What are Accounting Diagrams?
Accounting diagrams are the foundation for your organization’s success. Allowing the field to communicate critical details to the head office.
Accounting diagrams or measurement schematics show how product flows through your properties. They give you an understanding of what you own and where it is. They form the basis of good, accurate measurement – making sure your company doesn’t leave any cash on the table.
An Accounting Diagram should answer the following:
What product is delivered where for processing and allocation?
Where do liquids drop out along the way? Do we recombine anywhere?
Where are the measurement points and what type of equipment is used?
Does Flare, Fuel, or Vent take place at the well or at the facility and is it before or after measurement?
In other words – accounting diagrams help keep your whole company organized. So, everyone from the field operator changing the orifice plate on the meter, to the service provider performing the meter prove, to the production accountant working through the allocation, to the engineer designing new sites, can focus on ensuring the company produces the most product, at the lowest cost.
Accounting diagrams form the cornerstone of data management. When combined with good Standard Operating Procedures and processes your company can:
Streamline audits – know what you own and where it is
Reduce accounting errors – let the accountants know when a new well has been tied in or if there has been a change in flow direction
Safe guard your reputation – keep disputes to a minimum by understanding upstream and downstream relationships
Contact email@example.com to take control of your data and keep your organization on the path to success.
It’s never too late to start!