AFE Management

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Authority For Expenditure (AFE) Management

AFE’s are a critical part of most resource companies and having these correctly approved and managed is a key part of the process. For exploration companies this could be the next drilling programme, for mining a CAPEX application and for Oil & Gas a JV agreement with multiple AFE’s.

A combination of our Electronic Requisition/Purchasing and Approval System in line with Classic’s comprehensive Costing Module provides features which are particularly useful in analysing and managing AFEs. Giving management confidence that the expenditure is authorised and matched to the AFE detail.

The module features very powerful, flexible structures that provide extensive analysis while minimising the amount of coding required on transactions.  We provide the facilities to enable very rich analysis of the data while not burdening the user with the need to enter a multitude of codes on each transaction.

The entry of the simple AFE/Cost Centre/Cost Code combination then generates an additional set of 6 analysis codes attached to each transaction (Class, Dept, Group, Req Type, Form 5 code, Form 5 Header) i.e. a total of 9 codes achieved by the entry of 3.

These will allow analysis of costs by AFE, Cost Type, Cost Centres, Wells, Fields, Service Contracts, Sub Phase, Contracts, Cost Categories, Department of Minerals and Petroleum categories and the detailed cost analysis for other reports.  They will also allow separation of costs into categories such as Exploration, Feasibility, Development, Appraisal, Operations and Rehabilitation.

Classic is very experienced in the Oil & Gas industry; we can provide you with templates for the specific types of AFEs – e.g. Drilling, Seismic, G&G, G&A, Ops  We can also show you how to use Classic to enable costs to be analysed by AFE, Well, Field, PEL and Joint Venture.