Payment Obligations

Featuring Automated Obligations Scheduling


Payment Obligations

We are the ONLY lease management system IN THE WORLD offering this kind of automated business intelligence to E&P companies.

Based on lease contract terms, conditions, and well/unit activity, iLandMan automatically creates an obligations schedule for vertical/horizontal pugh clauses, lease extensions, shut-in payments and more.

 

Payments and Working Interest Dashboard

 

It also automatically creates a chronological list of obligation payments needing approval, linked directly to the leases, grantors, reasons for payment, and recommended amounts.

 

Payment Obligations

 

And, through every step of the payment approval process, iLandMan automatically emails a notification to each of the authorizing parties when action is taken.

 

Payment Approval Notification Email

 

Based on what we have seen in a number of other programs, the other “obligation calendars” on the market can do little more than suggest a manual review of leases at certain time intervals. Rather than actively monitoring the data or well activity, these function more like “reminders” requiring the user to analyze and calculate his obligations every month, quarter, year, etc.

 

Automation like ours, that can be broken down to the mineral tract and formation level, will save your team a tremendous amount of time and is more accurate than ever before. Contact us today for a free demonstration! Call 1-855-445-9629, email sales@ilandman.com, or fill out the form below.

 

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