P2 Managed Reserves
Far too many companies today are exposing themselves to unnecessary risk by managing their corporate reserves, an E&P company’s single most critical asset, in Excel. Even when they manage their reserves in a software system, it’s so opaque that executives have little reassurance on the accuracy of the numbers they are signing off on. P2 set out to solve this with a substantial investment in the space, and the results was P2 Managed Reserves, a system of record with 21st century analytics.
P2 Reserves Management adapts to your business processes, helping reserves managers more easily roll-up production data and model future asset production volumes. And, it allows you to combine reserves and production trends with your economics to maximize the value of your strategic reserves decisions.
Your reserves economics work is critical to your business. It should easily integrate with your RMS tool regardless of which one you use. Aries, PEEP, or even custom Excel solutions integrate directly with P2 Managed Reserves so you can continue to work the way you work.
A powerful module with deep functionality around a critical aspect of reserves management: auditing. Track and display the lifecycle to any and all of your reserve entities. View and audit your changes to get the full story on one or multiple reserve entities.
Creates, edits, and tracks user-defined scenarios for reserves futures. Production declines can be imported and blended with forecasted revisions to determine technical reserves deletion cases. Scenario comparison can be reviewed by a chart before sending to analysis in the data cube.
Who wants to go through redundant steps to update every single individual number in their records? We certainly don't, and neither should you. Eliminate the tedium and update your records in P2 Managed Reserves in mass with the Batch Editor.
Connect directly into your document management system and tie the documentation around your reserves directly to the resulting changes. Enable further insight into your reserves management at the fingertips of any reviewer or auditor.
Enables reserves volumes for selected entities to be depleted to the economic limits as a batch exercise. Selected revision categories can be depleted into other revision categories to facilitate reassignment of reserves.
As a critical system of record for data that originates from multiple systems, Link is P2 Managed Reserves' integration systems module that connects P2 Managed Reserves with other sources of production and reserves data. Sync your production, economics, and other data systems for greater insight and rapid-fire analysis.
Are you still using VOLTS? We feel your pain. This module comes free to all VOLTS users, enabling a swift migration to the latest in reserves management technology. Migrating to easier, more intuitive technology should be headache free. We're here to make that happen.
One of the outstanding features of Reserves Management is the ability to set up date-effective configurations. “Time Travel” gives you the ability to report and print reports based on currently defined business operations categories, even though those categories have changed year-over-year. As a result, you’ll be able to track the change history and ensure that everything balances.
Seamlessly import your existing spreadsheets into Managed Reserves and leverage all your previous hard work.
View the full history of all changes as you reconcile, balance, approve, and audit reserves results.
See the historical, geographical and category specific impact of production and reserves changes on embedded charts and maps.
Review the year in as much detail as necessary, drilling into any and all details. Then delegate, approve, or reject any portion of it digitally. This frees your company from email and paper-based workflows.
Change your hierarchies, products or categories every year but retain the ability to look at reports the way they appeared in any given year.
Your reserves data becomes instantly actionable through a number of business intelligence integration.