Blog

Why it Pays to Closely Track the Reasons for Well Downtime

Why it Pays to Closely Track the Reasons for Well Downtime
05/19/2020
A look at how 20 operators monitor downtime + ways to minimize unplanned downtime Detailed tracking of the reasons why a well is down for any period of time provides valuable, time-sensitive insight into the necessary remediation measures an operator should take to get the well back onto...

Low Oil Prices and COVID-19 Accelerate Digital Transformation in Upstream Oil and Gas

Low Oil Prices and COVID-19 Accelerate Digital Transformation in Upstream Oil and Gas
05/12/2020
As OPEC was increasing supply and driving down oil prices, the coronavirus was simultaneously setting in and reducing demand. The two have had earth-shattering impacts on upstream oil and gas, including the challenges of working from home and social distancing in the field, and more starkly, cutting drilling...

The Real Deal: Data Migrations vs. Data Conversions in Land

The Real Deal: Data Migrations vs. Data Conversions in Land
04/29/2020
In land management, data is crucial in understanding and maintaining your lease position, but fundamentally, all data has issues. Data integrity is critical, especially when you need to move, convert, or otherwise manipulate data within a land system. So how do you maintain your data and ensure its...

Updated: How Data Validation and Integration Can Help Upstream Firms Operate More Efficiently and Lower Expenses

How Data Validation and Integration Can Help Upstream Firms Operate More Efficiently and Lower Expenses
04/27/2020
Accurate, connected data enables every department across the enterprise to focus on profit-boosting activities In times of high or low oil prices, it is paramount for upstream oil and gas companies to understand the importance of data and its effect on operational goals. With vast amounts of data...

Accessible Technologies Fuel Adaptable Land Teams

Accessible Technologies Fuel Adaptable Land Teams
03/23/2020
A Look at How Cloud-Based Systems Help Land Management Teams Thrive Did you know that between 2005 and 2017, there was a 159% increase in remote work? (Global Workplace Analytics & FlexJobs) Today, nearly every industry employs people who work offsite, away from HQ, or at home, and...

Deriving Value From Your BPO Reports

Deriving Value From Your BPO Reports
03/17/2020
Reporting on data is critical in any industry. For oil and gas companies, reporting on various aspects of your business is mandatory in keeping the entire operation up and running. After all, without good data, it’s hard to know whether current practices are meeting the demands of those...

Setting the Record Straight: P2 iLandMan

Setting the Record Straight: P2 iLandMan
03/13/2020
An article was recently published comparing oil and gas land systems, and while we are honored to be included, the article was published with a few errors. We thought we’d take this opportunity to set the record straight and divulge more detail – accurate detail – as it...

Optimizing the Financial Close Process Through Smart Reporting

Optimizing the Financial Close Process Through Smart Reporting
02/24/2020
There are many ways to manage the financial close process; it’s certainly not a one-size-fits-all approach. What is uniform in most cases, however, is that a sophisticated reporting tool can significantly improve the process to verify data and make it easier. A Common Accounting Scenario Because oil and...

Attention P2 IDEAS Customers: UK Leading Digital Tax Transformation & Making Tax Digital for VAT

Attention P2 IDEAS Customers: UK Leading Digital Tax Transformation & Making Tax Digital for VAT
02/03/2020
Her Majesty’s Revenue and Customs (HMRC) “Making Tax Digital for VAT” deadline is fast approaching. As stated in the HMRC’s stakeholder communications pack , “From April 2020, data must be exchanged digitally between all software used by a business for VAT.” This is part of the HMRC’s larger...

Updated: How to Improve Your Hydrocarbon Allocations in 5 Easy Steps

Updated: How to Improve Your Hydrocarbon Allocations in 5 Easy Steps
01/27/2020
Production accounting should be a top priority for every upstream oil and gas organization. It could even be argued that production accounting is the heartbeat of each of these companies. This statement certainly isn’t meant to minimize the many other E&P disciplines, only to highlight the significance of...