Condition-Based Pricing for Oil and Gas Operators
As an upstream oil and gas operator, you likely have various pricing agreements in place with your suppliers. These agreements can range from simple and rigid pricing structures to complex and flexible pricing structures. One specific type of flexible pricing agreement that is commonly used between buyers and suppliers in the oil and gas exploration […]
What is Joint Interest Billing (JIB) in oil and gas accounting?
Joint Interest Billing, or JIB, is a form of accounting specific to the oil and gas industry. Because the industry can be high risk, high reward, it’s common for different parties to invest in a single drilling project. Shareholders within the joint venture have different responsibilities and privileges. A JIB statement divides the expenses and […]
Introducing OpenInvoice Essentials: A New Accounts Payable Solution for Oil & Gas SMB
OpenInvoice, an accounts payable solution by Enverus Business Automation, has helped some of the largest oil & gas operators eliminate paper and automate processes, transforming how these companies manage their financial operations. Many large companies achieved nearly total digital transformation, from paper to electronic invoices, with OpenInvoice. While this software has contributed to tremendous cost […]
Five Reasons Why You Should Attend the 2019 Business Automation User Conference
Something I find exciting about the oil & gas industry is the constantly changing nature of the business. In such a dynamic and innovative industry, back-office processes for many companies remain the same as they were 50 years ago – and they involve paper. Oil & gas producers and suppliers learned a hard lesson as […]