AFE Tracking Software
AFE vs actual, in real time.
The AFE-vs-actual conversation usually starts at month-end close, 30 to 60 days after the overrun is already booked. By then the decision window to stop, reduce scope, or call a partner meeting is gone. WorkSync AFE tracking shows the variance every shift, against drilling day-rate burn, completion frac stages, and workover rig time, with supplemental AFE workflows that fire before the overrun lands.
The lifecycle
Five phases. Where money leaks in each.
Phase 01
AFE creation
Where it leaks
Drilling, completion, workover, recompletion, facility capex. AFE template populated from prior-similar AFE actuals (not last year's budget). Cost line items pre-categorized for variance attribution downstream.
WorkSync lever
Reusable cost templates by well type + basin + completion design. AFE-creation time drops from 4-8 hours to under 1.
Phase 02
JV / partner routing
Where it leaks
AFEs over operator-elected thresholds (typically $250K-1M depending on the JOA) require JV partner approval. Approval routing has historically lived in email chains with PDF attachments.
WorkSync lever
Signed-link approval routing with audit trail. Partner approvals captured with timestamp + signer ID. Lapsed approvals flagged before AFE start date.
Phase 03
Live AFE-vs-actual
Where it leaks
The phase where money actually leaks. Invoiced costs land in accounting 30-60 days late. Field commitments accrue daily but stay invisible until invoice. Month-end close is the first time the operator sees the variance.
WorkSync lever
Real-time ledger pulls invoiced costs + field commitments + day-rate burn into a single AFE-vs-actual view. Projected total-cost updates every shift. Overrun catch rate moves from "30 days after the fact" to "during the job."
Phase 04
Supplemental AFE
Where it leaks
When projected total exceeds AFE bounds, a supplemental AFE is needed. In paper-based workflows the supplemental gets cut after the overrun is already booked, which is too late for partner approval.
WorkSync lever
Supplemental AFE triggers automatically with variance reason categorized (weather, mechanical, scope change, partner-approved adder). Partner approval routed before the overrun books.
Phase 05
Closeout reconciliation
Where it leaks
Final AFE-vs-actual reconciliation at job end. The number that informs the next AFE template, the next basin-specific cost model, and the CFO's FCF-per-BOE conversation with the board.
WorkSync lever
Closeout numbers flow back into the AFE template library. Variance reasons aggregate into the next-year capital planning input. The AFE-vs-actual loop closes.
Continue the cluster
AFE tracking sits inside the broader upstream finance loop.
Companion pillars
The cluster
- Upstream Optimization→
The umbrella discipline
- M&A Integration→
AFE rollup across acquired assets
- Production Allocation→
Revenue side of the FCF equation
- LOE Reduction→
OPEX side of the FCF equation
- Five Investor Metrics→
How AFE-vs-actual reads at the board level
- ROI Calculator→
Model your AFE-overrun-catch ROI
Compare to your stack
Already running something else?
How the loop closes
Capability deep-dives
Frequently asked
What CFOs and VP-Ops ask before they commit.
What is AFE tracking software?
Software that manages the lifecycle of Authorizations for Expenditure: creation, JV/partner approval routing, real-time cost capture, supplemental AFE requests, and final closeout. The good systems show AFE-vs-actual variance live, not 30-60 days later at month-end.
Why is real-time AFE-vs-actual hard?
AFE budget, invoiced costs, and field commitments live in three different systems on three different cadences. Invoices land 30-60 days late. By the time month-end shows a $200K overrun, the well has been drilled.
How does WorkSync work?
Data Hub pulls AFE, invoiced costs, and field commitments into a live ledger. Day-rate burn, frac-stage cost, rig time accrue against AFE budget every shift. Supplemental AFE workflow triggers automatically when projected total exceeds bounds.
Does it replace our existing AFE / ERP system?
No. Read-only on Enertia, PakEnergy, W Energy, Oildex, Quorum, P2, SAP. Your AFE system of record stays; we add the live variance layer.
How does JV partner approval work?
AFEs over operator-elected thresholds route to JV partners via signed link or email. WorkSync captures partner approvals with timestamp and signer ID. Flags AFEs where partner approval has lapsed past start date.
What is the ROI?
Cost-overrun catch rate improves: overruns surface in week 2 of drilling instead of month-end. Typical operators see 15-25% reduction in supplemental AFE requests in the first year. Plus calibration: next year's AFE budget reflects real costs, not stale assumptions.
See AFE-vs-actual on one of your active jobs.
4-week pilot at no license cost. Pick a drilling, completion, or workover AFE currently in progress. We surface the live variance against budget by Day 7.