AFEWORKS
Oildex's AFEworks was designed to simplify the way oil and natural gas companies create and manage time-sensitive Authorization for Expenditure (AFE) information. AFEworks provides organizations with the ability to electronically create, route, track, and approve AFEs. As a result, multiple departments can easily access AFEs and collaborate within a centralized electronic workspace. In addition, the web-based AFE repository enables users to access data faster and compare budgets to actual costs.

Benefits:
  • Reduces the time and costs associated with creating and managing AFEs
  • Allows users to easily track approval status
  • Simplifies and maintains AFE version control
  • Decreases the potential for errors

Features:
  • Customized, reusable AFE templates
  • Electronic routing of AFEs for internal approval
  • Ability to easily attach supporting documents to AFEs
  • Stores AFEs in an electronic repository, so users can easily retrieve for budget to actual comparisons
  • Maintains a list of owners and their interests for each AFE
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