Crude Oil First Purchaser

Change may not be easy.....but it is manageable.

The WolfePak Crude Oil First Purchaser module is a comprehensive integrated oil purchase system.  It is designed to support oil and associated product purchases from a variety of different data capture methods.  WolfePak Crude Oil First Purchaser is tightly integrated with WolfePak’s Revenue Distribution system and General Ledger system.

The Crude Oil First Purchaser module enables you to manage the purchase, sale and distribution of oil production, perform allocations on purchases, and value the purchases using a variety of different pricing methods. You are also able to generate run statements and regulatory reports, and then transfer volumes and values for revenue disbursement and related accounting entries.

Features include:

• Run tickets can capture both loading and offloading measurement information, complete with seal#
• Options to import and export oil and gas purchaser statements via CODE (Crude Oil Data Exchange), CSV and Sentinel formats
• Automatic functions create reversed tickets for corrections with complete audit trail
• Options to create Operator Run Statements via paper or emailing based on Operator set-up option
• Operator Run Statements can optionally include breakdown of payment by owner
• Ability to produce regulatory reports for TX (T1, Oil Sev Tax EDI & Natural gas EDI), LA (O1-s, O-1d, R2 Part 2), and KS (KDOR) (ask about other states)  
• Tracks historical and current information related to pricing, including Price Index information and related Price contracts
• Quick and easy entry and retention of Tank Table information and “strapping” data
• Multiple Criteria to view and correct historical data if necessary
• Multiple reporting options and criteria including:
• Daily Disposition
• Run Ticket Detail, Run/Delivery Ticket Edit
• Inventory / Sales Comparison, Inventory Variance
• Driver Commissions
• Cost of Crude Oil
• Optional Integrated Dispatch module:
• Computes up-to-date accumulative volume and sulfur content (uses estimates on dispatched tickets and actual volumes when numbers become available)
• Flags leases subject to bad weather restrictions and/or being held by the state
• Lists scheduled loads that tickets haven’t been processed for
• By Property Inquiry of loads waiting to be dispatched or picked up

• See Revenue Distribution for complete list of features that include:
• Tracks all DOI changes and suspense related calculations
• Distribution (owner option) via check or ACH/EFT
• Owner Option to E-mail check stub information, print, or both
• Calculate and report state and federal backup withholding
• Automatically computes severance taxes
• Mass change utilities and correction utilities
• Print Division Order Letters for ownership changes
• And the list goes on and on..

Integrated Modules for Oil & Gas Operators:

Core Modules	Add-on Modules
General Ledger Accounts Payable Revenue Distribution	Document Imaging Payroll GL ACH