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...
Blog
How to Efficiently Manage Your Revenue Accounting in Times of Low Oil Prices
08/19/2020
Formerly: Best Practices in Revenue Management Over the past eight months, the oil and gas industry has been impacted by low oil prices and low demand. This directly impacts the profitability of oil and gas producers and changes how they manage their operations. Many companies have had reductions...
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...
P2 BOLO Continues as Leader in Upstream Oil & Gas Accounting
07/27/2020
P2 BOLO is the upstream oil and gas industry’s leading accounting software designed to achieve greater value for complex accounting operations. It was built by oil and gas accountants for oil and gas accountants. Features, benefits, and integrations abound, but a key differentiator for P2 BOLO is that...
Lease Maintenance: Increasingly Important in Land Management
07/16/2020
Maintenance is a fact of life. Just think about all the things you own or possess that need continual maintenance or upkeep. Cars need oil changes. Air conditioners and furnaces need new filters. Appliances need cleaning and inspection. Computers need protection from malware. The list goes on and...
Navigating the Complexity of Ownership Changes
06/23/2020
When you think of ownership changes in upstream oil and gas, a lot comes to mind and that’s because ownership changes is a broad topic. It spans both land and accounting, there are a myriad of types and challenges associated, and addressing them takes time, effort, and manpower,...
Evolution, Innovation, and Modernization in Land Management
06/08/2020
Land departments everywhere struggle to comprehensively manage lease and contract obligations, divisions of interest, interest decks, and GIS mapping, which is why we continue to work on, iterate, and develop land databases. First and foremost, we strive to practice continuous innovation to provide solutions to today’s complex land...
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...
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...
