What is working interest in SAP IS-OIL-DS-HPM - Hydrocarbon Product Management?

SAP Term: working interest

• Component: IS-OIL-DS-HPM

• Component Name: Hydrocarbon Product Management

• Description: A percentage of ownership in an oil and gas lease granting its owner the right to explore, drill and produce oil and gas from a tract of property. Working interest owners are obligated to pay a corresponding percentage of the cost of leasing, drilling, producing and operating a well or unit. After royalties are paid, the working interest also entitles its owner to share in production revenues with other working interest owners, based on the percentage of working interest owned.

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• Key Concepts: 
  Working interest is a term used in the IS-OIL-DS-HPM Hydrocarbon Product Management component of SAP. It is a type of ownership interest in an oil and gas property that entitles the owner to a share of the production revenue and expenses associated with the property. The working interest owner is responsible for paying all costs associated with the operation of the property, including drilling, completion, and production costs. 
  
  How to use it: 
  In SAP, working interest can be tracked and managed using the IS-OIL-DS-HPM Hydrocarbon Product Management component. This component allows users to track and manage all aspects of their oil and gas properties, including working interests. Users can view and manage their working interests in real time, as well as track production revenue and expenses associated with each property. 
  
  Tips & Tricks: 
  When managing working interests in SAP, it is important to keep track of all costs associated with each property. This includes drilling, completion, and production costs. Additionally, it is important to keep track of any changes in ownership interests over time. 
  
  Related Information: 
  For more information on working interest and how to manage it in SAP, please refer to the IS-OIL-DS-HPM Hydrocarbon Product Management documentation. Additionally, there are many online resources available that provide detailed information on working interest and how to manage it in SAP.