Quick Glossary
Need a quick reminder of what a form is used for? Take a look at the COTS definitions below to brush up on your Petrotranz knowledge.
COTS Definitions
Form | Prefix | Portal | Definition |
Form A | A | Operator Portal (Publisher) | Submitted by delivering Producer Operators to the Facility Operator of the receiving facility. The Form A shows the months forecasted volumes split out by each Shipper Marketer. The Facility Operator is responsible for either accepting or rejecting the forecasted volumes. Form A’s are due the 2nd and 4th business day of the forecast month. |
Splits | S | Operator Portal (Publisher) | Submitted by the delivering Producer Operators to the Facility Operator of the receiving facility to report the actual volumes. They are accepted or rejected by the To Facility Operator. Splits are submitted during the reporting month. |
Form B | B | Operator Portal (Publisher) | Automatically created upon the submission of a revision to forecast volumes to notify Shippers of forecast volumes updates. Forms without revisions will not have a Form B, and Form A’s that have a pending revision will not have a Form B until the revision goes from Pending to Submitted. |
Working Interest Owner | Working interests, also referred to as operating interests, allow investors a percentage ownership of the drilling operation, functioning as a form of lease providing the investor a right to participate in drilling activities and a right to the resources produced from that activity. Along with deriving an income from the production of the resource, the investors are also responsible for a percentage of the expenses related to its acquisition. | ||
Working Interest Splits | WI | Operator Portal (Publisher) | Used to report the actual delivery to a receiving facility showing the Shipper Marketers allocated volume. It also shows the Producer(s) working interest for said volume behind the delivery Operator’s facility. Comes from the Operator and is reviewed by the Shipper. |
Form C/ERV | C/E | Facility Portal (Publisher) | Due the 10th business day of the forecast month. The Facility Operator uses Form C’s to consolidate all Shipper volumes from Form A’s for a selected facility. Form C’s are broken down by shipper and stream type. |
Volumetrics | V | Facility Portal (Publisher) | Volumetrics are receipts uploaded by the Facility Operator that enforces the Final Actual Volume on the Shipper Splits in the Operator Portal that creates Pending Splits. This are done for the reporting month. |
Notice of Shipments | NOS | Shipper Portal (Publisher) | The Notice of Shipment (NOS) is prepared by the Shipper Marketer to forecast the purchase and sales of volumes for a specific delivery facility for the month. It shows carry over inventory from the inventory from the previous month, purchased lease volumes, and purchases and sale from/to counterparty Shipper Marketers at a connected grouping of receiving facilities. Initial NOS’s are due on the 15th business day of the forecast month, and the final NOS is due on the 18th business day of the month. |