The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Apr. 23, 2013
Filed:
Sep. 09, 2004
Lifting partner groups for allocation of lifted product consistent with production sharing contracts
Justin Chen, Singapore, SG;
Timothy Crossett, Östringen, DE;
Armin Risch, Arlington, VA (US);
SAP AG, Walldorf, DE;
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.