SSI Oil and Gas Accounting Software has a neat trick for entering and accounting for liquids.
Liquids, NGL, Plant Products, Condensate. All byproducts of gas production. The standard for measurement of liquids production is in gallons, and generally speaking, purchasers/operators account for and pay liquids based on gallons. But not always. There’s the occasional operator or purchaser that account for the liquids in barrels. If, when entering the liquids, you don’t catch the fact that the liquids are being captured as barrels, the price per unit of liquids production will get blown out to be some cray‐cray dollar amount. And there's no standardization from purchaser to purchaser on how liquid volumes are presented.
In the past, for those purchasers/operators who provide liquids revenue in barrels, before entering the revenue receipts it took a bunch of off‐line calculating and gazintas to get the barrels converted to gallons. Phooey on that! SSI knows that we don’t like to manually calculate anything! We are not Jethro Bodine from the Beverly Hillbillies doing our gazintas!
SSI has the answer for making Liquids entry easier for you! No calculator needed.
So how does one manage when some purchasers pay in gallons and others in barrels? Simple, let SSI do the work to convert barrels to gallons. We have added an option in the RP01/WM04 ‐ Purchaser Maintenance ‐ Enter Liquid Barrels, Convert to Gallons. The important part? It's selective by purchaser and it’s so EZ to do! Set the flag for only those purchasers providing liquids volumes in barrels.
That’s all it takes. When revenue is entered into RP03 or imported from RP03I template, don’t over‐think. Just take what the purchaser gives – barrels or gallons. For the purchasers flagged as such in RP01 – Purchaser Maintenance, the barrels will auto‐convert to gallons. No more problems comparing Liquids Sales Volumes, pricing per unit on liquids, etc. from various purchasers.
Reminder ‐ it takes 42 gallons of liquids to make a barrel. If you enter 1 barrel in RP03/RP03I it will convert to 42 gallons. Since 42 gallons always has and always will equal one barrel…we’ve hard‐coded in the conversion process so it will just know and you won’t have to do anything except enter your production just the way it’s given. No thinking necessary! Well…maybe some thinking but no thinking on calculating a liquids conversion from barrels to gallons.
There’s no getting around it, revenue entry can be tedious and time‐consuming. But SSI is always working on ways to make it EZier for YOU to get the job done quickly and efficiently.
And this is just one more way SSI makes your job EZier!
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