Everyone needs a pair of well-fitted steel-toed boots to work in the oilfield. The thing is, when you first buy a new pair, it can take weeks to break them in. However, once they are, they become so comfortable that, eventually, you may choose to have them resoled...
Blog | Oil and Gas Production
A Solid Allocation Engine Provides Foundation of Accuracy for Building Your Oil & Gas Business
04/15/2021
It is no secret to anyone who follows oil and gas performance that the numbers regarding a company’s production and remaining reserves are essential to the company’s valuation – its foundation for future performance, growth, and shareholder value. These numbers are not treated lightly – they are the...
Tougher Venting and Flaring Regulations in TX and NM Will Challenge Operator Reporting, but P2 is Ready to Help
02/22/2021
A wave of new, more stringent regulations for the venting and flaring of gas will soon be in force in Texas and New Mexico as the two states follow others like Alaska, Colorado, and Wyoming in toughening their regulatory oversight and reporting requirements for these types of events...
Data Synergy and the Importance of Understanding an Oil & Gas Specific Maturity Model
12/14/2020
If you are trying to maintain your leases at the same time as curtailing production, you need certain information available across domains. We explored this first in our blog: Maintain Leases, Manage Shut Ins, and Maximize Efficiencies in a Downturn . Information like a shut-in date is of...
Maintain Leases, Manage Shut Ins, and Maximize Efficiencies in a Downturn
11/02/2020
NAPE recently dedicated a roundtable to the topic of maintaining leases while curtailing production, and we noted a few important takeaways that directly relate to our customers’ utilization of software to assist in this process. Curtailment decisions require cross-department collaboration and access to data within the different upstream...
Through the Lens of a Production Accountant (Part III)
10/19/2020
This post wraps up our series around the importance of hydrocarbon allocations in upstream oil and gas. A typical month in the life of a production accountant (PA) – also commonly referred to as a production analyst – involves activities plus analysis of data that span multiple time...
Three Key Components to Run & Maintain Allocations (Part II)
09/03/2020
We established what constitutes a hydrocarbon allocation calculation , some of the factors that go into creating an allocation scenario, and how scenarios will vary depending on complexity. When it comes to evaluating and selecting a system to run and maintain allocations, there are three key must-haves: flexibility,...
Allocations Contribute to Production Data as Crux of Upstream Oil & Gas (Part I)
08/03/2020
Accurate, timely, and thorough production data is the lifeblood of all oil and gas organizations with nearly every discipline and department relying on it to make decisions. Ensuring hydrocarbon allocations are accurate is an important, sometimes elaborate, responsibility that feeds this production data set. There are multiple consumers...
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
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...
