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 domains. From lease clauses to revenue interests to historic production and scheduled maintenance in the field, each department offers valuable insight that a decision-making team relies on in determining where to curtail or shut in production.
Using Well Data as Key Indicator of Lease Position
Land departments from coast to coast need to understand their lease position using current well data from both operated and non-operated wells. This can be a differentiator and competitive advantage in land management. Comprehensive and timely well data – whether your own or that of other wells in the area – offers insight that allows you to:
Maps: Living, Breathing Entities in Land Management
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.
Lease Maintenance: Increasingly Important in Land Management
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 on. Your oil and gas leases are no different. Lease maintenance is important in understanding what obligations exist on your leases and how to be efficient in maintaining your lease position.
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, the latter of which may be scarce especially right now.
Evolution, Innovation, and Modernization in Land Management
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 issues and questions.
The Real Deal: Data Migrations vs. Data Conversions in Land
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 accuracy? A data conversion, i.e. data consultancy, is a surefire way. First, let’s discover the true nature of a data migration and a data conversion, two techniques people believe to be the same but are starkly different.
An article was recently published comparing oil and gas land systems, and while we are honored to be included, the article was published with a few errors. We thought we’d take this opportunity to set the record straight and divulge more detail – accurate detail – as it pertains to P2 iLandMan. (We've since been in touch with the author of the article and believe the errors have been cleared.)
How Does Your Land Management System Stack Up? Use a Simple Flowchart to Assess
If you’re trying to understand whether your current land solution is best suited and optimized for your organization, this article is for you. If you’re considering a new land system, or are unsure as to whether a new land system might be beneficial, this article is for you. In fact, whether you’re a land manager, landman, lease administrator, division order analyst, finance guru, or GIS manager, this article is also for you.