Convenient handling of complex Working Interest (WI) and Overriding Royalty Interest (ORRI) data without the hassle of inaccurate calculations.
Working Interest (WI) and Overriding Royalty Interest (ORRI) can be some of the most difficult tasks while managing land data. The Bluetick Land Management System gives you simplified tools to manage these interests at the lease level or simultaneously across all leases in an entire Unit.
As interests are bought and sold, accurate records for leases and affected wells must be preserved. No matter if you are selling or purchasing working interest and retaining an override or providing one, the Bluetick LMS makes this a seamless process. Convenient reporting features give you the ability to deliver precise Working Interest Reports on specific interest owners, units or wells. You can even obtain total working interest net acres calculations, or company nets, with minutes.
Tracking Working Interest and Overriding Royalty Interest Across Depth Formations
Working Interest and Overriding Royalty Interest can be assigned across depth, giving you the ability to track and manage various interests based on depth formation. For example, you can sell all rights in a particular Unit while retaining an interest in the shallow rights. In another example, you could purchase only working interest in a specific set of formations. Our Interest Splits tool simplifies the complex process of dividing interests.
The Bluetick LMS can determine if no depth splits exist while creating a sale and automate the division of tract ownership into the required depth formations while updating any leases or agreements that may be attached. This automated split feature saves you hours, possibly even days of grueling spreadsheet calculations that can be prone to error.
Data Import for Mass Upload of WI and ORRI
The Bluetick Land Management System is designed to import working interest on a mass scale and automatically attach that interest to the required set of leases in a particular area. Additional overrides can be assigned in the import and those are repeatedly assigned appropriately to the correct set of working interests. This saves users countless hours of making assignments of interest and allows for sales to be made to thousands of leases at once.
Want to know more? Give our Land Management specialists a call today.
- How to Choose a LMS
- Key Benefits
- Key Features
- Data Migration
- ESRI ArcGIS Integrated
- Tract Ownership
- Rights of Way Management
- Instruments / Recordings
- Depth Restrictions
- WI/ORRI Management
- Scanned Documents
- Landman Time & Expense
- Client Invoicing
- Payment Management
- Document Creation
- Status Customization