Financial, operational accounting and land management software for emerging and mid-sized oil & gas companies

 

Revenue

The Excalibur Revenue system is the most comprehensive and sophisticated revenue system available today. It easily handles all industry-standard revenue processing, as well as the most complex and difficult revenue scenarios brought about by deregulation and changing government requirements. The Revenue system handles, among other functions: divisions of interests (DOI), sales volume and value entry, tax and expense deductions, revenue distribution to owners, suspense processing (including escheat and escrow), and revenue accruals. Additionally, P2 supports industry standard business to business automation tools such as CDEX and Reddog revenue check distribution. Excalibur also supports an internal check stub distribution process to eliminate the cost and effort associated with mailing check stub detail. This system integrates with other Excalibur modules including Joint Interest Billing, Accounts Receivable, Production, Gas Accounting and Control, General Ledger and Asset Management.

Division of Interest Features

• Effective-dated DOI for matching correct DOI to gross sales
• Unlimited number of DOI allowed for a property
• DOI can be product-specific or allow for multiple products
• Can associate purchaser, contract, or both with DOI for gas users
• Copy feature for creating a new DOI from an existing DOI
• Allows different sharing ratio capabilities for different components such as taxes and expense deductions within a DOI
• DOI recalculation on tax and expense components where owners are tax or contract exempt
• Online display of DOI with multiple sort options available
• Allows mass owner and pay code changes
• Unlimited user-defined suspense codes, interest types and pay codes
• Total interests must always add up to an exact 100 percent
• Online search and display of all DOIs for specific owners
• Provides ability to point multiple wells that have common ownership to single well to avoid redundancy in maintenance, while still booking on individual well basis

Gross Sales Entry Features

• Purchaser check stubs formatted in the system to speed data entry
• Purchasers property ID cross-referenced to system property ID
• Application of valid DOI to gross sale transactions
• Online display of both 8/8ths gross and receiving interest amounts
• Interface with Gas Accounting and control system to automatically generate gross sales entries from gas volume processing
• Interface with Check Stub Data Exchange (CDEX) to automatically generate gross sales entries from purchasers who participate in this service
• Electronic entry of gross sales via Excalibur Data Interchange (EDI)
• Allocation of sales from a main property to any number of sub-properties
• Reversal of previously distributed and already paid items
• Price calculations based on product price and gravity scale tables

Expense Deduction Handling

• Unlimited user-defined expense deduction components
• Effective-dated expense deduction components
• Automatic calculation and verification of deductions by property

Check Writing Features

• Check processing and preparation for both printed and electronic funds transfer (EFT) to bank
• System-generated checks reside in a hold file for discretionary printing or reprinting capabilities
• A flat file is created for transmission to bank for EFT payments
• System-generated checks print on continuous-form check stock or as laser checks
• Manual check processing with system-generated remittance advice containing full owner check detail
• Void check processing with option of allocating the detail sales to another owner
• Interface with CDEX to electronically transmit an owners check stub data for owners who participate in this service

Accounting Controls and Features

• Generation of all accounting entries including:
  • Net company share of all gross sales components
  • Revenue payable and cash for amounts distributed to owners
  • Suspended revenue
  • Payables for taxes and expense deductions that are to be remitted
  • Revenue receivables
• Intercompany posting to the affiliate company’s detail revenue and tax/expense accounts
• Ability to net owners' share of JIB expenses against owners' share of revenues at the owner or well level
• Ability to net owners' revenue against owners' AR balance
• Generates detail billing and invoice to a netted owner if the owner's expenses exceed the owners revenues
• Interface between Revenue gross sales data entry and Accounts Receivable to verify that the cash receipt has been recorded for the gross sale
• Ability to establish validation conditions for calculation and comparison of prices, volumes, values, taxes, expense, deductions and amount received
• Ability to batch balance by purchaser check or by any component of the sale
• Transaction codes provide an audit trail for processes such as price/volume adjustments or reversals
• Audit trail within owner detail for allocated or transferred suspense transactions and for void check transactions
• Enter and process adjustments at the owner detail level and provide proper 8/8ths amounts for split stream situations

Reporting

• Comprehensive pre-distribution and post-distribution edit, processing and transaction reports
• Variance exception reporting based on user-defined percentage or dollar tolerances on any component of a sale
• Complete suite of gross sales reports by property and detail sales reports by owner
• Online inquiry of detail sales history by well and by owner
• Complete federal and state 1099 reporting on magnetic media
• Colorado DR21W report

Suspense Handling

• Ability to perform detail or mass changes of pay status by owner or well
• Allocation of suspense details from one owner to many owners
• Ability to escheat suspended funds to any state for unclaimed properties and to escrow suspended funds to designated banks for subsequent distribution to owners
• Ability to override company level minimum suspense amount at an owner level

Revenue Accounts Receivable

• Automatic small balance write-off
• Capability to adjust balances by purchaser, property and product
• Ability to roll up abstract-level gross sales to the unit level for receivable posting purposes when cash is recorded at the unit level while gross sales are recorded at the abstract level
• Comprehensive open receivable and aged receivable reports by payor and by well

State Tax Maintenance

• Unlimited user-defined tax components
• Effective-dated tax tables by state and district and capability for multiple tax districts within state
• Capability of multiple tax districts and tax rates per state
• Calculation or verification by property and special calculation routines for nonstandard taxes
• Ability to calculate and verify full or partial reimbursement
• Automatic interface to Excalibur’s State Tax Reporting system for regulatory reporting compliance

Product Pricing

• Effective-dated oil price bulletins by purchaser, area and oil quality
• Effective-dated oil gravity scale adjustment files
• Ability to apply bonus or penalty to oil price
• Automatic conversion of entered MCF to MMBTU and vice versa, based on BTU content of gas

Accrual Features

• Calculation, processing and user-specified level at which accruals are generated and reversed
• Accrual reversals are created in the accounting period during which the actual sale is recorded
• Accrual volumes on historical revenue sales volumes, current sales volumes, fixed volumes or manual entry
• Accrual values based on historical revenue sales values, current sales values from the Production system, revenue pricing tables or manual entry
• Ability to specify number of months to average when calculating accruals based on historical revenue sales volumes or values, and to specify the number of months to lag before calculating average volumes and values
• Generation of all accounting entries for operating company and affiliate companies including net share of all accrued gross sales components and accrued revenue receivable