AFE Balloting & Non-Consent Tracking

AFE Balloting & Non-Consent Tracking

AGE BALLOTING & NON-CONSENT TRACKING

AFEs for all occasions!

SSI Oil and Gas Accounting Software has got it going on! SSI handles just about everything imaginable in the world of AFEs, quick and EZ.

At its most simplistic level, whether you have an AFE for Drilling, Completion, Re- completion or multiple AFEs on any/all of the above for a well, SSI provides the ability to enter an AFE budget using the 3-digit cost categories – the same ones used to enter invoices to well/category.

SSI is completely integrated, which makes it so easy to…

1. enter the AFE budget amounts by cost category
2. enter actual costs against those budgeted categories
3. review AFE budget to actual reports at any time

Everyone, from top-tier management to clerical, can easily see and recognize the budgeted costs by category and corresponding actual costs.

However…SSI's AFE module does much, much more.

What else does SSI bring to the table for AFEs?
    Drilling (BCP) and Completion (ACP) AFEs and Prepay Requests

• Auto-load owners from Active or Title DOI, or individual manual entry of owners and WI percentages, to auto-calculate and generate investor documents for AFE Prepay requests, based on 8/8ths AFE budget times proposed investor Working Interest.
• Owner Preliminary Review and Acceptance – aka election letters, WITH a due date, WITH a signature page and WITH user-defined legalese to accompany the AFE and prepay information, and WITH a SAVE for future use button.
• Ability to increase/decrease proposed Working Interest ownership and provide updated election documents, as many times as necessary.
• Upon receipt of signed election letter, a few quick clicks will update Accounts Receivables, the Active DOI table, and Well AFE detail for prepay requests.

There's more!
    Workover/Recompletion AFEs and Prepay Requests

• Especially designed for workovers and recompletions, auto-calculates a re- allocation of any non-consent interest offered to other working interest owners, based per owner on a percentage of the whole, or a flat increase in ownership percentage. And of course! Includes an updated Owner Review and Acceptance document/signature page with due date and custom legalese.
• At-a-glance designation of Consent, Non-Consent, and Increased WI on owners taking their share of additional non-consent interest offered.
• Upon receipt of election, post process will make corresponding assignments in SSI's Chain of Title historical DOIs, showing the non-consent interest owners and the owners taking additional non-consent Increased WI, with the effective date of ownership change, and will update all applicable archived DOIs.
• Auto-updates the well Active Division of Interest ownership, flagging non-consent owners appropriately.

Anything else?
    Integrated to SSIMail
    A no-brainer. AFE budget, election letter, and prepay request can be emailed to recipients.

If that's not enough...

Multiple AFEs

Forget that “here a well, there a well” nonsense. SSI Oil and Gas Accounting Software provides the ability to have multiple AFEs attached to a single well.

It's not as common on drilling and completion AFEs, but its real common on recompletions. Don't delete the first recompletion AFE to add the second - you don't want to lose your history - and for heaven's sake DO NOT set up a separate well number for a second recompletion (or 3 rd or 4 th ). YUCK!

The answer is multiple AFEs. It's a MUST in SSI, and the advantage is having ALL the history for all the AFEs on a well ALL in one place. It's mix and match, which means the drilling/completion AFE can be a single AFE, and multiple recompletions can use Multiple AFEs, or use Multiple AFEs for all. The actual cost transactions use either the well number or Multiple AFE number, depending on your needs for Drilling, Completion and Recompletion. It's all up to you.

AFE Budget to Actual Reporting

SSI provides month-end budget to actual reports, and also mid-month drill down AFE reports. There's no need to ever wonder about how the actuals are doing against the budget. It's always at your fingertips.

Don't be scared, AFE processing is EZ to implement and execute. In SSI, right click on the AFE03 button, then select Help for on-line instructions for AFEs, Prepay Invoicing and Non-Consent Tracking.

AFEs from start to finish. Drilling, to completion, to recompletion(s), your SSI Oil and Gas Accounting software can accurately account for ownership, prepays, assignments, and does it in a way that is quick and EZ to retrieve and quick and EZ to review!

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