Production & Revenue Accounting System for Producers

The Vertex Production and Revenue Accounting System is a comprehensive suite used to manage the flow of petroleum products from wellhead through gathering and refining processes to disposition and contract or spot sale. Highlights and key features include:

• Comprehensive modules to guide you step by step, from field input through to revenue and royalty accounting transactions
• Single integrated process; no external worksheets
• Generic interfaces to import and validate production volumes and Analysis data
• Facility models are tailored to the field configuration and specific operating agreements
• Seven product allocation methods at the component level
• Fuel allocations: both in-stream and out-of-stream handling; based on all or selected components; applied to all or selected streams
• Product streaming by owner provides for all or a portion of an owner’s gas to be directed to a specific facility or other destination
• Special contract types direct owner/streams to injection or storage facilities
• Sales contracts are managed efficiently at the producer- group level
• Plants can balance deliveries to multiple meter stations (e.g. Nova and Alliance)
• Liquids inventories are managed by owner by component
• Petroleum Registry and pipeline splits are previewed and verified prior to submission    
• Royalty formula builder and deduction tables allow for precise calculation of government and freehold royalties. Global update tools are included to efficiently handle changes in ownership
• Special-purpose tools to manage process amendments with ease
• Interfaces are available to deal with other central-source systems
• Revenue processing mirrors the standard industry invoicing practise to achieve efficiency and improve internal control
• Financial accounting transactions are created and available for import by any financial system 
• Quality Assurance analysis and reporting tools result in fewer amendments, and a more satisfying and rewarding role for staff