Joint Venture Accounting

Enterprise Upstream Joint Venture Accounting (JVA) is an agreement driven solution to control and manage costs, including lease operating expenses and capital/AFE expenditures. The solution maximizes cost recovery from partners using this flexible project cost tracking. JVA is integrated with Land, Financials, Revenue, and Production to manage ownership, Joint Interest Billing (JIB), and invoicing. Functionality includes Allocations, Payroll Burdens, Utilization, Overhead, Draw-Down Cash Calls, JIB Invoices, PPAs, and Rebills, Payout, and Cost Recovery in an automated, workflow-enabled process.

Features

Authorization for Expenditure (AFE)

Reduce AFE overspend and through tight integration with P2 AFE to provide real time reporting of budget to estimate to actual.  Providing transparency early in the process to catch issues before the overspend occurs.

Joint Venture Accounting

Easily track, calculate, and allocate direct and indirect costs, create and manage cash advances, generate invoices and analyze your operating costs.

Production Sharing Agreements (PSA)

Manage complex PSA agreements through a flexible equation based solution that is configurable for specific PSA requirements.  Substantially reduce your cost of operations through improved processing and analysis.

Lease Operating Statements (LOS)

Provide real time web based LOS reports with user configurable groupings and drill down capabilities.