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Upstream Products Suite

Upstream Products Our Upstream Solutions Suite offers producers complete functionality for revenue accounting, financial accruals and forecasting.  We also offer complete upstream division order management for the largest of E&P companies.

Use our suite to forecast volumes and revenue from your gas entering a processing plant. Create accurate monthly accruals quickly and easily.

Let our systems compare your accrual to the processor’s actual data and point out where differences occur. Find mistakes you made, or more importantly, mistakes they made.

Our suite of Upstream Solutions include:

Revenue Accounting

Detailed Revenue accounting handles the 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.

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 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.

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.

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.