Well History Reporting
The Well History Reporting System is the most immediately beneficial tool of the SSI Oil & Gas System with respect to operational management decision-making. While Purchasing the optional SSIQ Ad Hoc Query and Report Writer would provide the ultimate flexibility in information retrieval, many users find the volume of report formats and options offered by this module more than sufficient for all management needs. Included in this module is the Annual Well History Report that provides a full, rolling twelve months of profit trend analysis for the user-company's working interest. This report can be used to gain full fiscal year balancing well reports.
Optional companion modules include the Well History Consolidation module and the Well History Detail Reporting module. The Well Consolidation module provides a myriad of property consolidation schemes using a large number of standard system fields as well as the 30 user-defined fields known to SSI users as "Well Groups". These consolidation facilities provide a multi-level profitability tracking with unequaled flexibility. The Well Detail History module provides historical expense analysis methods at the detail category level (e.g. electricity, fuel, etc.).
SSI Well Pay-Out – Production/Service Date and Accounting Basis
The SSI Oil & Gas Accounting Systems allows entry of associated service date for all well related expenses. While it is possible for the Service Date to be the same as the invoice date, it is more common for the invoice dates to be, like revenue, many days (several months) behind the date the services were actually rendered. This concept applies to Revenue Receipts; the check will lag months behind the actual run-date production.
To accurately analyze trends (especially drilling, re-completions and/or workovers within the same well bore) SSI facilitates WELL HISTORY REPORTS ON AN ACCOUNTING MONTH BASIS or PRODUCTION MONTH BASIS.
This enables users to print workover cost analysis with the proper expenses aligned by service date in congruence with revenue run month, allowing quicker, more concise evaluation of the asset investment.
This is the only TRUE METHOD of cost evaluation. Our competitors allow run month analysis of revenue but do not allow service date alignment of expenses.
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E.B. Archbald & Associates Inc., 6701 N. Broadway, #310, Oklahoma City, OK 73116. Tel: 405-840-4411; Fax: 405-840-7026.