AFE Management

The AFE (Authorization for Expenditure) processing is an optional module. Your software will not have the ability to create AFEs unless you have purchased this module. If you did not purchase it then you may not be able to see this tab in the preferences. Contact SherWare Support if you are interested in adding this capability.

Cost Plus Pct
Enter a percentage that should be "tacked" onto the AFE costs as a Cost Plus charge. The system will multiply the total AFE charge for an owner by this decimal percentage and add it to the owner's AFE "invoice" as it appears on the AFE Owner Presentation report. When this is used it is generally used to be a safeguard against cost overruns. 1% should be entered in as .01

Location Fee
Enter a dollar amount for a location fee if one is charged on AFEs. This amount will be added to the total AFE charge before the owner's share is calculated.

Allocate Expenses to Owners on JIBs
If marked, any AFE Expenses will be allocated to owners on JIB Statements, or Owner Distribution Statements as they are received. If this option is unchecked, any AFE expense that are entered will not be included on a run closing, and therefore not billed to any owner within the well by way of a run closing.

If this option is unmarked, you will not be able to select AFE expenses from the Type pulldown menu within the Production Receipts window.