Rig Cost Accounting

Rig Cost Analysis designed by drilling companies for drilling companies.

The only Industry-standard Rig Cost system integrated to General Ledger, Accounts Payable, Accounts Receivables, Fixed Assets and Payroll that compliments Oil & Gas Accounting.

Job information reported by client/location with contract summary information including footage rate, day rate, start/completion dates, days on location by month and drilling footage by month.

Cost analysis by rig by job by user established categories/descriptions include:

• Accumulation of cost by current month, fiscal year-to-date, and inception-to-date, cost per day and cost per foot with budgeted comparatives to total cost.
  
• Percentage of each user-defined category (description) expense related to total income.
  
• Consolidation by rig for "Six-Up" comparative reporting for rig with totals for all jobs allows quick analysis and review.
  
• Reports present "units" used for each job. (ie..fuel gallons, payroll hours, number of bits, etc….)

Sophisticated Payroll interface permits:

• Entry of payroll hours by "Tour" sheet
  
• Auto-calculation of overtime by week
  
• Virtually unlimited employee entries by pay period allowing multiple rates, multiple job descriptions, multiple tours
  
• Workman's Comp / General Liability / FICA calculation allocation to rig/job
  
• Payroll History by employee by pay period for unlimited years for audit
  
• Indirect allocation of general/administrative/inventory overhead based on days on location.

Up to nine equipment classifications such as rigs, trucks, swabbing units, yard equipment, etc… for job cost and income contribution by equipment classification.

E.B. Archbald & Associates Inc., 6701 N. Broadway, #310, Oklahoma City, OK 73116. Tel: 405-840-4411; Fax: 405-840-7026.