Making informed and quality decisions regarding your upstream oil and gas operation requires timely and accurate data often from different departments and systems. If you’re looking at a well for a workover, for example, you likely want to have the production history, decline analysis, and expenses and revenues associated with the well, plus your ownership in the well so that you can understand the direct impact to your bottom line. If two wells have similar prognoses for improvement, working on the well that you have a higher interest in first will provide your company a higher return.

One of the biggest challenges facing oil and gas accounting and finance teams is the lack of centralized data – or the absence of data integration across systems and databases.