Create, update and track payout scenarios with unparalleled ease and accuracy & manage after payout interests for non-consent partners
Joint Operating Agreements (JOAs) may have multiple working interest partners or mineral interest owners and when several of them go non-consent for activities (such as drilling, completions, etc), it is a monumental task to keep track of the recovery of penalties with multiple payout scenarios over the life of the well. The inputs needed to calculate these scenarios are sourced manually from accounting systems. Multiply this by the number of wells and you’ve quickly exceeded the capabilities of spreadsheet applications. The result can be unpleasant at best. Payout Manager helps accountants create, update and track payout scenarios with unparalleled ease and accuracy.
BUSINESS BENEFITS
- Replaces time consuming, error prone, excel-based generation of payout statements by well or owner
- Eliminates the need for maintaining reporting function on spreadsheets outside of your accounting system
- Integrates data from your accounting system, enabling a snapshot of payout accounting for the users
- Helps forecast and proactively prepare for imminent payout recovery events and subsequent revenue sharing
Features
- Manage after payout interests for non-consent partners
- Generate payout statements to be sent to non-consent partners
- Maintain payout statements from operating partners for customer to track when payout has been reached
- KPI Dashboard of key payout metrics