Revenue Settlement

Enterprise Upstream Revenue Settlement is the industry’s most integrated revenue system designed to support global exploration and production operations. Revenue Settlement is an agreements-based application that manages the financial transactions for operated and non-operated properties, and all hydrocarbon products. Revenue Settlement simplifies and automates calculations, distribution, suspense management, payment processing, revenue netting and regulatory reporting. By using Revenue Settlement to integrate and streamline these functions, companies can reduce their cost of operations and further optimize their return on assets.

Calculate Pricing and Other Revenue Components

Gross value, taxes, deductions, additions/allowances, net
Extensive pricing capabilities
Flexible, user-defined equations Direct transfer of data from internal and external systems
Translation of payor product and property Identification of receipt and delivery points
Allowance for unit to tract allocations Allowance for sliding scale processing

Process Distributions

Automated approval of distribution transactions
Automated prior period adjustments-price, tax and deduction rates, and product volumes
Audit reporting to verify and document changes Selection by effective dates
Recording of sales data by joint venture partner and creation of general ledger transactions
Provisions for financial accruals and automated accrual reversals
User-definable journaling by account for all revenue processes-distribution, accruals, transfer, etc.
Ability to book either gross revenues and royalty expense or net revenues
Creation of party-level transactions
User-controlled accounting periods
Ability to post transactions to a future accounting period
Cash matching and reconciliation
Cash matching write-offs Cash matching end-to-end processing (receipts through distribution) CDEX send and receive CODE receipts Royalty Reimbursement

Manage Interests/Suspense

Fully integrated assignment and ownership processing Automated prior period adjustments - ownership
Multiple report centers for a single division of interest (DOI)
Ability to designate DOI exemptions by party
Enhanced security for party (Business Associate), DOI and agreement maintenance
Complete audit reporting of all maintenance tables
Division and Transfer Order printing with user-controlled document language
On-line release of suspended funds
Identification of effective and expiration dates, by party, preventing duplicate DOIs
Identification of record title, marketing arrangements and distribution DOIs

Payment Processing and Escheat

Calculate minimum royalty
Calculate minimum payments for individual parties
Release of funds to owners as check, wire transfer and EFTs Support for user-definable special handling criteria for special signatures and additional check documentation
Calculate and report state and federal backup withholding
Generate remittance detail file in compliance with current state disclosure requirements
Support for "manual" check creation Automated bank reconciliation input file and reconciliation reporting
Automated void check processing Archive and purge processing

Revenue Netting

Automated calculations to reflect joint interest billing - revenue netting
Identify receivables at the party level or the party and report (cost) center level
Generate audit and analysis reports to facility research and verify accuracy of transactions selected for netting
Generate all accounting journal entries within Energy Receivables and P2 Settlement to account for netted transactions