What is a Run Ticket?

A run ticket documents the amount of oil delivered to a purchaser. It is prepared at the point of delivery by the purchaser or the representative of a transport company, and states the amount of oil removed from a stock tank. The ticket is used as both a receipt and proof of delivery, and so serves as a crucial control over the oil delivery process.

The beginning and ending depth measurements for a tank are netted and multiplied by the unique volume characteristics of the tank to arrive at the number of barrels of oil removed from it. The price stated on the run ticket may be based on a contract price, or the current market price for the region in which the oil was produced. In either case, the price is based on the measured quality level for the crude that has been delivered. The information stated on the run ticket is the source document for the recordation of revenue by the producer.

If a run ticket is completed manually, it is usually filled out in triplicate.

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Oil and Gas Accounting

Contents of a Run Ticket

The key information on a run ticket includes the following:

Unique identifying ticket number
Lease number
Well number
Tank identification
Beginning and ending depth measurements
Number of barrels measured
API gravity and temperature
Proportion of basic sediments and water
True gravity, which is calculated from the observed gravity of the oil and its temperature
Calculated price to be paid, based on the preceding information
Date and time
Signatures of witnesses