Thursday, August 07, 2008

Enterprise Land Lease Acquisition 1.0

P2 Energy Solutions, the industry’s leading provider of oil and gas software, is pleased to announce the development of Enterprise Land Lease Acquisition 1.0. Lease Acquisition will provide a way to easily capture and report on lease, mineral and surface ownership information based on legal land descriptions. This module will provide ease and flexibility in leasing activity, tracking of budget, costs and payment of drafts and is uniquely capable of integrating the wealth of data gathered by brokers or land agents at the field level.

A heightened awareness of data sensitivity and cost controls has forced companies to reassess how they identify and capture field data as it pertains to land management. The result is Lease Acquisition, a broker management system housed and operated by an oil and gas company. What is radically new about Land Acquisition is that it focuses on managing field operations from a company’s perspective.

Traditionally, independent brokers have been responsible for sending information back to the oil and gas companies they serve — a field focus. This data flow required reentry at the company level and was therefore slow, non standardized and susceptible to inaccuracy. By using a unique company-centric focus, Land Acquisition radically simplifies the management of a company’s field land operations. Via the Internet, the broker connects directly to the centralized database held within the Lease Acquisition module, where through an online Q&A process they directly input data into a standardized format. The result is information available to the company land managers in a continuously updated and accurate flow. Ultimately, Lease Acquisition provides unparallel control and management by the company and relieves the burden of system and database management in the field.

Lease Acquisition is a module within the Enterprise Land suite of products. As such, it is developed in .NET and designed within the scope of a Service Oriented Architecture (SOA). Lease Acquisition utilizes APIs to apply standards for moving data in and out of Enterprise Land, as well as integration to accounting platforms and interface with other systems. Since land descriptions and document locations are critical to the process, GIS is a key element in the system. Lease Acquisition assimilates with Enterprise Land’s LeaseCost, LeaseData and Tobin GIS Studio. Additionally, the incorporation of spatial and textual land systems opens up a secondary dimension for operations. Professionals are now able to open an interactive map and immediately analyze thousands of textual records, radically reducing the time required for analysis.

Mark Eikermann, senior vice president of development, P2 Energy Solutions, comments, “Lease Acquisition 1.0 will be available within the 3.0 release of Enterprise Land in late 2008. Its introduction offers P2 Energy Solutions’ customers the ability to establish a repository of title data that can be accessed by brokers, attorneys and field landmen; the ability to improve the accuracy and timeliness of communication between the company and field personnel; the elimination of reentry and verification of data and the potential for associated keying errors; and reduced duplication when searching title, acquiring leases and curing title opinions.”

Tarig Anani, president, P2 Energy Solutions, notes, “Any upstream oil and gas company whose focus is on exploration and development benefits from the introduction of Lease Acquisition. With unprecedented speed and accuracy, the module offers the most complete and fully functional broker and field management tracking system in the market. The elimination of redundant processes coupled with swift responses to changing market conditions leads to significant cost reductions. The culmination of a collaborative effort by some of P2 Energy Solutions’ largest customers, the Lease Acquisition module is another example of P2 Energy Solutions commitment to research and development on behalf of the energy sector.”



Post a Comment