or call us at (713) 430-8601Over the past 11 years, Quorum has demonstrated a track record of successfully deploying efficient, cost effective solutions that help companies meet performance goals.
Mineral / Land / Royalty Owner - industry sector
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Mineral / Land / Royalty Owner Processes and Systems
Given the significant revenue involved, conscientious participants utilize processes and systems to validate royalty payments received from operators. Key elements include:
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Capital budget management with financial controls, including approval process (AFE) and allocate approved funds to projects
- Accounting for production
- Accounting for revenue from production including distribution
- Financial accounting (GL, AP, AR); fixed asset and depreciation accounting (DD&A); inventory management
- Tracking, maintenance, allocation and accounting for joint venture (JIB) and owner interest, including division order (DO)
- Marketing of natural gas and natural gas liquids (NGL) produced for royalty in kind (RIK) arrangements
- Reporting and business intelligence, executive dashboard, regulatory reports, lease operating statements (LOS), payouts, etc.
Mineral / Land / Royalty Owner Software Solutions
Quorum has experience in the Mineral / Land / Royalty Owner sector in design, implementation and support of configurable, sustainable, scalable information technology solutions to manage business activities efficiently and cost effectively. In addition to consulting services, we provide a full range of software solutions specific to the Mineral / Land / Royalty Owner sector, including:
