EnergyCONNECT:
Joint Venture Accounting Software

EnergyCONNECT Joint Venture Accounting Software

EnergyCONNECT facilitates accounting and communication for Exploration and Production companies to help manage the complexities of a high-risk business environment, difficult scope expenditures, high investment costs, and long lifecycle cost-to-benefit and return on investments with assets and reserves.

Integrating project management, budgets and costs with your corporate financials from initial drilling through to production allows upstream and midstream companies to effectively invoice and pay partners, manage cost centers, control expenditures and drive efficient business processes.

Our revenue accounting module is the only oil and gas revenue distribution module that works seamlessly with Microsoft Dynamics 365. From cash receipts to final settlement, this scalable solution manages the revenue distribution process for upstream companies, including cash receipts, division of interests and owners’ interest. It helps report revenue for various properties, record the ownership for the various products and deductions associated to the cost center and record the owner’s interest at a detail to support disbursements and required reporting.

By handling the JIB, DOI, AFE, Revenue Accounting and improved automation of core applications such as Enterprise Asset Management, Procurement and land systems, EnergyCONNECT Joint Venture Accounting can better manage the various stages of operation. Our Joint Venture Accounting solution assists in developing flexible, date-effective divisions of interest and supports account-based exceptions for joint venture transactions.