As an oil & gas producer, you rely on multiple types of software to run your business, from revenue and expense tracking to production and economics. The problem with all of these point solutions is that they don’t play well together. In fact, you might have a dozen or more pieces of software that have different vintages (when they were coded) and built with disparate technologies (what programming language was used). This is all well and good for one workflow – say economics using PHDWin – however, if you want to use your forecasts and decline curve analyses elsewhere, you’ll have to shuffle data around. And if you want to pool multiple data sources together for cross-functional reporting, it can take days just to create one static report. Data silos get in the way.
The True Cost of Information Sprawl
At the bottom of an industry downturn is when your team needs answers, fast. Insights into which of your properties are profitable with a certain price deck and the ability to interrogate your data for cost savings are critical. But just creating a lease operating statement (LOS) draws on data from multiple disciplines – land, production, accounting – which means different software systems and isolated databases.
For decades, the standard solution for creating real-time, cross-functional reporting was to warehouse your data. That entails extensive extraction, transformation, and loading (ETL) processes to grab data from systems of record and plug it into a centralized database (also known as a data mart or warehouse). Such projects are time-consuming, expensive, and brittle (difficult to add or change something). But if you’re in the middle of a global pandemic with urgent questions that need solid answers, do you really want to warehouse your data?
Information sprawl costs your company big. It prevents a clear view of asset performance, increases your G&A costs, and delay timely decision-making. Not to mention opportunity costs. But data silos are here to stay and those who can tap directly into the information landscape will thrive.
Breaking Down Information Barriers
Like a shale reservoir, your valuable data is trapped. Origo oil & gas financial reporting is your frac job. Rather than moving data around, Origo virtually integrates scattered sources of oil & gas data into a single, holistic view. Using pre-built connectors for leading commercial software packages, Origo enables cost-effective and real-time creation of LOS and many other types of reporting.
Origo currently connects to the following data sources, including structured and unstructured data and SCADA systems.
- Open Invoice
Origo is data agnostic. It can access commercial and proprietary data sources, software databases and data warehouses. With Origo, your team can quickly produce a free flow of insights and get answers faster, improving business agility and cash flow.