Quorum TIPS® Gas Plant Accounting - Software Solution
Software to manage natural gas processing plant contracts, allocations and accounting
Midstream Business / Physical Configuration
Recommended Quorum Solution Set
Gas processing plant (stand alone)
|Quorum TIPS Gas Plant Accounting|
|Multiple gas processing plant combinations||Quorum TIPS Gas Plant Accounting|
|Gas gathering system (private1)||Quorum TIPS Gas Plant Accounting|
|Multiple gas gathering system combinations (private1)||Quorum TIPS Gas Plant Accounting|
|Integrated gas processing plant / gas gathering system (private1) facilities||Quorum TIPS Gas Plant Accounting|
|Multiple gas processing plant / gas gathering system (private1) combinations||Quorum TIPS Gas Plant Accounting|
|Gas gathering system (open access2)||Quorum Gathering Management|
|Multiple gas gathering system combinations (open access2)||Quorum Gathering Management|
|Integrated gas processing plant / gas gathering system (open access2) facilities||Quorum TIPS Gas Plant Accounting & Quorum Gathering Management|
|Multiple gas processing plant / gas gathering system (open access2) combinations||Quorum TIPS Gas Plant Accounting & Quorum Gathering Management|
Quorum TIPS is a comprehensive software solution with primary functions addressing contracts, scheduling, allocations, volume management, gas settlement and invoicing, and accounting.
- Manages a wide range of transactions related to gas plant facilities including, transportation, processing, storage, and marketing
- Conducts variety of gas balancing processes - plant, system, lost and unaccounted for, gain / loss, etc.
- Accommodates thousands of unique allocation and contractual variations (e.g. take in kind, percent of proceeds, keep whole, wellhead purchase, fee services (metering, gathering transportation), etc.).
- In addition to the core gas plant accounting functions above, optional modules are available for expanded capability, including:
- Division Order and Disbursements functions to manage all division order information and distribution of revenues to operators and interest owners. To access these functions, Quorum TIPS is deployed together with the Quorum Division Order & Disbursements (DO&D) software solution
- Imbalance Management and Accounting to track imbalances at the plant tailgate, comparing entitlements vs. actual sales
- Quorum Forecasting allows the prediction of current and future production month processing results to assist with both short-term and long-term forecasting. To access these functions, clients leverage the Quorum TIPS Forecasting software solution
- Regulatory Reporting function including automated generation of most pre-configured report formats required for federal and producing states
Quorum TIPS Gas Plant Accounting
Why Quorum TIPS Gas Plant Accounting?
80% of total U.S. gas processing plant output is settled with Quorum TIPS
- Proven capability demonstrated at over 200 gas processing facilities, from small to large, over 14+ years
- Wide applicability - in use to manage most of the industry's facilities, from the largest and most complex to small and straightforward
- Integrity of design ensures control compliance (e.g. SOX) and support for audit
- Support for variety of pre-configured and ad-hoc reports, as well as business intelligence
- 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 TIPS Gas Plant Accounting is used by various oil and gas industry participants (large and small) in several sectors across the oil and gas, renewable energy and natural resource value chain.
Gas plant accounting is a key function of the Transaction Systems 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 TIPS Gas Plant Accounting software solution.