WolfePak Gas Allocation System
Well-level control for distributions and general ledger entries
The WolfePak gas allocation system (GAS) is a revenue billings add-on developed to allocate gas and liquids sold, and plant fuel back to individual wells, using the terms of the contracts, check meters and gas analysis tests. The module produces an easy-to-read settlement statement for each well, sorted by operator.
Additional system features include:
- Well contracts determine payment amounts (calculated as a percent of proceeds or percent/offset of index basis
- Treats liquids differently than residue
- Charges penalties for out-of-spec gas or excess nitrogen
- Amortization of capital costs to deduct from well proceeds
- Requires revenue billing to distribute monies, deduct taxes and produce 1099s
- Automatically feeds entries to the revenue system for optional severance tax computation and distribution to operator/royalty owners
- Create general ledger entries to record income from fees, amounts distributed, etc
