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:
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
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
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