Division Order & Disbursements (DO&D) - Software Solution

Software to manage all division order information and 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 (DO&D)

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 (DO&D)?

 

• 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 (DO&D) 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 (DO&D) software solution.