FP Property
Written by Brandy Burch
Updated at March 17th, 2025
Table of Contents
Top of the Screen
| Property | Set up a 1 to 10-character code that uniquely identifies the lease. The code can be either letters and/or numbers. After a new property # is entered and validated that it doesn't already exist, you will get a prompt to copy using the Property Utility option. Click on Menu to continue without copying. |
|---|---|
| Legal Property Name | This required field is printed on all reports that have lease information, including checks. |
| Internal Property Name | When using the Internal Property Name, the Master Property Listing will pull in only properties for the Operator listed in the Operator For Run Stmts From field. |
| View Change History | Select this button to display the change log for the property. |
General Tab
Tech Tip: If the Well Type is marked as Oil, the system only allows a 5 digit RRC#. If the Well Type is marked as Gas, The system will only allow a 6-digit RRC#. Additionally, if you have a drilling permit number from the RRC, make sure the Well Type is marked as Pending on the Production tab. There are some special provisions for an RRC# starting with 6 or 7 to always be marked as G (Gas Well Type).
| Property Master – General tab | |
|---|---|
| State | Two character state code. Also used by the Severance Tax Calc System. |
| County | Enter County code from the look up. This will be displayed on the Revenue Payments as well as any listings. Also used by the Severance Tax Calc System for some states. |
| Operator for Run Stmt | Operator code as defined on Company maintenance. (Legal Operator is for reference purposes only) |
| Legal Operator - Gov Rpts. | Used for reference purposes only. This is typically the same as the Operator for Run Stmt, it is rare this will be different. Reasons could include a second purchaser or a managing company. |
| Operator Property # | Operator’s number for the property (Optional) |
| Acquisition | Enter acquisition information to be used for financial reporting (Optional). |
| State Property ID# | This field is used for regulatory reports. Oil is typically 5 digits, Gas is typically 6 digits. |
| State reporting District # | This field is used for regulatory reports. |
| Stripper | Ability to designate a property as a stripper well. Enhanced Colorado DR21-W to support stripper vs non stripper wells. Ability for the severance tax computations to take this switch into consideration when computing the tax. |
| External Property code | Used with various Run Ticket imports (including CODE Run Ticket Import) - this allows you to cross-reference a different Property Number other than yours. |
| Dispatch Region | This is a Sub -Table that is automatically added to Sub-Account maintenance. Adds the ability to summarize certain financial reports (Income Statements & Trend Reports) for your Properties by Well Region group. |
| Category |
To Define the type of Property: Property (Lease) – where the load was picked up at. Station (gathering point) – where the load was offloaded to. Yard – location of Yard used if trucks keep load on truck before offloading or used as a starting point for dispatching. |
| Well Type | Automatically added as a Sub-Table in Sub-Account maintenance. Provides the ability to summarize reports by well type group. Pak Accounting has default types already setup in this Sub-Table. More can be added. |
| Well Status | Automatically added as a Sub-Table in Sub-Account maintenance. Provides the ability to summarize reports by well status group. Pak Accounting has default status' already setup in this Sub-Table. More can be added. |
** For all other field definitions see Revenue/Billing Property Maintenance Help.**
Production Tab
Tech Tip: If the Well Type is marked as Oil, the system only allows a 5 digit RRC#. If the Well Type is marked as Gas, the system will only allow a 6 digit RRC#. Additionally, if you have a drilling permit number from the RRC, make sure the Well Type is marked as Pending. There are some special provisions for an RRC# starting with 6 or 7 to always be marked as G (Gas Well Type).
| Property Maintenance/Production Tab | |
|---|---|
| Well type | Must be defined as either OIL, GAS or Pending (Permit Pending) or Other (skim) to be used on the regulatory reports. NOTE: Condensate from a Gas well should still be marked as Gas. |
| Disposition for Oil Run Tickets | This is the disposition code that will be used to process the run tickets. NOTE: First Purchaser tickets are typically Code 1-Trucked. |
| Disposition for gas sales | This is the disposition code that will be used to process the gas sales (see production documentation). This is OGP only. |
| Injection pressure | This field is not currently being used by First Purchaser. |
| Commingle Permit #/Allocate Tickets | Some states issue permit numbers. Otherwise enter an alpha/numeric code of your choice to open the commingle button in order to allocate values. The Allocate Tickets check box will appear when the Allocation Type is set to Commingle and the Commingle Permit # is entered. Pak Accounting will then create tickets for the allocation based on the commingle setup. NOTE For Commingle Setup: Commingled properties must set up property numbers for mid-level properties with high numbers. Allocated properties must be setup with even higher numbers than the mid-level properties. |
| Commingle Maint | Select to open the commingle facility maintenance in order to allocate values. |
| Allocate Tickets | Select if it is necessary to have the run ticket allocate to multiple actual tickets immediately after ticket is saved to the Commingle property. |
| Print Permit # on state reports? | Check to print the Permit # on the state regulatory reports. |
| Destination Company CODE | Populates based on the operator for the Export to CODE feature. |
| Allocation type |
This field determines what type the well is for allocations and is also used on state regulatory reports.
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| Oil Well # | This field is not currently being used by First Purchaser. (Production Only) |
| Well Status | These statuses are required for some state production reports. The options in this field can not be changed or added to by the user as the state reports will only validate with specific codes. These are built into the software and only added to when required by adding new state reports or state regs change. |
| GL/Check Stub/ Revenue/Billing Property # | Defaults to property Sub-Account number. This field also allows a lease level redirect to pound allocations. |
| Pct paid to company | This field is not currently being used by First Purchaser. |
| Company NRI | This field is not currently being used by First Purchaser. |
| # of Active Wells | Enter number of wells to this property, used with some states severance tax calculations. |
| Default days on per month | This field is not currently being used by First Purchaser. |
| Sulfur Content | Default at time of Run Ticket Entry, if needed. |
| Ticket Import Group | Used for TouchStar, WolfePak Mobile, and Qv21 Run Ticket Imports. Select group defined from Ticket Import Group Maintenance to enable property to be imported. This can be populated by free form or by using the drop down menu. |
| TouchStar ID to Use | Enter TouchStar ID defined on the connection tab of the TouchStar Import Utility. This enables the property to be imported. |
| Gas Well Options | This field is not currently being used by First Purchaser. (Production Only) |
| Well Completion Code | This field is not currently being used by First Purchaser. (Production Only) |
| Warn if Prod not entered daily | This field is not currently being used by First Purchaser. (Production Only) |
| Track Gas lift injection | This field is not currently being used by First Purchaser. (Production Only) |
| Hauling Code | This is used to designate which hauling code charge is to be used for this property when creating hauling statements as defined on the Hauling Code Maintenance. |
| Grade Code | Type of Hazardous materials being transported: Crude Oil and Hydrocarbons. Used by PeopleNet only. |
| Estimated Gravity | This field is manually set by the user and is used by Dispatch and Severance EDI reporting. On Severance Tax Reporting: if gravity is not specified on the ticket, it uses this value for the Property. If still zero, then it uses 40.0 |
| Exempt from State Transporter Reports | First Purchaser – this property does not need to be reported on the state transporter reports |
Note: The Import Set within the List button allows you to import your allocations.
Price Contract Tab
Associate a price contract with each property. Add adjustments as needed.
| Pricing sub-tab | |
|---|---|
| Product |
When using the Calculate Sales Price based on Offload Property your Pricing Product will be OSC (outright sales contract) in addition you will use the Price contract field for the sales price contract not the Sell Contract. When using the Calculate Sales price based on Load Property your Pricing Product will be OIL in addition you will use the Sell Contract # for your sales price contract. |
| Price Contract # | This drop down menu will allow you to select a pre-defined Price Contract |
| Property Adjustment /Bobtail |
Property Adjustment #1 is per barrel $Bobtail only adjusts the price index, not the whole price |
| Property Adjustments should | Add to or replace |
| Volume Penalty / Term Date | Also see: Property Vol Penalty |
| Authorization to Purchase | Similar to the DOI Process - it sends an agreement letter to be signed |
| Sell Contract # | Rarely Used. Being phased out. |
| Mobile Purchaser Options | Also see WolfePak Mobile. |
| Additional sub-tabs | |
| Offload Adj | Gives the ability to adjust the price on a lease based on the offload station |
| Volume Adj | If box "Has Volume Penalty" is checked, this tab will be available to enter in adjustments. |
| Sales Reporting | Will only be visible if using the Sales feature. |
| Inventory Reporting | Will only be visible if using the Inventory feature. |
DOI Tab
See setup in Revenue/Billing Documentation. You can click on the Edit DOI to edit without having to switch modules.
Run Ticket Tab
This tab will display the last ten run tickets with the ticket date ticket number, and corrected volume in ascending order.
Other Tab
Enter the Field reference and API#, if needed, associated with this property. Note: Fields are set up under Field/Pool in Master File Maintenance. Identify Location Class, if applicable. Multiple field/pool codes can be added in order to allocate production to a specific field if required by the state.
Company Options Tab
Must have "Run Tkt?" checked in order to enter a run ticket data for daily tank gauges on this property. Check print on State reports to allow Printing.Run ticket errors will now be displayed in the last column on this tab. The Default Deck can be ignored if the "Always use Blank Deck (Ignore Default Property Deck)" option is checked on the Company Maintenance > First Purchaser tab. The Property Error Message column on this screen is a manually populated field.
Purchasers Tab
Used for the Kentucky Property Tax Report in First Purchaser and the Montana Production Report for the Buyer and Transporter report in OGP.
Use the drop-down menu to select your State Report Purchaser.
The Deck information populates from information setup in Check Stub > Master File Maintenance > Division Order tab.
Notes Tab
Enter any dated notes related to the property (Optional).
TECH TIP! Right-click on the note to change the date/time or to assign to another property.
Also see setup in Revenue/Billing Documentation.
Mileage Tab
If tracking mileage for commissions, enter mileage from property to storage facility. Dispatch Stations: Populate stations to be used when dispatch scheduling.
NOTES:
- "Import from Excel" found under the Utilities button has the ability to import the External Property Number by clicking on the External XREF option under Import Type.If the Import type is set to Lease, there are many optional columns that can be imported to include the County, Lease Operator, and Operator Lease.
- TMW Cross Reference entries can be cleared on the Cross Reference tab.
- If ERP is pushing to mobile it will not overwrite mobile. If both places are set the mobile price is honored.
Utilities
- Import Utility – This utility allows mass import/copy properties from one company to another.
- Mass Change—This utility allows you to mass change the property master. Select the property range to be affected by the change. Change the option in the “From:” field to the option defined in the “To:” field. This utility also allows you to change the Operator, Legal Operator, and Station fields.
- Import from Excel - This import will import Properties. The 5 Import Types are Lease, External XREF, Mileage, Sev Tax, and Price Contract. There is also the option to decide whether to add to the property maintenance or change an existing record. Once selecting the Import Type and Add/Chg, the required and optional fields will be listed below. The first row of your import must contain column headings that match the fields provided. Pak Accounting will provide import information for your convenience regarding the number of changes made. This import will validate the same way a manual add of a Property will validate. Therefore, if the field being imported requires default data and nothing is defined for that field on the import, an error will occur for the import.
- District Verification Utility – Validates that the state reports the district on the property based on the state and county. The List option will show you the current district and suggest the district the system thinks the property should be set to. The Fix Invalid Districts option will update the current district according to what Pak Accounting recommends.
- Populate Primary Offloads – Assign the primary station based on the offload of the most recent Run Ticket for each lease.