn't just read from a manual. |
| –Sherri Evans Wabash Production |
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