Show investors what the estimated costs are for drilling or working over a well
The AFE Module allows you to create a document that shows an investor what the costs are estimated to be for drilling or working over a particular well.
You can then estimate costs for a well in the software and track the estimate against the actual costs as they occur.
set up expense codes
Setup specific AFE expense codes to be tracked on an AFE.
Build your afe
Define your general information about the AFE and begin adding expense categories to build your AFE.
After codes are selected, enter the estimated costs for each expense. The actual costs and variance will automatically be calculated whenever an expense is entered for the well associated with this AFE and the expense is assigned to an AFE category that's been defined for this AFE.
Actual expenses will be picked up no matter what screen they are entered on in the software.
AFE Reports - Shows the total expense estimates for each AFE code for each AFE and can also include actual costs, cost plus percentage and location fees.
AFE Owner Presentation/Cash Call - Shows the total estimated costs for a well and each owner's share to be sent to the owner for them to sign off on the project -- or as a cash call invoice for the owner.
AFE Detail Report - Shows the details of the AFE for the operator.