3 min readOil and gas accounting has never been static. As portfolios grow, ownership structures evolve, and regulations tighten, accounting systems must adapt. That’s why Upstream On Demand Accounting is designed as a purpose-built solution, continuously updated to reflect the realities of the industry.
Enhancements to the revenue deck provide a direct response to operator needs, delivering automation, accuracy, and visibility where it matters most—whether you’re managing a large portfolio or migrating from an on-premise system. For a closer look, read part 1 of the blog series and watch the demo by Kevin McArthur, Quorum Software’s Solution Architect for Upstream On Demand Accounting.
Intuitive Revenue Deck Management
A source of complexity for any accounting team, revenue decks have been updated in Upstream On Demand Accounting to address real user challenges. This is just another example of how responsive the solution has been to the industry’s evolution.
- All Product Option: This option removes the need to maintain multiple decks for the same ownership, saving time and reducing errors.
- Owner-Level Effective Dating: Users can track ownership transfers with effective and expiry dates for clear reference, supporting future chain-of-title tracking.
- Suspense Visibility: Owner- and deck-level suspense is now displayed directly on the deck, improving transparency and reducing reconciliation time.
Burden Deck Automation
Burden decks extend automation even further. Market Exemption Groups handle severance, tax, and gathering deductions, reusable across decks, and imported or managed through a simple upload process. By assigning working interest owners to bearer groups and defining royalties, overrides, and market exemption groups, the system automatically calculates Net Revenue Interest (NRI).
This way a user can edit participants and overrides while ensuring totals reconcile. It also reduces manual calculations, minimizes risk and lets teams focus on what matters most: analysis rather than repetitive tasks.
Integration and Suite Context
As Upstream On Demand Accounting operates within Quorum’s digital core, it feeds data into Data Hub. It is an integration to allow a few things to happen:
- Collaboration improvements occur with accounting information flowing seamlessly across the suite.
- Zero effort is wasted or duplicated, as teams connect operational, financial, and reserve data.
- Errors are reduced and decision-making is accelerated through a unified, automated environment
Evolving With the Industry
Ongoing user feedback inspired updates and support ensure the platform continues to evolve. Quorum's User Voice allows customers to request features and vote on priorities. The continuous integration of AI assistant, QAI, provides intelligent guidance and supports users with answers drawn from documentation, learning and improving over time.
It’s essential that teams work efficiently and stay aligned across upstream operations. The Upstream On Demand Suite, including the continuously evolving Upstream On Demand Accounting, is a prime example of how integrated systems eliminate duplication, improve efficiency, and deliver an even greater value.
Schedule a demo today to see how Upstream On Demand Accounting can streamline your operations and keep your teams focused on results.
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