Enterprise energy management solutions for 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