Partner and Regulatory Reporting

Keeping operating expenses low is always a priority. One frustrating cost to most operators is the ongoing reporting of operations to others outside the company, like regulatory bodies or partners. It is a necessary administrative activity, but does not add value to the operation. Some OVS clients have drastically reduced the resources needed to fulfill these requirements using workflows to automate the process. This automation results in reduced overhead and operating expenses.

The Challenge

For any lease, well, field, plant or other asset in an oil and gas operation, there are multiple interests that require routine reporting. These parties may be investors, partners, working-interest owners, royalty owners, land owners, contractors, government agencies, or regulators.  Each group may have different requirements.  The state agency may require a formatted text file, while partners may want spreadsheets or pdf’s delivered via email.  The cost of generating this information is a huge overhead for the operator of the asset.

Let’s look at a typical oil lease in Texas.  The lease may have several wells that produce to a single tank battery.  The production for the lease must be reported monthly to the state (Railroad Commission in Texas) in a specific format.  The same lease, however, typically has multiple owners or partners.  These owners also require regular reporting on production for their own reserves reporting needs.  The timing, content, and format of the report depend on the terms of the lease operating agreement. Most operations will have many leases that make up the operation.  The task of providing the right reports, on-time, and in the right format can be daunting.  And that is just production, other reporting may be required, such as, water usage, flaring, reserves, operating expenses, capital expenditures, or water disposal.


The Solution

OVS frequently deploys automated reporting workflows.  These workflows connect to operational data sources as well as financial and production accounting systems.  With these direct connections, the workflows can generate the correct report at a scheduled time or on demand.  Information about partners and other outside interests are built into the workflow.  This system automatically generates all the necessary communications to the outside parties. Business rules in the workflows help direct the attention of the administrators to potential issues in the reports. With this automation, administration costs can be reduced while report quality is improved.

If you have an interest in seeing how your operations can reduce overhead, please contact OVS Group.


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