The Well Distribution system is designed to make it easy to run production checks to all owners. It also provides us with ample reports and histories to evaluate production histories of all owners.
Monthly Well Revenue Distribution:
Our goal is accurate information having the ability to explain why monetary amounts were disbursed as they were. We do not enter a lot of data without the ability to determine that there is a problem. For a small to mid-sized company this method of distribution works well.
Contract Administration:
Being a producer in the Appalachian Basin we needed methods to track paid production volumes separately in Pennsylvania and West Virginia. This is particularly important if you operate in more than one state and you are trying to determine production volumes by state or meter. This is handy should you be limited by contract to allowable volumes.
Tax Information:
Naturally we have to deal with Severance and 1099 Tax Reporting. The owners need not worry about these taxes being calculated and paid because this data is part of our distribution system.
