During a merger, getting data integration right the first time is key to success.
Our client is a privately owned, Houston based oil and gas exploration and production company.
After completing a merger with another E&P company, our client discovered that although they both used ProCount as their production accounting system, they were not reporting well data in the same way.
As an example, only some of the wells had actual monthly volumes recorded. The discrepancy made it impossible to do an apples to apples comparison between the two systems, because importing data from one
ProCount instance to another would result in information gaps. Accurate decisions could not be made based on incomplete reports.
Entrance was engaged in an exercise to improve decisions with better data. The process began with a cross-department analysis of the well portfolios against both company’s databases to determine commonalities between naming conventions and data fields.
We then standardized discrepancies in the data, for example, making the sum of a particular well’s daily volume and its reported monthly volume match up. Consistent data reporting across both companies was critical to the future success of the merger.
We also updated a tool that they used to load in production from non-operated properties automatically into ProCount so that the acquired company’s non-operated properties would also be included. This helped achieve the critical goal of tracking the newly merged company’s full portfolio.
Entrance continues working to solve problems that came up during the analysis of this project to solve accounting errors that incorrectly recorded division of interest for well decks. The project helped our client to finish merging data systems quickly, with a minimum loss of well data.
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