Well Group Definitions

The Group determines what wells processes on each Revenue Run Closing and each JIB Run Closing. When you complete one of these closings you will have to choose the group that the closing should be done for. It will then close all wells associated within the selected group.

Every well will must be associated with a Group on the 'Well Info" tab of the Owner Information window. Every well will automatically be associated with the "Default" group when it is created. If you desire for the well to be in a different group then you can change this as you initially setup the well.

A group can be created for wells based on the State, County, Project, Time period purchased/drilled, or whatever other reason you can come up with. It is up to you to determine if you want to use multiple groups and what the criteria for each group should be.

If you do not have or can't think of a good reason to create multiple groups then we strongly suggest keeping all of your wells in the Default group. Having multiple groups will increase the amount of work you have to do. Do not create multiple groups just because you can. If you do have a good reason to use multiple groups then the extra work is worth it because they will help you process the information in a way that you need.

A few Advantages/Disadvantages of using multiple Groups:
- Processing groups of wells at different times of the month. Since the run closing is done by group you can close each group on different dates without affecting the wells in the other group. For example you could close all wells in TX on the 15th and all wells in OK on the 23rd. If you do not need to process wells at different times then it is easier to just use the default group so that you only need to do one run closing instead of multiple.
- Multiple Checks. Since the Royalty checks, distribution checks, and statements are created when the run is closed an owner will receive a separate check/statement for each group that they have an interest in. If an owner has an interest in 5 groups, they will receive 5 separate checks. This is a benefit if you want that to happen, but can be a big disadvantage if you want the owner to only receive one check for all wells that they have an interest in. If you want an owner to only receive one check/statement each month then you can leave all wells associated with the Default Group.
- Netting Deficits within the Group. Within each group you have the option to net deficits between wells. If you do want to net the deficits between certain wells but not for other wells then you can have a group of wells that share one overall balance, and a second group of wells that hold an individual balance for each well. Setting up multiple groups will allow you to do this.
- Report Viewing. Many of the reports within the software are viewed based on the run number. If you have multiple groups then you may have to view the report several times to see all of the information instead of being able to view it once if it was all in one group.

Group Code
Enter the two digit alpha-numeric code to define this well group.

Group Name
Enter a description for this group. The description can be up to 30 characters.

Net Deficits within this group
This option will let an owner's deficit from one well net with his income from another well within this group. Leave this option unchecked if you want each well's deficits to stand on it's own.