It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.
The SSI Joint Interest Billing software system provides all the necessary tools to provide your working interest owners with complete information regarding their well expense obligations. Besides interfacing to General Ledger and Accounts Payable to extract well expenses and interfacing to Accounts Receivable for invoice posting, this JIB accounting system interfaces to Well History and Production Reporting to provide a myriad of management-oriented, exception-based reporting.
The SSI Revenue Payables system provides a complete application module for entering, editing, and distributing received revenues and deductions on oil and gas properties. With our unique feature of Chain of Title processing, “decks” are no longer needed as revenue distribution becomes production date-sensitive and payable processing utilizing previous DOIs becomes much easier.
The SSI Authority for Expenditure (AFE) module provides complete control of capital costs and expenses throughout all phases of the development project. The AFE module is fully integrated with Accounts Payables, General Ledger, and Joint Interest Billing modules, providing one-source data entry. This module also provides unique AFE budgeting for the development phase, completion phase, work over phase, as well as miscellaneous non-JIB phases. The AFE Invoicing enhancement can be used to print AFE pre-bills (or “cash calls”) based on the Working Interest percentage for each participating investor. The AFE Invoicing module integrates into the Accounts Receivables and Well DOI information modules, providing the same one-source entry.
Track Non-Consent Working Interest Owners automatically. In the SSI platform, the assignment of WI as Non-consent to other WI Owners automatically creates calculation and tracking of non-consent payout. This eliminates the need for off-system spreadsheets and calculations and improves your energy accounting accuracy.
The SSI Well Management system is the repository for all of the necessary flags, descriptors, and codes that are used by the SSI Energy Management System. User-defined codes such as lifting codes, status codes, well groupings, and more are maintained to provide the user with maximum flexibility. This module is designed to interface with the General Accounting module as well as the Oil and Gas subsidiary modules.
COT EZ – What is included in SSI’s COT EZ? Within one date-defined record, there are:
Drilling, completion and JIB interests
Working, royalty and override NRIs
Non-consent burdensAfter payout burdens
Gas marketing burdens and balancing
Effective-Date DOIs for date-sensitive revenue distribution and JIB
Revenue Netting by well
Revenue Taxable status (exempt)
Revenue Pay Cycles
And much, much more
Chain of Title is complicated! SSI makes is EZ! All the above ownership is held in one place, shared by all, globally used by application. One assignment will change all of the above. What could be easier than that? Are you stuck with “here-a-deck, there-a-deck, everywhere a deck-deck?” Other software products are nothing more than quacks! Learn More (link)
The SSI Well History Reporting system (Lease Operating Statements) is the most immediately beneficial oil and gas software application in the SSI Oil & Gas System. This module is intended for, and indispensable to, operational management decision-making. Many users find the volume of Well History report formats and options offered by this module to be superior for all management needs. Included in this module is the Annual Well History Report that provides a full, rolling twelve months of profit trend analysis for the user company's working interest. This report can also be used to gain full fiscal year balancing well reports. Optional companion modules include the Well History Consolidation module and the Well History Detail Reporting module. The Well Consolidation module provides a myriad of property consolidation schemes using a large number of standard system fields as well as the 30 user-defined fields (known to SSI users as Well Groups). These consolidation facilities provide multi-level profitability tracking with unequaled flexibility. The Well Detail History module provides historical expense analysis methods at the detail category level (e.g. electricity, fuel, etc.).
SSI has teamed up with GreaseBook, a mobile app specifically designed for operators and their pumpers. GreaseBook guarantees you a 2-4% increase in production with zero ramp-up time, no contracts, and a 110% money-back guarantee. By importing your production from the GreaseBook app, SSI reconciles your oil sales, and provides you with a multitude of oil and gas production reports including:
Automatically import the burdens associated with working interest parties when creating the gas market group. Allocate dedicated gas sales to the market group and communicate the dedication, receipt percent and the true ownership percent to each revenue recipient via the check detail. Integrated to SSI’s Chain of Title, the gas market group is automatically updated when the assignment is made. Burdens are always in balance as they too are assigned during assignment processing.
Integrated with the Gas Market Group application, this module provides wellhead entitlement balancing to all participants. It automatically adjusts the balance positions of all parties when an event occurs. These events can include sales, adjustments and assignments. The SSI Gas Balancing system recalculates each participant’s balance position from the date of the event forward to the present, for as long as the data is available on SSI. Owners are individually balanced by JIB, All Revenue Interest, and Oklahoma PPI facilitating all state balancing requirements. An owner may be assigned to a Market Group for gas balancing statement preparation and their position will be rolled up into the gas marketing agent such as the operator or others who are marketing their gas.
Keep track of the payouts of Working Interest owners when accounting for reversionary interest events. Save time and eliminate off-system spreadsheets and calculations by allowing SSI to track these events for you automatically, as a by-product of accurate JIB allocation, revenue distribution, and assignments. Payout may even be calculated from 8/8ths values if revenue or JIB is not performed for the investor. In either case, SSI will always inform you of an investor’s payout position. You may only choose to see those that have paid out, allowing you to specifically address what reversionary assignments need to be made. SSI’s Chain of Title maintains reversionary back-ins at payout and will make the payout assignment at the click of the button. What more could oil and gas software with a payout tracking system do to make your job easier?
eCabinet EZ - Allows the set up for various types of contracts, documents, or certificates (JOA, Division Orders, Certificates of Insurance, and W-9’s for example) and may be associated or “linked” to owners, vendors, well masters, etc. Designed with Doc EZ in mind, each contract can be scanned and associated to a specific Contract Type, as defined by the user. Contracts include important dates for signing, starting, ending, re-determination, and notification. Inquiry/Print routines allow for including only contracts within a selected date range, and allow views from any of the linked parties. SSI offers the ability for users to get a bird’s eye view from the Contracts database, or you can view the actual scanned source document in order to Make Your Job Easier.
SSI’s Leasehold Depletion Module does the heavy lifting as it calculates Cost Depletion, Cost Depreciation, and Cost Amortization based on Units of Production. This module calculates, prints, and maintains the following:
Trial Schedules can be produced at any time, giving you an oil and gas accounting solution that simplifies Tax Depletion computation. Almost any report you need can be instantly generated to Make Your Job Easier.
The SSI Well Equipment & Inventory application provides the history of the equipment at each well and all equipment owned by your company by yards. View equipment by location, by product type or by vendor, and use material transfers to move equipment between wells and in or out of a yard. This essential module will help you make sure that equipment is sold for the desired price by understanding the current basis value of each piece. This piece of must-have petroleum industry software will save you time while ensuring that the location of all equipment is known at all times. Ever wonder what salvage value may truly be on a well? You do now!