Cloud-Native Efficiency
Leverage a secure, SaaS-based system accessible anywhere, eliminating the need for on-premise installations or manual updates.
Cloud-Based Precision for Crude Oil Purchasing and Settlements
CRUDE OIL FIRST PURCHASER SYSTEM
Key Features
Designed for efficiency, transparency, and control, it provides real-time visibility into pricing, payments, and contracts across your organization
- Centralized purchasing platform: Manage every stage of the buying process through a unified, cloud-native system, ensuring accuracy and consistency across departments.
- Dynamic contract management: Calculate prices and volumes automatically, based on BSW, gravity, temperature, and effective contract dates, minimizing manual work and ensuring accurate valuations.
- Automated run ticket processing: Generate, reconcile, and validate run and meter tickets in real time, providing immediate insight into purchase status and contract performance.
- Integrated financial posting: Connects seamlessly with Providence Accounting modules, like General Ledger, Accounts Payable, and Accounts Receivable, to streamline reconciliation and financial accuracy.
- Complete reporting and analytics: Extensive management and regulatory reporting options, with customizable dashboards and auto-generated compliance reports.
- Flexible data entry options: Input data through run tickets, metered tickets, and pre-calculated files, or sync directly with PetroSync In-Cab System for real-time updates from the field.
- Compliance and audit control: Keep full compliance with federal and state agencies, supported by automated reporting and detailed audit trails for every transaction.
Data Accuracy and Visibility
Gain real-time transparency into every transaction, reducing discrepancies and ensuring audit-ready accuracy.
Scalable and Future-Ready
Expand seamlessly as your business grows, with built-in scalability for new assets, contracts, and reporting jurisdictions.
Customized Reporting
Tailor management, transaction, and compliance reports to your needs. If you don’t see a report, we will build it for you.
Seamless Integration
Connects directly with other Providence modules for unified data flow across accounting, land, and production systems.
How Providence Pulse Owner Relations Works
From inquiries and legal updates to document tracking and performance reporting, Pulse brings structure and automation to owner relations.
1
Log calls and conversations
Capture every owner call with key details and assign a status for easy tracking.
2
Upload and Manage Legal Documents
Store all legal and ownership documents in one centralized repository for quick access and compliance verification.
3
Categorize Inquiries
Organize requests by topic and subtopic to streamline reporting and ensure consistency.
4
Prioritize and Close Out Inquiries
Assign priority levels, manage follow-ups, and close inquiries once resolved, maintaining a clear, auditable trail.
5
Generate reports and insights
Access real-time data on open cases, delays, and resolution times with built-in reporting and dashboards.
Benefits of Crude Oil First Purchaser
Transform how your team buys, tracks, and reports crude oil with the industry’s most complete first purchaser solution.
Streamline operations
Automate ticketing, pricing, and settlements in one integrated workflow to eliminate manual effort and reduce errors.
Improved consistency
Automate calculations to ensure accurate pricing and volume measurements, reducing costly discrepancies.
Regulatory compliance
Stay current with built-in state and federal reporting capabilities and other compliance filings.
Enhanced accountability
Real-time dashboards provide insight into purchase status, cash flow, and performance metrics.
Quicker settlements
Reduce payment cycles and accelerate revenue distribution to owners and operators.
