What is JIB Netting and how does it work?
JIB netting is the process of taking the amount owed on your joint interest invoice and deducting that amount from your revenue and issuing a net check if applicable each month. If your invoice is more than your revenue, you will receive a check showing a zero amount. You need to pay any additional amount owed on your invoice if there are not enough funds to satisfy the balance owed. Please note that revenue checks are issued only when the revenue amount due exceeds $100.00 therefore it may take several months before you see any revenue applied to your invoices.
