Business Process Outsourcing
Providing outsourcing services since 1991, our seasoned team puts P2’s Business Process Outsourcing (BPO) top of mind for emerging and established oil and gas companies alike. Our BPO manages your organization’s back-office functions so you and your team can remain focused on what matters most – promoting company growth and profitability. As one of the largest oil and gas outsourcing providers, P2 helps oil and gas companies of all sizes.
Features
Revenue Accounting
We utilize P2's own market-leading solutions, not third-party software, to manage even the most complicated revenue scenarios. Because we developed the solution, we know it through and through and, because it has been field tested and refined by hundreds of operators, we can make distributions in a seamless and timely manner.
Treasury & Financial Reporting
We generate and mail payments to interest owners on a schedule that works for you. Using P2’s BPO for check processing frees you from having a dedicated printer for writing checks or a separate group of checks for each account or bank. Whether you need a general ledger, monthly trial balances, income statements, or any other kind of report – our BPO team provides custom financial reports based on your specific business requirements.
Accounts Payable / Joint Interest Accounting
By allowing P2 BPO to process your accounts payable, your administrative staff can provide support in other core business areas and continue to focus on building value for the company. We also generate and mail invoices to interest owners, providing a detailed account of all charges by well or prospect at the gross and net levels for both you and project investors. We’ve invested in the process and have the scale and experience to use the tools of our partners to improve processing – passing along the savings to you.
Production Accounting & Regulatory Reporting
We calculate production volumes and manage the intricacies of volume, tax, and royalty regulations and reporting across the ever-increasing body of overlapping jurisdictions. P2’s BPO prepares and files required reports and returns, and serves as your first line of contact with governmental agencies.
Land Administration
Because not every company is equipped to employ a full staff of lease and division order analysts, we can fill that role and manage all your mineral-related tasks. Longer horizontal wells mean more owners changing more often, an increased burden on maintaining leasing and contact information, obligations around leases, and division orders – as well as more time spent dealing with minerals owners. P2’s BPO takes all of that off your plate.
Transitional Service Support
P2’s BPO allows you to avoid the hassle of buying your own systems and staffing up back-office operations to process transactions, while still escaping the burden of a Transitional Service Agreement in weeks rather than months – saving you six figures or more.
Benefits
Quick Startup
Startup only takes 30 days with a balance-forward approach.
Proven Expertise
Knowledge and experience in over 100 companies from small startups to large acquisitions.
Low Cost
No investment needed in staffing or IT infrastructure.
Flexibility
Customized to fit your changing needs over time.
Scalability
Ability to scale as you grow through BPO or migrate in-house, as needed.
People
Hundreds of years of experience managing the intricacies of the oil and gas industry.
