|Home » Solutions » Production Volume Management and Reporting|
Are you producing what you expected? Can you reconcile sales and wellhead volumes to allocated volumes? Are you comfortable Revenue Accounting’s volumes and asset revenues match produced volumes? Are you being paid the correct amount for your produced volumes? Are you still using spreadsheets to allocate production? And most importantly, are all these operations occurring in the most efficient and cost effective manner possible?
These are just a few of the issues NextGen Software can help you address through its Production Performance Information StrategySM. Optimizing Production and Operations business and data collection processes is required in today’s environment requiring closely managed Lease Operating Expenses (LOE or LOS). The benefits of such an approach include -Surveillance and Diagnostic reports incorporating estimated, actual, allocated, trended and forecasted production, combined with revenue and expenses to provide a complete view of an asset’s performance.
Insure decline curve and economic projections accuracy by comparing an asset's actual vs. forecasted performance during the critical Initial Production stage.
Consistent volumetric measurement and composition analysis policies and procedures.
Sarbanes-Oxley and AGA compliance through auditable and managed data throughout the production cycle.
Efficient Production Accounting for allocations and regulatory reporting.
Asset Life Cycle Management.
Near real-time Management dashboards identifying performance vs. forecasts, market conditions, and KPI measures.
Reduce asset downtime by automated notifications prior to development of shut-in situations.
Prevent catastrophic failures through real time monitoring against equipment thresholds
Minimize revenue loss during Preventative Maintenance cycles with proactive scheduling based on asset specifications.
Reduce nomination and imbalance penalties through accurate daily production projections.
Through the appropriate application of software applications and industry proven business process improvements, NextGen Software can help you achieve a more streamlined operating environment. By working with many software vendors NextGen Software can help you select the best applications for today and future needs.