First Purchasers

WolfePak for First Purchasers

The only solution in oil & gas accounting built for the way you work

If you’re a first purchaser and you don’t use WolfePak, you’re missing the advantages of the only purpose-built solution for your business. WolfePak is a comprehensive, integrated crude oil purchase system, developed to support crude oil purchases with various data capture technologies.

This set of core modules integrates with the WolfePak Revenue Distribution System and the General Ledger. You can manage the purchase, sale and distribution of oil production, perform allocations on purchases, and value purchases with different pricing methods.

WolfePak lets you take title of production from oil & gas wells and issue disbursements on behalf of the operators. You can account for transactions connected to pipelines and hauled transactions — WolfePak handles netting of tickets, multiple pricing options and different penalty scales.

 

View Included Modules > 


Flexibility and control 

The system makes it easy to generate oil run statements, regulatory reports and severance tax reports, transfer volumes and values for revenue disbursement and related accounting entries. Other functions include: 

  • Netting of tickets, taking gravity, temperature and BS&W into consideration
  • Electronic ticket interface options
  • Ticket and multi-level allocations
  • Mass ticket correction utility (automatic creation of reversed tickets for correction plus audit trail
  • Inventory tracking
  • Unlimited price & composite indexes, tier pricing, date-sensitive contracts
  • Billing/hauling rates, driver commissions and sales statements
  • Scale adjustments by BS&W, gravity, sulfur and volume
  • Unlimited early pay options
  • Cost of crude oil report
  • Operator oil run statements
  • State regulatory reports
  • Severance tax reports
  • Inventory comparison reports
  • Run tickets capture loading/offloading measurement information, plus seal number
  • Import/export oil & gas purchaser statements via CODE (Crude Oil Data Exchange), CSV or Sentinel
  • Automatic creation of reversed tickets for corrections plus audit trail
  • Track historical and current pricing information, 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:
    • Daily disposition
    • Run ticket detail and edit
    • Inventory/sales comparison and inventory variance
    • Driver commissions
    • Crude oil costs

Detail and automation revenue distribution

The WolfePak revenue distribution module makes first purchasers more efficient, with the ability to manage DOI, withholding, taxes and other changes:

  • Track all DOI changes and suspense-related calculations
  • Distribute funds via check, ACH or wire transfer
  • Owner option to email check stub information, print or both
  • Calculate/report state and federal backup withholding
  • Automatic severance tax calculation
  • Mass change utilities and correction utilities
  • Mass DOI changes for ownership transfer
  • User-defined suspense codes up to 99
  • Print division order letters for ownership changes

QUOTES PANEL

We’ve used WolfePak for over ten years and have always liked it and had good service. I like their yearly conference with all the good information and reviews.
Sue Rushing , Spring Drilling Corporation

WolfePak scales with your growth

Your WolfePak conversion sets up post-conversion implementation and training, to ensure that your new system scales and supports your growth.

Training

Monthly new user classes with available on-site consulting and training

User Conference

WolfePak instructors teach you how to do more with less (earn CPE credits too)

Tech Support

Your WolfePak technical support team is always available to solve problems

CALL TO ACTION PANEL

See how you run with WolfePak

To see how WolfePak can help your growing business run leaner and faster, call us at (325) 677-1543 or contact us.