Oil & Gas Accounting
P2 has been the go-to provider of software in the back office of energy companies for more than 30 years, supporting critical financial and operational accounting and increasing productivity through more effective compliance discovery, management, and reporting.
Asset management. Joint interest billing. Payout, revenue tracking and reporting. These are just a few of the myriad responsibilities you deal with every day. Excalibur can help you handle these often complex activities and find ways to make doing so faster and more precise.
Excalibur Asset Management handles materials inventory, leasehold costs, material transfers, fixed assets depreciation, cost depletion, and statutory percentage depletion. Interactive data validation, depreciation and depletion accounting controls and multiple reporting options are just a fraction of the features this module provides.
Authorization for Expenditures
Fully integrated with other Excalibur systems, Authorization for Expenditures speeds data entry, establishes AFE control and reporting. It streamlines approvals and distribution to partners, automatically comparing field tickets data to your budget and invoices.
Joint Interest Billing
Multiple parties are involved with virtually every energy project, which can create a very complex billing scenario. The Excalibur Joint Interest Billing (JIB) system integrates with transactions flowing from the Accounts Payable, Accounts Receivable, Asset Management and General Ledger systems. Other features enable accurate division of interest calculation, automatic overhead payment and invoicing, and customized reporting.
Excalibur's MMS-2014 Reporting system is the most comprehensive MMS royalty system available. It automatically calculates actual take, modified take, and entitlement basis royalties for both federal and Indian agencies. Additionally, the MMS-2014 reporting system provides online payment inquiries and a complete suite of historical and analytical reports.
Excalibur Payout system eliminates the need for maintaining this reporting function on spreadsheets outside of your accounting system. Data integrity is maintained throughout the system and a plethora of reporting options give you a foundation to analyze cash flow from any perspective important to your organization.
The Excalibur Revenue system is among the most comprehensive and sophisticated revenue systems available in today’s market. It easily handles all industry-standard revenue processing, as well as the most complex and difficult revenue scenarios brought about by changing government requirements.
State Tax Reporting
Variations in requirements from state-to-state can lead to confusion and wasted effort. The Excalibur State Tax Reporting system provides severance tax and other tax reporting for the many states in which the oil and gas industry operates. Common files and programs are shared by all reporting states providing uniformity and efficiency for setting up report-specific and property-specific tax information.