Energy Management Software for Mid- and Large-Sized E&P Companies

 

Authorization for Expenditure

Generate AFEs

User-defined templates by AFE type such as drilling, abandonment and work-over Generation of supplements and amendments Copy and edit capabilities System-generated or user-defined AFE numbers Single or multiple cost centers per AFE User-specific internal entities for processing, booking and reporting User-defined system parameters to establish customized guidelines for AFE behaviors or variances Hot key to cost center detail and division of interest detail

Track and Monitor Project Progress and Expenditures

Multiple levels of AFE expenditure tracking - detail, summary and project level Gross and net amounts User-defined AFE system thresholds for tracking and reporting variances Exception reporting and viewing, such as over-expended AFEs, pending AFEs exceeding user-defined spending/time limits, AFEs exceeding user-defined soft-close time limits

AFE Accruals

Creation of automated accruals and accrual reversals based on comparison of field estimates to inception-to-date costs User-defined accrual minimum thresholds User-defined tangible/intangible split for field estimates used in accrual calculation User-defined accounting parameters for posting entries generated by AFE accruals

AFE Capitalized Interest

Recording of interest expense as part of capital costs for qualifying assets User-defined interest rate User-defined flag at AFE level indicates if capitalized interest should be posted User-defined accounting parameters for posting entries generated by capitalized interest

AFE Capitalized Overhead

Recognition of certain general and administrative expenses associated with capitalized activities User-defined capitalized overhead rates User-defined accounting parameters for posting entries generated by capitalized overhead

Close an AFE

User-defined hard and soft close parameters; date/time period sensitive Integration with Oracle Assets - automated closing and clearing of work-in-progress to permanent investment or expense accounts Integration with Oracle General Ledger - automated closing and clearing of work-in-progress to permanent investment or expense accounts