PakEnergy Software for the Midstream

The First Purchaser module processes integrated oil and gas tickets from nominations to price contracts to statements to inventory and economics. Some of the functions include:

• Netting of tickets, taking gravity, temperature and BS&W into consideration
• Multiple reporting options: daily disposition, run ticket detail, crude oil costs, state regulatory reports, severance tax reports and more
• Unlimited price & composite indexes, tier pricing, date-sensitive contracts
• Track Nominations versus Actuals, Inventory Valuation, and Economics

The General Ledger is the heart of the PakEnergy accounting system. Task-specific input screens permit natural data entry for functions such as A/P and Deposit Entry, without having to think about debits and credits. The PakEnergy system provides easy access to summarized and detailed data, using view screens and flexible reporting options:

• Real-time view of account balance trends grouped by account and/or cost center, with drill down features for more detail
• Unlimited number of companies (companies can share vendors, customer, properties, owners, accounts, report definitions and more, or each company can have its own set)
• Trend reporting (monthly, quarterly, semi-annual, and/or annual) at cost-center level (well level) or summarized and/or grouped into one or more reporting groups (state, county, operator, field and/or user defined fields).
• Print groups in multiple levels of summary and/or detail
• Unlimited number of user-defined reporting groups of cost centers

Automates the distribution of revenue to well interest holders including working interest owners, royalty interest holders and override interest holders. The PakEnergy revenue distribution module gives you the detail and control you need with an audit trail for investor oversight.

• Maintains audit-trail and detail-level suspense information for each owner
• Allows easy correction of distribution problems for multiple months/owners
• Prints separate or combined revenue and JIB statements

This unique PakEnergy application streamlines the entry and import of your revenue data, including support for multiple import capabilities:

• Electronic import of revenue information through spreadsheets or electronic data exchange (CDEX) via Oildex and/or PDS saves time
• Missing Payments reporting tracks purchaser or operator payments to ensure receipt of all checks
• Variance analysis report compares receipts property by property with prior month, prior year or any date range
• See totals and variances of BBL/MCF (volume), price per unit and net revenue
• Customize input screen for each purchaser or operator for quick, unique entry of revenue check detail

The 1099 module handles your IRS reporting requirements for 1099s by printing forms or creating an electronic file to upload to the IRS FIRE system

• Supports 1099-MISC, INT, DIV, R, S, 1098-Mortgage Interest, 1042–Foreign Withholding, and DR21-W (Colorado Withholding)
• Extracts data from check history to complete these forms (except 1099-R and 1099-S)
• Provides a supporting schedule listing all payments made with check date, number and details

Accounts payable shares data with the general ledger, giving you an integrated program for tracking and paying vendors, as well as the appropriate billing of owners/investors with the integrated Joint Interest Billing module:

• Integration with core modules — including document imaging, general ledger, JIB and 1099s
• Integrated bank reconciliation system for easy account balancing and sharing with A/P, revenue and payroll
• Print checks on preprinted or blank check stock complete with MICR encoding
• Write checks based on due date and/or vendor and/or selection of invoices
• Electronic review and approval process prior to cash disbursements (define one or more users for review and approval before cash distribution)