Well Profits software tracks investments for royalty owners, investors
If you are an investor in oil and gas wells or a royalty owner that receives 8/8ths payments from operators – then you likely need a way to track all those investments and see how well your money is performing.
Throughout the rest of this month, I’ll be sharing a little bit more about how Well Profits works through a brief video demonstration, a podcast interview with the developer on how it was created and maybe even a little statistics from our investors.
First though – let’s see how simple we’ve made tracking your investments.
We’ve outlined it in three steps.
Step 1: Enter receipts
When you receive a check for production from an operator for the interests you have wells in, you’ll enter them into our software line by line, to give you the most detail to track and report on.
Step 2: Enter bills
When you receive an invoice for the expenses the wells you have an interest in have incurred, you’ll enter all the detail that you have on the invoice directly into the software.
Each line of expense will be entered individually, keeping a running total at the bottom of the screen until the entire bill has been added. Using expense codes and expense descriptions you’ll have already created when setting up the software, as well as vendor terms and due dates, entering your data just became a breeze.
Step 3: View Reports
Once all your data you’ve been sent for each well has been entered, you can create robust reports and graphs to see how well they’ve performed. With more than 20 pre-created reports already built into the system and the ability to design your own reports – the sky is the limit on what kind of reports you can run.
Visit our website at wellprofits.sherware.com to see more information on how the software works.
You can request a demo of the software, watch a brief introductory video or download an info packet.
Source: SherWare Blog