Maps: Living, Breathing Entities in Land Management08/24/2020
All land departments have issues surrounding maps – from the most sophisticated GIS structures to the groups that outsource all of their mapping processes. Many considerations must be made if engineering, geology/geophysics, and land are all to be on the same page. Consistency and communication are vital among and between these groups.
A geographic information system (GIS) is a system designed to capture, store, manipulate, analyze, manage, and present spatial or geographic data. All land functions (brokerage, company land departments) whether they acknowledge it or not need to have a map. Possessing a dynamic, database-driven map keeps these departments up to date and in real time with the actions they are conducting.
The Story of a Map
Not long ago, a customer approached us and said they had bought 150,000 acres in a shale play. They mentioned the seller had a map, but it wasn’t digital and hung on their wall for years. They asked if we could recreate it, and we asked when it was updated. The land guys gave us puzzled looks. Apparently, the map was created in 2010, and it’s simply a static picture of the position of lease ownership on that day. It was never updated even though leases expired, leases were drilled and are producing, acreage dropped, and acreage was added. They all nodded in agreement that a new map was needed, but they had no clue how to go about securing said new map.
Fast forward some time… The P2 iLandMan team built all the tracts and associated them to the leases that are in effect today. We also connected them with the wells and units so they could have an updated map at any moment in time. Ask that customer today, and they will tell you they don’t know how they managed their acreage those first few months with a static, antiquated map.
Through the P2 iLandMan mapping interface, we use tracts and formations as the foundation to land data. This focus has huge returns, yet many think it takes too much time to get this set up or costs too much to implement. But all it takes is one mis-plotted lease or single acreage view (e.g. aerial) that can cost a company dearly.
Analytics: Maps’ Best Friend
Map analytics play an important role in the GIS process. Being able to query a land database to get results that can be displayed and analyzed is essential to your company’s success. As a professional in oil and gas land management, you’re ideally looking at things like:
- Lease obligations
- Competitors’ lease positions
- Tract statuses
- …and more
You should also consider dynamic reports from map selections giving you “what if” scenarios.
Your Map Has The Answers
“What if we drill this well, and they don’t pay their extension? What can we do?” The next time management asks you these tough questions, rest assured, your map has the answers.
P2 iLandMan helps land departments understand what their lease position looks like, where their competitors are located, and how to maintain their ever-important map. This is one of the most important assets a land team can invest in, so make sure yours is equipped to work for you.
For more information on P2 iLandMan, a tract and formation-based land and lease management system, visit our website. If you’re looking for land management software to ease the manual burden and employ time- and cost-saving efficiencies, read our “ultimate guide” or click the banner below.