Many parties, one solution

Joint ownership makes oil and gas one of the most complex industries to account for. Ownership becomes even more complex as the wells age. Add to that the fact that owners do not always share revenue deductions equally, and you have an administrative challenge. In this critical area, BOLO delivers the solution once again.

Ensuring accuracy and ease-of-use

Ensuring all transactions are calculated properly and that you can pull accurate, meaningful ownership data from the system is vital to your business. BOLO Division of Interest allows you to track and automatically change ownership. The system eliminates the need for multiple ownership decks for each property by offering owner-level effective-dated decks. This streamlines business processes and ensures the entire company is using the correct ownership information, helping you manage your business better.

BOLO enables you to:

Record the Business

• Create one deck that manages all ownership changes and marketing arrangements
• Easily manage mass ownership and mass pay code changes
• Create Revenue Division of Interests as burden-based or NRI to manage take-in-kind and payout situations involving disproportionate royalty burdens
• Automatically manage MMS royalty-in-kind and Oklahoma Senate Bill 168 information

Manage the Business

• Eliminate the need to calculate or maintain ownership data in spreadsheets
• Simplify distribution for split streams by automatically evaluating contract participation to derive distribution requirements
• Prove internal controls with a clear audit trail of chain of title for all ownership changes
• Establish audit controls for creating and changing division of interest information
• Automate the task of preparing Division Order and Transfer Orders