WolfePak ERP - Midstream

WolfePak ERP for Midstream Players

The only solution in oil & gas accounting built for the way you work

If you’re a first purchaser and you don’t use WolfePak, you’re missing the advantages of the only purpose-built solution for your business. WolfePak is a comprehensive, integrated crude oil purchase system, developed to support crude oil purchases with various data capture technologies.

This set of core modules integrates with the WolfePak Revenue Distribution System and the General Ledger. You can manage the purchase, sale and distribution of oil production, perform allocations on purchases, and value purchases with different pricing methods.

This midstream accounting package lets you take title of production from oil & gas wells and issue disbursements on behalf of the operators. You can account for transactions connected to pipelines and hauled transactions — WolfePak handles netting of tickets, multiple pricing options and different penalty scales. View the included modules and additional available modules.

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Flexibility and control

The system makes it easy to generate oil run statements, regulatory reports and severance tax reports, transfer volumes and values for revenue disbursement and related accounting entries. Other functions include:

Netting of tickets, taking gravity, temperature and BS&W into consideration
Electronic ticket interface options
Ticket and multi-level allocations
Mass ticket correction utility (automatic creation of reversed tickets for correction plus audit trail
Inventory tracking
Unlimited price & composite indexes, tier pricing, date-sensitive contracts
Billing/hauling rates, driver commissions and sales statements
Scale adjustments by BS&W, gravity, sulfur and volume
Unlimited early pay options
Cost of crude oil report
Operator oil run statements
State regulatory reports
Severance tax reports
Inventory comparison reports
Run tickets capture loading/offloading measurement information, plus seal number
Import/export oil & gas purchaser statements via CODE (Crude Oil Data Exchange), CSV or Sentinel
Automatic creation of reversed tickets for corrections plus audit trail
Track historical and current pricing information, including price index information and related price contracts
Quick and easy entry and retention of tank table information and “strapping” data
Multiple criteria to view and correct historical data if necessary
Multiple reporting options:
- Daily disposition
- Run ticket detail and edit
- Inventory/sales comparison and inventory variance
- Driver commissions
- Crude oil costs

Detail and automation revenue distribution

The WolfePak revenue distribution module makes first purchasers more efficient, with the ability to manage DOI, withholding, taxes and other changes:

Track all DOI changes and suspense-related calculations
Distribute funds via check, ACH or wire transfer
Owner option to email check stub information, print or both
Calculate/report state and federal backup withholding
Automatic severance tax calculation
Mass change utilities and correction utilities
Mass DOI changes for ownership transfer
User-defined suspense codes up to 99
Print division order letters for ownership changes

WolfePak Software provides a complete midstream accounting and ERP package that solves the headaches of production, transporting, hauling and revenue distribution.