US 8,429,044 B2Granted

Lifting partner groups for allocation of lifted product consistent with production sharing contracts

AssigneeSap SE

InventorsJustin Chen, Timothy Crossett, Armin Risch

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Abstract

An embodiment of the invention regards allocating lifted product volumes to specific entities of a Production Sharing Contract (PSC) through the use of Lifting Partner Groups (LPG) and an Entitlement Percentage (EP), which is itself calculated, consistent with the terms of the PSC. Through this system, specific PSC members no longer need to be identified for each specific terminal lift to allocate the lift back to the PSC entity. Rather, the EP is used in conjunction with the Lifting Product Groups to split up the portion of each lift attributable to each entity for actual accounting purposes, and further to determine the average sales price(s) to be used in calculating total production revenue.

Claims27

Dependent claims

A programmable computer containing instructions that when executed comprise:

identifying a product lift from a first shared storage facility storing products produced by a plurality of entities, the products being commingled in the first shared storage facility;
creating a first lifting product group of two or more entities associated with a product comprising the product lift, the two or more entities being selected from among the plurality of entities;
determining an entitlement percentage for each entity in the first lifting product group, comprising:
calculating an estimated entitlement percentage for the each entity in the first lifting group using an estimated price of the product and an estimated production of the product over a predetermined time period;
monitoring an actual production of the product by the two or more entities of the first lifting group over the predetermined time period;
adjusting an actual price of the product to account for arm's length and non-arm's length transactions;
and
calculating an actual entitlement percentage for the each entity in the first lifting product group for the predetermined time period using the estimated entitlement percentage, the actual production of the product, and the adjusted actual price of the product;
and
allocating the product lift and a corresponding production revenue for the predetermined time period between the two or more entities of the first lifting product group using the actual entitlement percentage.

7 more elements

A computer readable storage media containing instructions for a computer that when executed comprise:

identifying a product lift from a first shared storage facility storing products produced by a plurality of entities, the products being commingled in the first shared storage facility;
creating a first lifting product group of two or more entities associated with a product comprising the product lift, the two or more entities being selected from among the plurality of entities;
determining an entitlement percentage for each entity in the first lifting product group, comprising:
calculating an estimated entitlement percentage for the each entity in the first lifting group using an estimated price of the product and an estimated production of the product over a predetermined time period;
monitoring an actual production of the product by the two or more entities of the first lifting group over the predetermined time period;
adjusting an actual price of the product to account for arm's length and non-arm's length transactions;
and
calculating an actual entitlement percentage for the each entity in the first lifting product group for the predetermined time period using the estimated entitlement percentage, the actual production of the product, and the adjusted actual price of the product;
and
allocating the product lift and a corresponding production revenue for the predetermined time period between the two or more entities of the first lifting product group using the actual entitlement percentage.

7 more elements

A network of computers executing instructions that when executed cause one or more of the computers to complete steps individually or cumulatively comprising:

identifying a product lift from a first shared storage facility storing products produced by a plurality of entities, the products being commingled in the first shared storage facility;
creating a first lifting product group of two or more entities associated with supplying a product comprising the product lift, the two or more entities being selected from among the plurality of entities;
determining an entitlement percentage for each entity in the first lifting product group, comprising:
calculating an estimated entitlement percentage for the each entity in the first lifting group using an estimated price of the product and an estimated production of the product over a predetermined time period;
monitoring an actual production of the product by the two or more entities of the first lifting group over the predetermined time period;
adjusting an actual price of the product to account for arm's length and non-arm's length transactions;
and
calculating an actual entitlement percentage for the each entity in the first lifting product group for the predetermined time period using the estimated entitlement percentage, the actual production of the product, and the adjusted actual price of the product;
and
allocating the product lift and a corresponding production revenue for the predetermined time period between the two or more entities of the first lifting product group using the actual entitlement percentage.

7 more elements

Dependencies are inferred from the claim text.