Quorum Business Solutions Inc

Software solutions & services to manage oil & gas, renewable energy and natural resource operation and commercial business processes

Since 1998, Quorum has demonstrated a track record of successfully deploying efficient, cost effective solutions that help companies meet performance goals.

Quorum Division Order & Disbursements (QDOD)™ - Software Solution

Software to manage all division order information and distribution of revenues to operators and interest owners 

Quorum Division Order & Disbursements (QDOD)™ is a software solution for management of all division order information as well as an integrated disbursements module to manage distribution of revenues to operators and interest owners.
 
  • Serves as a central repository to consolidate all division order information and accompanying legal documents into one application
  • Manages a wide range of transactions including ownership transfers, suspense maintenance, write-offs, manual adjustments and check voids
  • Facilitates distribution of revenues obtained from oil and / or gas production or other mineral deposits from operators to various interest owners
  • Handles all unclaimed property needs including state reporting requirements and interface to the HRS system
  • Detailed transaction tracking and audit history supports SOX compliance

Quorum Division Order & Disbursements (QDOD)

       
       
 
 

Input Data


  • Interest owner agreement data
  • Division order title opinions
  • Meter / contractual level volume & value data
 

Information Managed


  • Division of interest (revenue, joint interest billing, etc.)
  • Minimum & legal suspense
  • Company payment & banking rules
  • Plant payment cycles
  • Division order level charges
  • Manual adjustments
  • GL / AP setup data (escheat, escrow)
  • Oklahoma forced pooling
  • Federal / state withholding rates
  • Scanned documents
 

Processes


  • Distribution
  • Check write
  • GL / AP processing
  • Transfer of ownership & funds
  • Suspend / release of ownership & funds
  • Balance write-off
  • Void checks
  • Manual check
  • Legal document generation (division of interest, transfer, etc.)
  • Unclaimed property management (escheat / escrow)
  • Oklahoma forced pooling
Deliverables
  • Payment detail
  • Legal documents
  • Alerts & notifications
  • Pre-configured reports
 

Output Data


  • Check / ACH /
    wire files
  • GL / AP entries
  • 1099
  • 1042S
  • Withholding reports
  • CDEX
  • Positive pay


Why Quorum Division Order & Disbursements (QDOD)?

  • Confidence in being able to access a single, accurate, standardized repository for all division order information across the enterprise
  • Instant secured access to division order information by all authorized personnel across the enterprise
  • Automatically generate documents 
  • Automated mass mailings
  • User-defined configurability - unlimited categorization and grouping
  • Easily maintain burden relationships
  • Facilitate transfers of interest (deeds, assignments, conveyances, trusts, probate documents, etc.) to reflect changes in ownership
  • Management of suspense and unclaimed property
  • Wide variety of pre-configured reports and ad-hoc query tools to allow real-time access to system data
  • Support for energy industry-specific attributes and functions - no customization
  • Integrity of design ensures control compliance and support for audit
  • Support for integration into other relevant systems including general ledger (GL)
  • A component of Quorum's enterprise wide energy software solution portfolio- can be deployed stand-alone or integrated with other enterprise solutions


Quorum Division Order & Disbursements (QDOD) is used by various industry participants (large and small) in several sectors across the oil and gas, renewable energy and natural resource value chain. 

Division order and disbursements is a key function of the Joint Venture / Owner Accounting business process. Quorum provides other software solutions to support this and other related business processes.

Contact Quorum Business Solutions
to learn more about the Quorum Division Order & Disbursements (QDOD) software solution.