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.

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.

This post wraps up our series around the importance of hydrocarbon allocations in upstream oil and gas.

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, auditability, and performance. 

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 who rely on allocation results that may be reported in various aggregated formats depending on the scenario.

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 production. Over time, it can also provide operations personnel awareness around trends that may be occurring for a specific well or groups of similar wells or similar pieces of equipment.