Revenue distribution
Turn buyer statements into owner payments.
Revenue distribution: paying each owner their share of the money from oil and gas sales. We start from your purchaser statements and end with each owner's payment.
20 clients and hundreds of wells operated
What you get
What lands on your desk.
- Purchaser statements entered Oil and gas buyer statements entered, well by well.
- Sales split by ownership Each owner's share worked out from the ownership records.
- Taxes and deductions counted Taken out before each owner's payment is figured.
- Owner payments ready Each owner's net payment worked out. You review and approve every payment before it goes out.
- Revenue statements A statement for each owner that shows how the payment was figured.
October owner payments, ready for your OK
Purchaser statements for October are entered, well by well.
Each owner's payment is figured after taxes and deductions.
Reply OK and the payments and revenue statements go out.
How it works
Three steps.
Give us access to your books.
We are WolfePak proficient and can help you convert from QuickBooks or any other accounting software.
Send bills and statements as they come.
Forward vendor bills and buyer check stubs to your RedBird address. Or reply to our text with a photo or a file.
You approve. We close the month.
You approve every payment before it goes out, unless your agreement says otherwise. We close the books, and you get the Monthly Compliance and Close Report.
Compare
The old way vs RedBird.
The old way: Buyer statements keyed in by hand, late.
With RedBird: Purchaser statements entered, well by well.
The old way: Owner shares worked out on a calculator.
With RedBird: Each owner's share figured from the ownership records, after taxes and deductions.
The old way: Owners call to ask how they were paid.
With RedBird: A revenue statement for each owner that shows the math.
The terms, in plain English.
- Purchaser statement
- The statement your oil or gas buyer sends with each payment.
- Revenue distribution
- Paying each owner their share of the money from oil and gas sales.
- Deductions
- Taxes and other costs taken out before an owner is paid.
- Revenue statement
- The statement each owner gets that shows how their payment was figured.
Questions.
How do you know each owner's share?
We use the ownership records for each well. Each owner's share of sales comes from their net revenue interest (NRI), the share of sales they get paid on.
Who sees the numbers before owners are paid?
You do. You review and approve every payment before it goes out.
Get started
Get your back office off your desk.
Tell us what you need. We look up the public record the state keeps on your operator number. Then we reply to set up a call.
20 clients and hundreds of wells operated