Joint Interest Billing

Oil & Gas Operations is an ever changing environment when it comes to communicating with and billing investors. The WolfePak system clearly communicates detailed charges to keep your operation running efficiently.

• Print the detail of charges and review, making changes as needed prior to printing the owner's invoices and finalizing the billing
• Option to run Revenue and Joint Interest Billing together
• Multiple netting options
• Billings can have one or more owners exempt from specific types of charges
• Billings can have different overhead rates for different groups of owners
• Bills only the leases and/or items you are ready to bill
• Handles billings of partial interests on non-operated properties
• Print paper JIB statements and/or automatically e-mail them on a per owner basis
• JIB charges are summarized on the statement by lease, type of expense, or prospect
• Allocations to facility or master meter
• General Ledger entries can be created automatically for the personal books of any investor
• Company's share of expenses is automatically booked to the proper general ledger accounts
• Any entry can contain multiple lines of description, allowing full explanations of any item
• Automatically add overhead and/or pumper charges to your billings using multiple criteria
• Utilities to easily correct coding errors on already billed entries such as wrong property, deck, AFE or account for any date range and/or a multitude of other selection criteria; complete with an undo if you find out your corrections are wrong before they are billed out
• Print a year-to-date billing summary for any investor by lease and expense type
• Copy a division of interest from one lease to another
• Produce multiple billings in one month, without duplicate billing
• Unlimited Leases – billing property up to a 10 character – alphanumeric code
• Unlimited number of owners per lease
• Unlimited number of date sensitive decks for each lease
• What-if Payout reporting to track non-consenting owners
• AFE (Authorization for Expenditure), tracking, reporting, variance reporting, etc

AFEs:

• Enter AFE budgets and produce comparison reports for each lease
• AFE payout reporting
• Invoice each owner for their share of an AFE cash call
• Multiple AFEs available for different stages and projects
• Set default AFEs for similar projects           
• Prepayments can be applied automatically against the actual billing

Integrated Add-on JIB Modules:

Project Reporting – Produce drilling report and/or other accumulative reporting for interested investors. Automatically distributes to internal and/or external owners by e-mail, fax and/or paper.