Our software is used worldwide to ensure employee safety, maintain regulatory compliance and reduce risk across the industry, from field operations and process safety to contractor site inspections and downstream. When your books are in good hands, you can focus on the field. Find and compare the top oil and gas software on capterra. National association of royalty owners finding information. We customize our process to streamline your business and reduce costs. Avatar systems delivers the cuttingedge oil and gas accounting applications. Texas congressmen ask interior to cut gulf oil, gas. Oil and gas royalties are also the cash value paid by a lessee to a lessor or to one who has acquired. Click below to find out how enertia can meet your unique needs. Oil and gas audit royalty owner check detail audit solution. Try shaletrak oil and gas royalty management software today. Our approach is simple, we make sure your business gets the job done.
For many investors, the most valuable deduction is the depletion deduction. If you are looking for software that is effective, efficient, concise, and powerful well profits is the program for your company, regardless of the number or kind of. Basic tax reporting of oil and gasrelated activities tax. The most common types of oil and gas interests are royalty interest and working interest. It pulls together information from many public sources into a single interface. From truck tickets to 1099s we provide the back office support which allows operators and purchasers to focus on their core business. However, because of outdated energy policy and mismanagement of royalty collection, oil and gas companies often pay little to no royalties to the owners of the resources u. The program uses all properties in the set to calculate income for the respective form or schedule. I was led to this forum by an internet search for software for entry and accounting for oil and gas royalty and mineral payments. Robust, sophisticated software for oil, gas and mineral lease management. Oil and gas royalty management from the wellhead to the return ryans royalty professionals provide a unique, fullservice approach to oil and gas royalty management, leveraging years of experience and industry knowledge. Enhanced reporting options and year end 1099 audits.
Entering oil and gas information tax pro community. Collect and report on oilfield tickets in less than a minute. Oct 05, 2019 royalties from oil and gas trust it is best if you include the information in your return. Software for tracking oil and gas royalties accounting and taxes. Experience the noble difference in 1997, scott noble brought a fresh approach to helping owners achieve their financial goals by offering real market value for those looking to sell all or part of their minerals, royalty. Drive higher profitability, move faster, and lower risks with the only 360 mineral management of technology and services. Compare products like p2 bolo, traxview, iwell, and more. Securely track your oil and natural gas royalty income includes support for. Using a familiar spreadsheettype grid, or import via supported. Terms like severance tax, btu factor, decimal interest, api number etc. Oil and gas accounting software focuses on tracking energy projects and partnerships, including the acquisition and development of land leases for natural resources.
We monitor delay rentals and shutin gas royalty payments. In many jurisdictions in north america, oil and gas royalty interests are considered real property under the naics classification code and qualify for a 1031 likekind exchange. Free, lowcost, and open access data and software for petroleum exploration and production susan s. Basic tax reporting of oil and gasrelated activities. Shaletrak online oil and gas royalty management software. Mineralfile facilitates royalty income and production information tracking by well. Alliant royalties is proven across industries to address these issues, and it is the leading solution for the comprehensive automation of royalties management and accounting. A royalty unit gives the unit holder a stake in the income generated by the holdings of the trust. Digital file storage easily store all of those important mineral and.
At peloton, were well focused on bringing small, midsize, and large oil and gas operators the worlds best well data and drilling softwareequipping your business with the tools and information necessary. A mineral management software that offers a database which is user friendly and generates oil and gas reports from a variety of customized formats that are pleasing to mineral property managers and impress clients and accountants. Shaletrak specializes in customized data management solutions. Oildex provides cloudbased financial automation and oil and gas accounting software solutions, and owner relations solutions for the oil and gas industry.
Quickly browse through hundreds of options and narrow down your top choices with our free, interactive tool. The new standard for oil and gas accounting professionals. Each month royalty owners across the nation receive oil and gas royalty statements sometimes they are unfamiliar and a little confusing. Oil and gas royalties refer to funds received from the production of oil or gas, free of costs, except taxes. Shaletrak is a full service royalty and mineral management group offering customized solutions to mineral and royalty owners. Any resulting income would then be considered earned income, subject to selfemployment tax and qualified business income deduction. Deal terms are growing increasingly more complex and the associated financial terms are getting harder to manage. Optimising royalty calculation processes and managing the associated compliance. Reviews on mac, windows, ios, android, and webbased systems. Our primary focus revolves around the acquisition of working, mineral and royalty interests in proven areas in the midland and.
Easily manage your monthly royalty payments simply login, enter your check stub data each month and use shaletraks specialized. A set can be one oil and gas property or a group of oil and gas properties. As a general rule of thumb, you can expect to sell oil and gas royalties for 4 years to 6 years times your average check. Oildex and mineralsoft create gamechanging solution mineralsoft.
Royalty calculator use this oil and gas royalty calculator to determine your oil and natural gas interest. Improve profitability and lower your risk profile with our intuitive dashboard and cuttingedge analytics. Our main concern was that the software produce ownership reports that even nonindustry royalty and working owners could understand. The true value wont be known until you actually sell oil and gas royalties. Avatar systems develops oil and gas software and solutions for. Our primary focus revolves around the acquisition of working, mineral and royalty interests in proven areas in the midland and delaware basins of west texas. Halsell actively acquires mineral, royalty, and overriding royalty interests in proven areas in the permian basin of west texas. Our team of financial professionals works in partnership with mineral owners and holders of oil and gas royalties, helping them understand the dynamic energy market and the various aspects of mineral resource management. The royalty interest entitles the taxpayer to receive a royalty from any oil and gas production.
Apr, 2020 oil and gasrelated activities must be reported for both federal and state income tax. Securely track your oil and natural gas royalty income. All data is instantly saved to your quickbooks with the click of save in real time. Our software is used worldwide to ensure employee safety, maintain. The irs allows you to deduct any expenses that you incur in owning your royalty. Royalty taxes there are county taxes, state taxes, and federal taxes, all of which. We audit division orders and payment stubs for accuracy. When you use the royalty calculator keep in mind its only an estimate.
Royalty calculator use this oil and gas royalty calculator to. Oil and gasrelated activities must be reported for both federal and state income tax. Free royalty calculator calculate oil and gas royalties. You can tie multiple sets to the same form or schedule.
Free, lowcost, and open access data and software for. Crude oil dispatching system with an incab crude hauling application that was custom built by software experts in the oil and gas industry. Its not the oil and gas software alone that makes your backoffice effective and efficient, its the people who know how to make oil and gas software work properly. You gain the time to work on maximizing the potential of your mineral, oil and gas royalty investments instead of grinding through paper work. Filter by popular features, pricing options, number of users and more. The integra energy management system is a oil and gas accounting software for managing working and royalty interest ownership, drilling operations. Do i need to pay capital gains tax for that and where do i report it. Oil and gas royalty statements understand statement deductions.
It can also track the status of leases and share it throughout a company while automatically posting land payments to the general ledger. Intelex provides software solutions that enable oil and gas companies to meet their health, safety, environmental and quality goals. If you lease your mineral rights, your contract with the drilling company will undoubtedly contain a royalty clause in which you are promised a certain percentage of the revenue from. Compass royalty management handles mineral estates of all sizes, but every estate is different. Easytouse, webbased oil and gas royalty management software. Manage your oil and natural gas minerals and royalties using a web browser. The integra royalty owner solution provides oil and gas royalty owners and investors with an integrated suite of software components to manage the. Qbyte metrix is the complete solution for production, revenue, royalty, and regulatory reporting requirements for canadian oil and gas producers. Oil and gas companies that drill offshore or on public lands are required to pay for the oil and gas they remove in the form of royalties.
Solutions for oil and gas quality management software. Drillinginfo, the leading energy saas and data analytics company, announced today it has acquired mineralsoft, a software platform designed to. Oil and gas accounting software avatar systems, inc. One of the most comprehensive royalty industry resources is. Shaletrak provides affordable, webbased software dedicated to royalty and mineral owners. Pops royalty manager is a modern lease and royalty tracking software system focused on easing the burden of paper work, reducing your time spent with run statements and document management. Frustrated that the oil and gas industry was slow to move into the 21st century, we built a platform that made sense to use, automated the monthly process and was forgiving.
The latest oil and gas news, dedicated to all things oil and gas. This attractive royalty rate is intended to encourage oil and gas exploration in the remote canadian frontier lands where costs and risks are higher than other locations. You can also use the sa link to make special allocations for partners in this location. A mineral management software that offers a database which is user friendly and generates oil and gas reports from a variety of customized formats that are pleasing to mineral property managers and. Our team of financial professionals works in partnership with mineral owners and holders of oil and gas royalties, helping them understand the. Shaletrak specializes in customized data management solutions, geographic information systems g. Oil and gas audit royalty owner check detail audit. Moreover, the royalty interest participates in the production revenue. Oil and gas royalties law and legal definition uslegal, inc. Free royalty calculator calculate oil and gas royalties value. Its not the oil and gas software alone that makes your backoffice effective and efficient, its the people who know. Mineral management software for mineral royalty owners and. Affordable option to have your royalty revenue audited on a monthly basis.
Oil and gas accounting software accounting, land, production. If you are looking for software that is effective, efficient, concise, and powerful well profits is the program for your company, regardless of the number or kind of oil and gas investments. Nash, phdaapg director of education and professional development, tulsa, ok bryan flynngeophysicisthgs continuing education committee, houston thom tucker, cpghgs continuing education committee, houston imagine a geologist, an engineer, and a landman sitting at their local. Shaletrak online uses modern software platforms along with encryption in order to ensure your information remains secure. Covers topics like mineral rights fragmentation and estate cleanup. Download all photos and use them even for commercial projects.