WolfePak ERP Software for the Midstream
This midstream oil and gas software package is a comprehensive, integrated purchase system developed to support crude oil buying (first purchasers) that can integrate with various data capture technologies.
- Manages the purchase, sale and distribution of oil production.
- Performs allocations on purchases and values purchases with different pricing methods.
- Accounts for transactions connected to pipelines and hauled transactions.
- Handles the netting of tickets, multiple pricing options and different penalty scales.
Highlighted Modules for Midstream and First Purchasers:
Revenue Distribution
Simplify revenue distribution for countless properties to unlimited owners
Easily correct distribution errors for multiple production months
Provides audit-trail and detail-level suspense information for each owner
Creates real-time entries to the general ledger
First Purchaser
Handles netting of tickets, various pricing options & penalty scales
Netting of tickets, taking gravity, temperature and BS&W into consideration
Unlimited price & composite indexes, tier pricing, date-sensitive contracts
Run tickets capture loading & offloading measurement information, plus seal number
Quick and easy entry and retention of tank table information and “strapping” data
General Ledger
For deeper understanding and a tight grip on financial performance
Real-time view of account balance trends with drill down features for more detail
Unlimited number of user-defined reporting groups of cost centers
User can design custom financial statements or use pre-defined standard reports
Optional consolidation reporting for multiple companies
Full audit trails for creation and approval of entries
Additional Features
System runs unlimited sets of books
Unlimited financial reporting groups at various levels
Consolidation and multi-company roll-ups available
Billing/hauling rates, driver commissions and sales statements
Lease-level & owner-level correction utilities for revenue and billing
Escheat of unclaimed property for all 50 states available
Multiple reports - cost of crude, regulatory and severance tax
Positive pay file to send to your bank for fraud prevention
Midstream Oil & Gas Software Core Modules
Add-On Modules to Consider
Extend the functionality of WolfePak with various add-ons that automate and integrate multiple functions and processes.
Resources
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