Ohio OOGEEP

The Ohio Oil and Gas Energy Education Program (OOGEEP) is a non-profit educational program voluntarily funded by Ohio's Oil and Gas Industry and Royalty Owners.

How to set up and enter the OOGEEP:

Division of Interest - Royalty owners will need to be charged this expense so you cannot use the working interest percentage to allocate the expense. You can copy the division of interest from the oil or gas class to Expense Class 1 (or any of the expense classes that are currently not used). You can easily do this in one step for each well with the Copy DOI utility.

Expense Code - Create a new expense code named OOGEEP. Change the default "DOI Class" to be the class that you set up with the interest each owner should be charged for this expense.

Entry - Since the purchaser is withholding this expense it will be deducted from the check that you recieve from the purchaser. You will enter this expense on the Production Receipts screen as a deduction when you enter the check from the purchaser. If you do not enter the the check on the production receipts screen, then you will have to use the Well Expenses by Well (8/8ths) or Enter Bills screen.

First Purchasers:

If you are the first purchaser you can have SherWare calculate the OOGEEP amount automatically by setting up a tax table. You can use Tax Calculation 4 (or any unused tax calculation) to enter these. Make sure that you have a division of interest set up for the tax calculation that you use. Change the name to be "OOGEEP - Oil" and "OOGEEP - Gas" or something similiar. Mark it to calculate as an amount. This will then automatically calculate and charge the OOGEEP to the respective parties.