Software, data and services for the
upstream oil and gas industry.


Energy Management Software for emerging and mid-sized oil & gas companies

 

Payout

The Excalibur Payout system is a comprehensive, flexible and easy-to-use system that integrates the payout reporting function into the accounting system. The Payout system accommodates multiple payout scenarios including nonconsent or carried interest payout situations. For specified payout scenarios the system accumulates 8/8ths gross revenue and expenditure amounts, applies the appropriate penalties and factors as you specify, and produces comprehensive statements. The Payout system eliminates the need for maintaining this reporting function on spreadsheets outside of your accounting system. This system is fully integrated with other Excalibur systems, including Joint Interest Billing (JIB), Revenue, Land Lease Records and General Ledger.


Data Entry Features

  • User-defined payout masters or scenarios are applied to specified multiple properties such as wells and leases, both operated and non-operated, as well as specified owners
  • Parameters for payout masters are user-defined and include:
    • Penalty percentages by type of expenditure
    • Exception penalty percentages by account or group of accounts
    • Dedication factors by revenue product
    • Revenue components to be excluded from the scenario
  • Allows well or lease beginning balances to accommodate acquisition situations
  • Allows adjustments by well or by lease to accommodate unusual situations
  • Allows unlimited remarks which explain the purpose of adjustments including Standard remarks, Custom remarks, and multiple remarks for an adjustment

Accounting Controls and Features

  • Payout ledger maintains data integrity through the use of:
    • Expenditure data posted directly from JIB system transaction files
    • Revenue data posted directly from Revenue system transaction files
    • Adjustments and beginning balances that are recorded solely within the payout ledger so that these entries need not be booked to the general ledger
  • Updates payout ledger monthly to include all revenue and expenditure transactions processed since the prior month’s update
  • Payout masters or scenarios control how payout is calculated and multiple payout masters can be applied to a specific property
  • Penalties applied are not limited to a single percentage for all types of expenditures:
    • Penalty percentages within a specific payout master can vary by type of expenditure such as drilling costs and lease operating expenses
    • Exception penalty percentages can be applied within a specific type of expenditure based on an account or group of accounts
  • Application of revenues can be controlled by:
    • Dedication factors which may be applied on a revenue product basis
    • Capability to exclude revenue components (any specified tax or expense deduction) that are not applicable to the payout scenario
  • Payout detail information is consolidated into summary records to improve processing time and minimize disk storage requirements

Reporting

  • Payout statements can be produced for a specific month or for a range of periods
  • Payout statements are produced by payout master (scenario) for specified owners
  • Payout reporting is available by both accounting period end date and by activity (service or sales) date
  • Comprehensive information provided on payout statements including:
    • Range of periods activity detailed by revenue product and type of expenditure
    • Range of periods revenue volumes and prices by revenue product
    • Inception-to-date activity detailed by revenue product and type of expenditure
    • Penalty and dedication factor percentages by type of expenditure and revenue product respectively
    • Calculated payout amounts based on the applied penalty and dedication factor percentages
  • Payout reporting over a date range available in two formats:
    • Detail statements provide a separate report for each fiscal period in the reporting date range
    • Summary statement summarizes on a single report all activity in the reporting date range
  • Payout reporting available at the well level, lease level, or at a higher level of grouped wells and leases
  • Payout statements can be produced for non-operated properties, as well as for operated properties
  • Other payout system reports include:
    • Payout status report which lists all wells that have reached payout
    • Payout master report which depicts how each payout scenario is set up
    • Payout ledger posting report which lists all revenue and expenditure transactions which have been posted to the payout ledger from the Excalibur Revenue and JIB systems, respectively and also displays all adjustments that have been entered to the payout ledger