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Upstream Products Suite

Revenue Accounting

Detailed Revenue accounting handles client’s largest properties and most complex allocation networks. Pays working interest and royalty owners efficiently and timely. Provides complete SOX and audit controls and combines the full functionality of upstream revenue accounting with Waterfield’s rich user interface and advanced land management.

Accrual (Estimate) Modeling

This module is used by the producer to accrue volumes and values for wells which may or may not process through a gas processing plant. Will create a monthly flash (accrual/estimate) for an asset. Can utilize estimated or actual volumes, incorporate new volume or contract streams and provides accuracy typically within 2% of actuals. System can also be used to identify differences between actual and accrual.

Contract Management

Provides management and reporting for all corporate contracts. Use Contract Workflow to track a contract from draft to signature and route appropriately. Proactive alerting tells users when contracts are due for renewal and provides economic data on the performance of the contract. Attach a variety of documents including PDFs, Word documents and email text to the contracts. Make the job of contract management personnel easier, while integrating with revenue accounting to ensure single point of data entry and full SOX and audit compliance.

Land Management (Division of Interest)

Manage properties, leases and division orders easily using this upstream module. Can be integrated with client’s existing revenue accounting system or delivered with Waterfield’s upstream revenue accounting package. Built in partnership with a major E&P company, this module provides advanced owner management and clear audit history with the controls necessary to run a large organization.

Field Data Capture

Enables mobile operators and field personnel to easily capture volumetric readings and measurements like oil, gas, water, tickets, meters, equipment, well tests, inspections, downtime and other key metrics. Additionally, collect hourly flowback data along with fluid levels, treatments, and other operational readings.  Real time data and a seamless transition between offline and online modes provides the office with the insights needed to make better decisions.  Intelligent data quality checks and validation rules along with an intuitive interface drastically reduce time spent recording data, correcting data and as a result increase operational efficiency.

Forecasting/Budgeting

Forecast revenues from one to many months into the future. Take into account any product, including crude, refined products, NGLs, condensates and residue. Forecast gas revenues through a processing plant or directly to an interconnect. Try “what if?” scenarios based on real asset data to understand the economics of new deals.  Model price sensitivities, decline curves and more.

Multi-Commodity Trading and Marketing

Provides physical management of equity products including gas, NGLs, crude and refined products. Utilizes an advanced forecasting and scheduling module to make this job easy and to provide visibility to schedulers, traders and the back office team. Full invoicing, accounting and credit management are also included standard with this module.  Handles the crude oil First Purchaser case.

Processing Audit

Provides an audit of the processor’s results. Compares producer’s accrual to the processor’s actuals and identifies differences in volumes, prices, or contracts which led to the discrepancies. Automates the job of auditing your plant processor.

Volume Balancing

Balance plant, compressor station, hub or other measurable facility where loss may be an issue at a component level, using inputs and outputs defined specifically for the plant configuration. Operators are able to monitor loss and unaccounted for, for each days production, and flag those losses when they are outside of your specified tolerances.  Management is able to estimate recoveries and view projected sales on a daily basis. This completely automated approach to “balancing” gives your operations staff daily reports showing component level balances and comparing current period to previous. This is essential to identifying equipment/measurement issues quickly, which improves client’s ability to take corrective action in a timely manner. Trend reports provide management with a graphical representation of plant operations and sales.

Joint Interest Billing

Comprehensively manage joint venture agreements utilizing sophisticated overhead calculations and multi-level allocation capabilities.  Joint venture accountants are provided key controls to manage and ensure accuracy of billing results, including owner exceptions, process reconciliations, re-runnable process steps and support for rebilling.   Automated support for importing and exporting standard 3rd party data formats are included to enable efficient sharing of invoice information between joint venture partners.

Authorization for Expenditure

Improve your controls and turnaround time for AFE approvals by taking advantage of integrated workflow and document management features.   User defined AFE types and related budget categories provide flexibility when setting up allowable charges.  Proactive support for developing and booking capital accruals improves forecast accuracy.   Automated support for re-classing work-in-progress for successful efforts accounting method saves time.   Built in references to capital budgets and hierarchy allow for comprehensive capital analysis and reporting.

Financial Accounting

Waterfield Energy’s Financial Accounting solution provides a subset of modules to support general ledger, accounts receivable, accounts payable, and cash management operations.    Key features include built-in end to end controls/visibility, integration with other modules, workflow approvals advanced reporting and leverage of 3rd party services, e.g., OpenInvoice.     These modules  leverage Waterfield Energy’s rich user interface and high volume transaction processing capabilities.   Our powerful business intelligence tool will provide modern analysis and integrated reporting capabilities across the entire Waterfield Energy software solution.

Midstream Products Suite

Accrual (Estimate) Modeling

This module is used by the processor/gatherer to create a flash model (accrual) for volumes and settlement values generated by a gas processing plant as well as gas and crude gathering assets. The module can utilize estimated or actual volumes, incorporate predicted new volume or contract streams and provides accuracy typically within 2% of actuals.  Differences between actuals and accruals may be identified.

Authorization for Expenditure

Improve your controls and turnaround time for AFE approvals by taking advantage of integrated workflow and document management features. User defined AFE types and related budget categories provide flexibility when setting up allowable charges. Proactive support for developing and booking capital accruals improves forecast accuracy. Automated support for re-classing work-in-progress for successful efforts accounting method saves time. Built in references to capital budgets and hierarchy allow for comprehensive capital analysis and reporting.

Contract Management

Provides management and reporting on all corporate contracts. Use Contract Workflow to track a contract from draft to signature and route appropriately. Proactive alerting tells users when contracts are due for renewal and provides economic data on the performance of the contract. Attach a variety of documents including PDFs, Word documents and email text to the contracts. Make the job of contract management personnel easier, while integrating with revenue accounting to ensure single point of data entry and full SOX and audit compliance.

Crude, Refined Products and NGL Gathering and Transportation

Waterfield’s expanded transportation suite includes multi-commodity transportation. The system handles both tariff and contract-based movements. A seamless web-based Customer Activity Website (CAW) makes adding, training and supporting shippers simple and easy. The system provides advanced nomination and confirmation capability, inventory management including inventory layering, and an algorithm for allocation that is unmatched in the industry. Complete back-office functionality for invoicing, general ledger interface, imbalance and cashout management, and sub account management comes standard with the module.

Crude 1st Purchaser

Waterfield Energy’s Crude1st purchaser application allows your marketing/trading organization to manage purchase contracts at the wellhead from operators and integrate into the Division Order and Disbursement functionality.  The formula based contract configuration allows for capturing various modes of transportation costs to achieve a fully landed in cost at a given sales point.  The sales contracts are also managed to balance purchase and sales for commodities, along with bulk contracts, and outright buy/sell agreements.  Take all your purchase contracts and benchmark those in various manners using sales contracts or indices.

Division Order and Disbursement

Integrated with Waterfield’s processing application or as a stand-alone module, this module provides a simplified yet fully featured process for division order management and disbursements.Take transactions from high level payments to individual owners quickly and easily. Provides full audit and SOX compliance.

Financial Accounting

Waterfield Energy’s Financial Accounting solution provides a subset of modules to support general ledger, accounts receivable, accounts payable, and cash management operations.    Key features include built-in end to end controls/visibility, integration with other modules, workflow approvals advanced reporting and leverage of 3rd party services, e.g., OpenInvoice.     These modules  leverage Waterfield Energy’s rich user interface and high volume transaction processing capabilities.   Our powerful business intelligence tool will provide modern analysis and integrated reporting capabilities across the entire Waterfield Energy software solution.

Forecasting/Budgeting

Forecast revenues from one to many months into the future. Take into account any product, including NGLs, condensates and residue. Forecast gas plant revenues based on existing and planned deals.  Try “what if?” scenarios based on real asset data to understand the economics of new deals.   Price sensitivities, decline curves and other variables maybe modelled through the module.

Field Data Capture

Enables mobile operators and field personnel to easily capture volumetric readings and measurements like oil, gas, water, tickets, meters, equipment, well tests, inspections, downtime and other key metrics. Additionally, collect hourly flowback data along with fluid levels, treatments, and other operational readings.  Real time data and a seamless transition between offline and online modes provides the office with the insights needed to make better decisions.  Intelligent data quality checks and validation rules along with an intuitive interface drastically reduce time spent recording data, correcting data and as a result increase operational efficiency.

Gathering

Waterfield Energy’s Gathering product is used by Gathering System Operators who need the ability to track gas or crude movement across their Gathering Systems.  The business transactions originate at a receipt point (wellhead or pipeline interconnect) and deliver to various delivery points including storage facilities, tank batteries, gas plants or pipelines.

Waterfield Energy’s Gathering product tracks the business transaction from Wellhead Confirmations, through Nomination Cycles, through Downstream Confirmation Cycle’s with Pipelines, and Allocations while managing the accounting movements of the product through a Gathering System(s). Gatherers also have the ability through Waterfield Energy’s system to invoice shippers, based on contractual terms, calculate imbalances and create Cash-out Statements.

Waterfield Energy also provides a fully functional Customer Activity website that is integrated with the Gathering Product.

Interstate Transportation (Gas)

Provides full nomination, scheduling, capacity release, contract management, FERC compliance (Interstate), back office accounting for gas transportation through intrastate and interstate pipelines.

Intrastate Transportation (Gas)

Provides for tariff-based and contract rate-based gas transportation including multiple nomination methods, with a complete and easy-to-use Customer Activity Website (CAW) for your shippers.  This configurable module has the flexibility to change with your business needs, typically without the requirement of additional programming.  Includes pooling, imbalance management, working gas management,  and full back office integration from invoice generation through accounting.  This system uses latest generation technology to provide a robust shipper experience.

Multi-Commodity Trading and Marketing

Provides physical management of equity products including gas, NGLs, crude and refined products. Utilizes an advanced forecasting and scheduling module to make this job easy and to provide visibility to
schedulers, traders and the back office team. Full invoicing, accounting, and credit management are also included standard with this module.  This module includes various financial instruments and hedging.

Operational Scheduling

Waterfield Energy’s solution for managing the daily flow of product utilizing a user-friendly software tool. Capturing the configurable cycles, managing the batches within the cycle to constructing numerous scenarios for operational efficiencies is how the operational tool is designed to help pipeline operators. Communication to shippers or even your internal control center can be utilized through the Customer Activity Website (CAW) with published cycles. The visual display on screen, easily editable with quick response time for scenario simulation allows schedulers maximum flexibility to schedule their pipeline assets.

Plant Processing and Gathering

This Waterfield Energy module has become the industry leader in gas processing. Our clients cite ease of use, visibility into the system, best-in-class reporting and unparalleled innovation as reasons for its great success in today’s market. These things, coupled with Waterfield Energy’s ability to make the job of accountants easier, have all contributed to the rapid acceptance of this product as the new industry standard.
The Plant Processing module handles processor payments to producers, complex allocations and virtually any processing contract business development teams can imagine. Used by many of the largest processors in the country, this module is integrated with gathering, division order and disbursements, accruals, forecasting/budgeting and contract management, but can be delivered as a single stand-alone module if desired.

Storage and Terminal Accounting

Waterfield Energy’s solution provides full terminal management for third party products through your facility.  Manage inventories and fees by party, whether one or multiple products.  The system provides an easy-to-use Customer Activity Website (CAW) and all back-office accounting functionality including generating invoices and creating your accounting entries.

Terminal Scheduling

Waterfield Energy’s solution allows customer to access the application through the Customer Activity Website (CAW) to input nominations, update information related to product movement and see their inventory positions within the facility. The system provides utilization reports based on several various metrics, whether that is dock utilization or a maximum throughput capacity. Flexible ability to manage the demand forecast for future deliveries, along with matching up anticipated timing of receipt volumes allows the operator to timely manage the movement activity within their facility. Full functioning inventory, contract/rate capture, measurement, shipper inventory management and invoicing are all functions within Terminal Scheduling.

Volume Balancing

Balance plant, compressor station, hub or other measurable facility where loss may be an issue at a component level, using inputs and outputs defined specifically for the plant configuration. Operators are able to monitor loss and unaccounted for, for each day’s production, and flag those losses when they are outside of your specified tolerances.

Management is able to estimate recoveries and view projected sales on a daily basis. This completely automated approach to “balancing” gives your operations staff daily reports showing component level balances and comparing current period to previous. This is essential to identifying equipment/measurement issues quickly, which improves the client’s ability to take corrective action in a timely manner. Trend reports provide management with a graphical representation of plant operations and sales

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