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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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