Skip to main content
  • Search
    Close Search
  • Insights
  • Careers
  • Support
  • 1.800.873.9426
DataBank DataBank
Menu
  • Industries and Functions
    • Industries
      • Public Sector
      • Healthcare
      • Energy
      • Manufacturing
      • Financial Services
      • Retail
      • Insurance
      • Education
    • Functions
      • Logistics
      • Finance & Accounting
      • Human Capital Management
      • Mailroom
      • Fraud, Waste & Abuse
  • Services
    • Change Leadership
      • Process Improvement
      • Strategic Planning
      • Organizational Change Management
    • Data Intake
      • Document Scanning
      • Data Capture & Extraction
      • User-Facing Forms
    • Data Refinement
      • Data Structuring
      • Classification
      • Insight Mining
      • Content Intelligence
      • Data Migrations
      • System Integrations
    • Data Management
      • Content Services
      • Data Warehouses
      • Hosting
    • Data Activation
      • Workflow
      • Advanced Analytics
      • Business Intelligence
      • AI and Machine Learning
      • Robotic Process Automation
    • Technical Staffing
      • Systems Administration
      • Infrastructure Management
      • Help Desk-as-a-Service
      • Project Management
      • Program Management
      • Change Management
  • Use Cases
    • Interconnect Your Organization
    • Improve Cash Flow
    • Create Usable Structured Data
    • Consolidate Systems
    • Enable Sustainable Remote Work
    • Use Data for Decision-Making
    • Internal Process Adoption
    • Enhance Customer Experience
    • Eliminate Paper Processes
  • Partner Network
    • Hyland
    • Nintex
    • KnowledgeLake
    • Eco-Mail
    • Esker
    • Kyocera
    • iTreatMD
    • Digitech
    • DocuSign
    • Microsoft 365/SharePoint
    • Bottomline
    • Amazon Web Services (AWS)
    • Azure
  • About
    • Why DataBank
      • Our Process
      • Industry Experts
      • Support
      • Security
    • Locations
      • Corporate Locations
      • Data Management Centers
      • Remote Communities
    • Culture
      • Our People
      • Core Values
  • The DataBank Cloud
    • Comprehensive Features
      • Flexible Hosting for OnBase
      • Monitoring & Maintenance
      • Managed Infrastructure
      • Dedicated Cloud Team
      • All-In Pricing
    • Cloud Security
    • Your Roadmap to the Cloud
  • Connect With An Expert
DataBank
Close

Four Benefits to Digitizing Oil & Gas Land Records

By Charles Bass, Enterprise Account Executive

June 29, 2022

Energy , Insights , Article , Data Intake , Data Management , Eliminate Paper Processes

Share  

View All Insights

For energy companies, competition for assets is fierce. Buyers expect to be able to compare deals online, and you may still be spending hours sifting through data buried in paper. With the high frequency of buying and selling, who has that kind of time?

 

Not only is the market fast-moving and competitive, but buyers want to be able to make informed decisions. If your land records aren’t digitized, you may be unnecessarily extending the amount of time to attract buyers and sell. This is a missed opportunity when there are tons of services that help you eliminate paper processes and modernize the way you capture and manage your land records.

 

COVID-19 has made this shift even more important. In a recent EY Oil and Gas Digital Transformation survey, 58% of respondents felt the pandemic has made investing in digital transformation more urgent while prices are low and focusing on operational efficiencies has become a priority. Of those that responded, 29% plan to invest a great deal into new technologies and 51%, a moderate amount.

 

Here’s how to stay ahead of the competition with higher quality information and a single source of truth for your land data.

Young electrical engineer woman and business man standing in front of wind turbines checking and working about technical problems and writes the results of measurements with laptop pc in wind power plant electric energy station. xxxl size taken with canon 5d mIV

Simplify land management

If not for anyone else, do it for you, your team, and your organization. When records and information are spread across paper, it makes access difficult. Everyone needs access to search, export, and review information on your asset at any time. Having a single source of truth enables accessibility, organization and is much more efficient than digging through paper.

 

Utilize data scanning and capture services that integrate with your current land management system or software. These advanced data capture services can digitize data from multiple sources and select the most important and relevant information you want to keep.

 

 

Easier online approvals

There are already enough steps in the land management process. When quality data is readily available, you’ll see approvals move much faster. This includes contract approvals, distribution, workflow, and addendum. Give your asset management team the data they need, at the right time, to perform their jobs with confidence and move you along to the next step.

 

Build trust with buyers and owners through improved data quality

 

Once data is accessed digitally and is flowing seamlessly throughout your systems, you’ll not only see improved contractual agreement workflow, but also division orders and investor relations. You create value for your interested parties by eliminating errors associated with manual processes and having information that is of quality and is complete.

 

 

Speed up the process of asset acquisition and asset divestiture

Finally, when you have digital records, you increase property value. When you don’t have your land records in order, this could have costly and even legal implications.

 

 

Conclusion

Digitizing paper files and consolidating already digital files into a reliable source helps the entire organization have the proper data to make proper business decisions. It’s really that simple. It not only enables your workforce but also improves your working relationships with investors and reduces operational costs.

 

Previous Post

Next Post

See more Article insights

The Hidden Dangers of DIY Upgrades

Your investment in IT isn’t an area where you want to cut corners.

READ BLOG.
Manufacturing Supply Chain Automation Will Make You More Resilient

Supply chains are under pressure to find ways to decrease costs while increasing productivity and improving quality.

Read Blog.
Web Portal Solutions: What Today’s Connected Citizens Expect from Government

Government web portals have expanded capabilities helping transform the way they work internally and how they deliver services to stakeholders.

Read Blog.
Purging The Paper – How Your Health System Can Reach HIMSS Stage 7

Ebonye White, Client Engagement Manager, talks about her past experiences in helping health systems tackle HIMSS Stage 7 requirement: no more paper in patient charts.

Read Blog.
Get the latest DataBank insights directly in your inbox.
Subscribe to our blog
1.800.873.9426
  • The Debrief by DataBank
  • Privacy Policy

© 2022 DataBank

Warning!

You are using an outdated browser. Things may not appear as intended. We recommend updating your browser to the latest version.

Close