AFE Management

The Easiest Way to Manage AFEs: Creation, Approval, Tracking and Field Variance
The days of emailing and calling to check on the status of AFE approval, internally or with NonOps, is over! DeepData makes it easy to create AFEs. Then you define the approval workflow both internally and with NonOps. Best of all, you get a real-time dashboard for tracking when each person in the approval process views the AFE and their approval status. This is the way AFEs should be handled in the age of the Internet. Once you try it, you’ll never go back to the old email, meeting and phone call approach.

The Modern AFE Solution

Customized for the Way You Work

It takes just a minute or two to load your cost codes, and another few minutes to design your workflow for both internal and external review and approval. Once this is done, DeepData’s AFE Management module is completely customized for the way your business works.

Create or Clone an AFE

Create a new AFE, or clone an previous one, in just minutes. Cost calculations can tailor your costs on the fly, using equations built around things like lateral length, measured depth, number of stages and more. Once you’ve created your AFE, for any well process, it goes through your internal approval process.

Internal Approval & Tracking

The internal approval process is simply a chain of individuals or groups who must approve the AFE in sequence. You get real-time updates on when they open each AFE, whether they have comments and whether they have approved or declined it. No need to call, email or call people out in the hall or in meetings, you know the status is for each AFE in real-time.

Total Visibility into NonOp Approval

Assemble complete AFE packages, with attachments, for your NonOps. The software apportions their cost share based upon their working interest and includes the non-consent penalty. It routes the packages to each NonOp and then provides you with updates each time they view, and approve or decline your AFE.

Track Field & Actual Variance

Field costs can be entered either directly in the AFE module or through the cost logging solutions in our Completion and Drilling modules. Then the accounting team can enter actual costs into the AFE Management module and it tracks all variances.

A Complete History of AFEs for Each Well

When you pull-up any well in the AFE overview, you get a complete history of each AFE for that well, complete with initial cost estimates, field estimates and actual costs. You instantly know the historical financial outlay for every process on every well.

AFE Management

The easiest way for E&P companies to create & track approval for expenditure (AFE)

Instant Insight

Powerful searching, sorting, filtering and categorization gives you instant insight into any vendor information in seconds.

Real-Time Updates

Any changes to vendor information or customer requirements is instantly available to all of their partners in real-time.

Change Alerts

Customers are alerted to changes to vendor information that puts that vendor out of compliance with customer requirements.

No Filing

You are no longer spending hours every week searching through filing cabinets, all information is stored and accessible online.

Efficient

Traditional vendor/customer 1:1 interactions are now 1:ALL interactions. This makes you far more efficient and effective.

Complete

This is a complete solution handling vendor qualification, approval, management, priority and then connecting the wellsite.

© Copyright 2017 - DeepData, Inc.  All Rights Reserved.