P2 Reporting Streamlines Division Orders and Well Cost Analytics06/17/2021
Anyone familiar with the old Freddy Fender song “Wasted Days and Wasted Nights” might wonder if the songwriter ever spent time administering the division order process. The essential process of preparing, mailing, and tracking division orders has long been a challenge due to their time-consuming, manual, and often cumbersome nature.
Those days and nights are gone thanks to P2 Reporting, our powerful tool that has made the administration of division orders and research of well ownership information for the many projects and daily tasks you have pain free.
How Can P2 Reporting Improve Your Division Order World?
- Easy access and greater reporting options – at the click of a button. Division order analysts can more quickly identify all of the properties/wells that belong to a particular owner. Research of changes in ownership – through death, divestiture, or transfer of interest – are no longer a challenge.
- Custom, flexible NADOA reporting templates and assignment exhibits. P2 Reporting provides out-of-the-box, industry-standard division order and transfer order templates, plus offers the ability to customize them for specific situations. The flexibility of our tool includes the option for you to generate division orders with or without an exhibit A, as well as change the content on the exhibit A by limiting it to a single owner’s interest or expanding to show a consolidated list of all owner interests. When an owner has multiple interest types, e.g. an ORRI and a WI, one division order can be generated to include both interest types if desired.
Our reporting system also enables you to gather data for analysis and create custom exhibits and schedules for various types of projects. Exhibits and other schedules can easily be generated for any demand – even for those times you want a report that lists all well interests for one (or more) owners.
- Streamlined DOI mailings for happier customers, happier trees, and less waste. One of the most labor-intensive aspects of DOI reporting for analysts is the cumbersome task of paper generation, printing, and mailing of division orders. We’ve streamlined that process by allowing you to generate forms in multiple sets with various options. For instance, you may want to save the full exhibit of interests for your file but send two copies of only the owner’s interest to each owner. The instruction pages can be customized for your company, and you can have different sets of these available to use and send.
Thanks to P2 Reporting, these documents can now be consolidated into a single, more customer- and earth-friendly package, which not only makes customers happy, but also saves money and improves sustainability.
- More options for export and quicker printing of DOI reports without locking up the desktop. P2 Reporting enables export to PDF, Word, and Excel, so analysts can more easily sort and manipulate data. And printing a single DOI report may involve hundreds of pages which can often lock up an analyst’s desktop rendering them unable to do anything else. Not with P2 Reporting.
P2 Reporting Does More Than Simplify and Improve the DOI Reporting Process
- Richer data analytics means you can analyze well profitability for a greater understanding. P2 Reporting delivers analytics capabilities for an entire management team, so you get deeper analysis on well performance and cost. Want to know which of your wells are most or least profitable? P2 Reporting includes a dashboard that enables users to assess and visually report individual well-cost performance. This includes insights like costs by vendor per well and performance metrics, so each well’s financials can be isolated and compared to others in the owner’s or operator’s portfolio and displayed in a visual format for easier presentation to leadership.
- Quick access to ownership information makes reporting for land transactions a breeze to create. P2 Reporting makes gathering well interest information for use during the due diligence process and preparing formal exhibits and schedules for contracts easy as pie. And if your company wants a bigger piece of the pie, P2 can help you gather the ownership data you need to send out offer letters to secure those assets.
When properties are mortgaged, P2’s flexible reporting tools streamline the process of gathering and preparing a schedule of pertinent wells and the company’s current interests. P2 gives you the reporting tools and dashboard analytics to keep your lenders happy.
At P2, we’ve taken division order processing and ownership analysis to the next level by streamlining research and reporting and delivering more powerful analytics capabilities. This is great news to the 1,000+ users who already employ our reporting tools.
For more information about P2 Reporting, or for a demonstration, visit our website and contact us.
Ben Pauls, Product Manager