Assent SMOG – FAS 69

During their annual report process, companies are required to comply with the reporting requirements of SFAS 69 Disclosures about Oil and Gas Producing Activities (SFAS 69), which is also known as the Standardized Measure of Oil & Gas (SMOG). As with anything that you do just once year, there are inefficiencies in the process that chew up valuable time as you try to remember what you did last year. The Assent SMOG solution helps companies with their SFAS 69 calculation by replacing inefficient spreadsheets and custom reporting approaches with a standardized application that is organized in a logical manner. Assent SMOG allows you to spend more time analyzing the calculation results and methodology versus programming a complex spreadsheet to meet your SMOG reporting requirements.

Solution Features:

Provides a reliable, secure, auditable, and repeatable solution to your SFAS 69 reporting requirements.
Clear view of calculation components and the math behind the calculated values.
Ability to override calculations if you have a better value based on additional information.
Import features allow data to be loaded easily into the system.
Control totals and verification processes ensure all data is provided for the calculation components.
Numerous standardized reports including roll-forward amounts and reserves easily exported to Excel

Solution Benefits:

Reduced Operational and Reporting Risks - standardized reports allow you to better analyze your data to refine your calculation. Our solution eliminates the “copy and paste” risk that exists with all Excel reporting approaches.
Industry Best Practice Methodology -we examined hundreds of different spreadsheets that our clients had programmed and took the best aspects to construct our specialty software.
Auditing and Change Control - all new data and changes to data are tracked to the user who performed the action and can be easily identified. In addition, changes can be restricted to authorized users only.
Reduced Time to Prepare Reports - reports are easily exported into Excel which streamlines financial reporting procedures and reduces overhead costs through reductions in staff time spent managing, maintaining and updating cumbersome spreadsheets.

Assent SMOG will help you with your SFAS 69 disclosures through the consistency and logical organization of the data within the application which will allow you to have more time to do the things you want to do.

We work with companies of all shapes, sizes, within the oil & gas industry to help avoid the common problems we all face. If you have any questions about our Assent Data line of products or to view an online or onsite demonstration, please call Dave Loucks at 303-872-4120 or send him an email at dloucks@opportune.com.