PakEnergy
5 Reviews 2/5 ★ ★ ★ ★ ★Formerly WolfePak, PakEnergy is an accounting and production software tailored for the oil and gas industry that automates revenue distribution, ticketing, and more.
Product Overview
PakEnergy is an upstream and midstream business automation software featuring revenue distribution, joint interest billing, and expenditure authorization. The platform also handles financial statements, compliance reporting, audit trails, and transaction histories. PakEnergy supports core modules like general ledger, accounts payable and receivable, bank reconciliation, deposit entry, and 1099s. It also has add-on tools for document and production management.Pros
- Highly scalable and customizable
- Comprehensive financial management
- Responsive customer support
Cons
- Some user complaints about high pricing
- Cannot hard close accounting periods
Target Market
Exploration and production operators, crude oil purchasers, transporters, haulers, investors, CPA firms, and service companies.PakEnergy software handles daily accounting procedures with specific modules for oil & gas. Its integrated financial management tools include general ledger, check stub entry, and financial and production reporting.
Video Overview
Key Features & Modules
PakEnergy’s modular architecture allows operators, purchasers, and service companies to build a system that aligns with their specific workflows:
CDEX Data Exchange
- Automation: Automates data entry from check stubs, reducing errors.
- Efficiency: Accelerates data processing and includes error-checking features.
Check Stub Entry
- Payment Tracking: Ensures receipt and accuracy of payments from purchasers.
- Data Integration: Compatible with CDEX for automated data entry.
- Comprehensive Reporting: Includes historical reports and payment tracking.
Joint Interest Billing (JIB)
- Integrated Accounting: Combines with revenue disbursement modules for a complete system.
- Customization: Features over 100 lines of description for entries, restart capabilities, and detailed reporting.
- Investor Management: Includes invoice generation and payment tracking.
Land Management
- Lease Tracking: Manages critical land and lease information.
- Comprehensive Database: Detailed lease and prospect information management.
- Integration: Connects with other PakEnergy modules for financial overviews.
Production Reporting
- State Compliance: Facilitates the generation of required state reports.
- Historical Data: Features a graph generator for visualizing up to 30 years of production history.
- Data Integration: Links with other PakEnergy modules for comprehensive analysis.
Revenue Distribution
- Financial System Integration: Combines with JIB for a holistic accounting solution.
- Owner Management: Automates general ledger entries and checks disbursement for multiple owners.
- Suspense Management: Handles legal suspense and petty suspense with detailed reporting options.
Production
- Field Data Capture: Capture quality data from the field, including pump by exception.
- Production Tracking: Monitor and analyze production targets for key metrics like gravity scale adjustments, tank strapping, and product price indices. Also, conduct well tests and run ticket management.
Product Overview
Developer Overview
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User Reviews of PakEnergy
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PakEnergy Review
Look elsewhere. VC owners don’t give a crap about their customers.
Pros
It does an adequate job.
Cons
Been a loyal longtime WolfePak user for over 20 yrs. When Charles Wolfe sold to VC entity, everything changed for the worse. Pricing went through the roof, forced to migrate to the Cloud when they weren’t ready and customer service has degraded to a new low. Quickbooks is now a real option. Sad greed has taken this once great company down.
PakEnergy Review
Frustrated. Even our CPA firm has complained over the issues created by PakEnergy.
Pros
Support staff are generally good.
Cons
As one reviewer wrote, customers who originally were Wolfepak Energy customers held absolutely hostage to the "Cloud" by PakEnergy. PakEnergy not only eliminated the ability for a customer to maintain the solfware on personal computer, and no longer allows client to backup its monthly cycles on personal computer. The backup too now goes to the "cloud." The check services PakEnergy provides are poor, as well. They did not keep the same formatting as WolfePak and an entire order had to be thrown away because of changes PakEnergy made to formatting. How do I give PakEnergy a negative rating--a "1" is too high!
Overpriced but a great software
We ended up sticking with the WolfePak program. It is great and is able to meet all of our software needs. However, I do feel it is a bit more expensive than it needs to be.
Some of its workflows are a bit confusing and more complex than what I am used but other than that it is a great program.
The support team has been more than great and we are happy with our program so far!
Pros
Feature packed and compltes our needs
Cons
Over priced for what it offers Some things are not as user freindly
- Gas Utilities
- 1-10 employees
- Annual revenue $0-$1M
Way too expensive, taking us hostage to the cloud
If I could, I’d give a zero rating. They have totally taken advantage of their client base. Way too expensive, taking us hostage to the cloud.
Pros
We’ve used WolfePak since early 2000’s. Was great until they decided to take advantage of their long term clients.
Cons
Pricing. Cloud based. Really anti-customer base.
Easy to use and quick to learn
WolfePak is a user-friendly and logical oil and gas accounting software. I’ve used several different software packages during my career and have been impressed by WolfePak.
Pros
It's easy to use and quick to learn. I also appreciate the great service we receive from everyone in the company.
Cons
I don't like that you can't hard close periods.
