Review, Allocations, Processing, Printing/Distributing, Overhead Calculations, etc.
The purpose of Oil and Gas Joint Interest Accounting is to bill any working interest holder within an oil and gas property for expenses. This includes entering expenses owed for working interest in wells you do not operate. The process is not only entering and paying the expenses through the ERM (enterprise resource management) system. JI accounting includes entering journal entries for different overhead charges, material transfers of equipment, field employee costs, expenditure allocations, rentals, and other monthly charges not covered by invoices. Analysis of the expenses charged or those being charged requires understanding the Joint Operating Agreements for wells along with company policies and procedures.
- Calculation of overhead amounts on operated properties and yearly escalations
- Analysis of overhead charged by partners
- Allocation of all allowable charges to proper wells and categories
- Calculation of amounts for all owners by property
- Analysis of proper charges by partners