Like most oil and gas producers, this publicly-listed producer receives hundreds of Percentage of Proceeds (POP) statements each month. The producer lacked the time, resources and software to interpret the ~40 data elements on each statement in order to improve decision-making and identify potential errors.
The oil and gas producer engaged AEGIS to implement software to digitally read each POP statement and extract key data elements. Further, the software organizes the data and displays visualizations that drive decisions on ethane rejection elections, varying NGL yields, and contract renegotiations on certain fee elements.
AEGIS implemented the software and provided a “single pane of glass” for the producer to assess revenue and costs by location and contract. The software trends data over time allowing users to quickly identify anomalies and opportunities to adjust operations. The software is also used to track contract expirations and key terms that should be addressed in upcoming renewals. As a result, the producer has much better insight into its physical operations, contracts, and realized revenues.