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Search Results for: compliance
Compliance for Midstream
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Lease Compliance and Custom Software: Eliminating the Single Point of Failure
Onshore Drilling and Lease Compliance Does your company participate in onshore drilling? If so, you would probably agree that lease compliance is an ongoing issue. Onshore wells are smaller, so you have more of them, with the accompanying lease provisions that your company may or may not have a system for tracking.
Energy Software: Leading Indicators, Lagging Indicators, and Safety Compliance
When it comes to safety for oil and gas, it’s easy to get overwhelmed by the intricacies. A culture of safety needs to filter throughout your organization, and this involves having a plan for how to accomplish this.
Managing regulatory compliance and risk
I wrote a few weeks ago about environmental regulations and how the difficulty of keeping up with these regulations can shut down business. Another article I read recently, called “Dealing with Regulatory Risk,” from the Oil and Gas Financial Journal, discussed the issue of regulation of fracing and LNG exports. The author, Don Stowers’ big […]
Environmental Compliance increasingly expensive for oil and gas companies
Regulations make or break for some area’s key industry TIPRO recently published an article in their Fall/Winter edition of Upstream Texas discussing environmental regulations in the United States. In particular, the author discussed how the landscape for government regulation is only getting more difficult. Regulatory compliance drains the US economy of $1.75 trillion a year, and according […]
Oil and Gas Compliance Solutions – Creating a Plan
For the past few weeks, I’ve been talking about compliance in Energy. A growing area of concern in the industry, compliance crosses many areas of an oil and gas company – the constant set of changing requirements around safety, tax, land, legal, environmental and other compliance can feel overwhelming. Luckily, while every compliance scenario is different, there’s a way to […]
Steps for Managing Compliance During a Merger or Acquisition
When a company is facing M&A, the necessity of merging two IT systems can sometimes raise some interesting issues surrounding compliance. As you examine the data, you may discover gaps in the information you are tracking. The stakes for non-compliance are high, so don’t leave this risk to chance! To begin evaluating whether you have […]
How Oil and Gas Compliance Issues Start
If your company has issues managing compliance, the good news is you’re not alone. In oil and gas, there are many causes for the consternation around compliance. Here are a few common causes lurking behind compliance issues. Information Siloes Compliance, no matter whether it be regulatory, safety, tax or any other type, almost always requires […]
Compliance as an Opportunity
Last week I wrote about what makes compliance a dirty word in Oil and Gas, as well as the drivers behind its current urgency in the industry. As we dive deeper into compliance, what’s interesting is that everyone agrees on the goals behind compliance – protecting our safety, the environment, royalty owner interests etc. In […]
Regulatory Compliance for Pipeline Engineering Services
In rewriting the design support software,Entrance worked from the ground up to ensure that all the regulations were accounted for as design parameters. One particular improvement was enhancing the software’s capabilities in managing hazardous zones.
This more rigorous version of the design software helps ensure that all compliance issues are addressed during the design process, blocking solutions that would not comply. This results in less labor for the user, and reduces the time spent verifying that the specific set of compliance issues related to their solution have been resolved.
Regulatory Compliance and Effect Mitigation for Midstream Services
In rewriting the design support software, Entrance worked from the ground up to ensure that all the regulations were accounted for as design parameters. One particular improvement was enhancing the software’s capabilities in managing hazardous zones.
This more rigorous version of the design software helps ensure that all compliance issues are addressed during the design process, blocking solutions that would not comply. This results in less labor for the user, and reduces the time spent verifying that the specific set of compliance issues related to their solution have been resolved.
Safety Compliance for Midstream Services
Entrance created a tailored SharePoint environment that fits the client’s safety compliance needs. Each document is tagged with metadata that makes it findable upon search and allows it to be associated with
specific projects.
Compliance is scary. Why?
Compliance is a big word. For the next couple weeks we’ll be posting a series on compliance as a solvable information problem in Oil and Gas. Everything from safety, tax, engineering, contracts, to the environment requires a focus on compliance in the Oil and Gas industry. The field is complex, varied, ever-changing and yet usually forgotten until there’s […]
Tax Compliance for Pipeline Services
Entrance rewrote the code for a field ticket management solution that our client had sent overseas, which was not working out well.
As a response to their tax compliance needs, one module to the program calculates sales tax for each engagement based on which materials needed to be taxed, and if so, how much, based on the county or region.
This addition helps eliminate the risk of manual calculations that can leave stones unturned. It also makes tax management a markedly less tedious job to complete. Considering that taxes must be handled on an almost daily basis, the impact of easing that process has been huge.
Lease Compliance for Exploration and Production
Entrance created a compliance solution that pulls relevant information from across accounting, operations, legal and other departmental systems into a central database. Relevant data points, like SPUD, Rig Release and Completion dates, are gathered for each sensitivity case driven by lease provisions and implicit duties. SharePoint alerts, reports and workflows then drive compliance by notifying users of potential ways to prevent noncompliance from occurring.
Business Collaboration for Tax Compliance After Royalty Unbundling
Here at PDI, we just heard from Dennis Cameron of WPX Energy and Pam Williams of Shell, who spoke on the impact of federal unbundling on royalty compliance. As of April of 2012, unbundling audits have increased exponentially and remaining compliant with the changing set of rules has become time-consuming and nye impossible, because many of the […]
Lease Compliance a Sticking Point for Chesapeake Energy
Fuel Fix reported this week that there has been an uptick in natural gas prices the past few weeks- 20% to be exact. But companies involved in Shale drilling aren’t out of the woods yet, as prices are still down 18% compared to this time last year. We mentioned the legal struggles and reporting issues […]
Lease Compliance for E&P
With Shale lease agreements becoming ever more complex, and growing interest from lawyers looking for a pay day in the details of those agreements, our client needed to guarantee maintained compliance. The data required to be mindful of their compliance was trapped in silos across their organization. They needed a modern, integrated approach to understanding well status across departments in order to answer increasingly pressing regulatory questions. And they needed proactive warnings when provisions were in jeopardy and required action.
Nate Richards Speaks on Lease Compliance at Shale Conference
Nate Richards, President of Entrance, presented a case study on lease compliance at the conference, “Managing Regulatory and Legal Issues in Shale Plays” in Houston, Texas. Nate shared the innovative solution implemented for one shale E&P client. He explained how the platform allows proactive notification about lease compliance and is protecting key assets in multiple domestic shale plays from potential lease jeopardy by improving administration of common shale lease language. The case study included an explanation of industry drivers that are causing a new set of pressures on compliance.