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This will launch the DOI Details report in a new Qbyte Optix window.
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DOI Deck Examples
Operated
Example of a DOI deck setup for an OPERATED property:
There is an agreement in place where Qbyte Exploration INC is the Operator who collects and distributes all revenue and expenses to two other partners in the property.
The DOI would be set up as follows:
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Non Operated
Example of a DOI deck setup for a NON-OPERATED property:
There is an agreement in place where Clarke Energy Trust is NOT the Operator and there are 2 other partners in the property. Brubeck Oil and Gas is the operator with a 40% working interest.
The DOI would be set up as follows:
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When Revenue or Expenses are coded to this DOI, the costs will book 100% of Clarke's 25% share, and calculate a Gross Up Amount to 100% for Reporting purposes.
Silent Partner
Example of a DOI deck setup for a SILENT PARTNER:
There is an agreement in place where Qbyte Exploration INC is the OPERATOR and there are 2 other partners in the DOI. Speargrass is a SILENT PARTNER with a 37.5% working interest. Boundary is the AGENT for Speargrass. It appears that Speargrass has a 50% interest, but Speargrass receives 50% of Boundary Creek's 75% (50 X 75% = 37.50%), leaving Boundary with 37.50%.
The DOI would be set up as follows:
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Accountable Partner: A partner who receives a percentage of the gross transaction passed to your company. This percentage is based on the partner’s ownership percentage. Qbyte Financial calculates the amount owing to the accountable partners based on this formula:
Gross amount * (partner % / sum of all accountable partners%)
Non-Accountable Partner: A partner that is non-accountable will receive no revenue. This is usually a partner who keeps their revenue portion before it’s sent to your company as a gross transaction (e.g. a non-operated situation).
Silent Partner: A silent partner is a partner that is known to your company only. You may or may not be responsible for distributing revenue to this partner based on their ownership percentage. Qbyte Financial calculates the amount owing to the silent partners based on this formula:
Gross amount * (partner % / agent partners%) * silent partners %
Take in Kind Partner: A partner who receives no revenue. This partner takes their revenue percentage as product from the well.
The Joint Interest Billing Process will only distribute the amounts coded to the gross accounts to the partners that are flagged as accountable. The percentages assigned to the partners that are flagged as Non Accountable are used to estimate the true gross for non operated properties.