CLIENT
The client is a leading US E&P company dedicated to the acquisition and development of oil and gas properties within the Rocky Mountain region. With a strategic focus on operational excellence, the client is actively engaged in the Williston and Uinta Basins, showcasing their commitment to the energy sector's growth.
Backed by substantial equity commitments, and managing an active portfolio of some 1,200 wells, the client stands as a formidable player in the industry. Leveraging their Denver base and strategic partnerships, they bring a wealth of experience and expertise to the dynamic landscape of oil and gas operations.
CHALLENGES
Facing operational challenges, the client identified key areas requiring improvement:
- The existing QAQC system heavily relied on manual processes, involving the updating, and sharing of flat files. Compounded by Lease Operating Statement generation from a third-party vendor, this method proved inefficient.
- Additionally, data gaps hindered seamless decision-making.
OBJECTIVE
In response to these challenges, the objective was clear: Develop a Lease Operating Expense (LOE) / Lease Operating Statement (LOS) dashboard tailored to the client’s specific data structure.
This involved accommodating nuances such as Accounting and Activity date (with two timesteps) and distinguishing between Gross and Net Data.
SOLUTION
PetroVisor’s data model was not originally designed to handle time-based data that had more than one transaction for the same time step AND same entity.
Adapting to Petrovisor's limitations, Datagration’s team employed a pragmatic approach to handle large transaction tables and the lack of a reference table feature. Creating four signals for one data type compensated for the absence of a reference table feature. Hierarchy challenges were mitigated by a systematic renaming of duplicate wells, ensuring data integrity. Coupled with other coding changes, this allowed for efficient processing in Power BI, overcoming scalability issues.
Note: The financial data handling developments generated during this work have since been implemented to the PetroVisor platform. The platform can now ingest data in reference tables and is wholly agnostic of time steps.
RESULT
The LOE-LOS project marked a significant operational improvement for Datagration’s client:
- The project facilitated a streamlined accounting process, improving data accessibility.
- The client’s engineering team experienced a notable shift, redirecting their focus from data compilation to more strategic decision-making.
- The solution found widespread adoption across the organization, resonating with both field personnel and executives.
Recognizing the value of the solution, the client extended their agreement with Datagration committing to Petrovisor's premium support service, underscoring their satisfaction. Actively promoting tool usage, the client has seamlessly integrated access to PetroVisor into their new hire onboarding process. As the tool becomes an integral part of their daily operations, the client is positioned for continued success in the oil and gas sector.
