What if we told you that you could increase the value of your acquisitions and divestitures process by 30% by streamlining your processes? Do we have your attention yet?
A Vital Business Strategy
There’s no bones about it; a solid acquisitions and divestitures strategy contributes to a resilient energy company. A&D activity plays an integral role in maintaining balance in the ever-changing oil and gas landscape. Even with its importance, however, oil and gas property transactions are a lengthy and complex process, one that can be even further drawn out if the necessary data is hidden or lost in unfindable formats. So, how do you set up a winning A&D process? There’s two sides to every transaction, and success looks different depending on your seat.
Separate Transactions, Separate Problems
As a seller, there’s serious pressure to maximize the value of the asset you’re selling. To leverage its worth, assets need to be transaction-ready. When there’s interest to buy, it’s immediate, and if you’re having to dig through paper or digital files for crucial pieces of property information, you’re losing dollars in real time.
From the buyer’s end, consolidating each piece of relevant documentation can be a tedious (and even painful) task. Newly acquired asset information needs to be shared inter-departmentally and is especially pressing when establishing that the purchase was sound. If the asset you just bought is coming with unstructured data, that internal vetting process can be drawn out for months – leaving your team with a headache and lengthy to-do list.
The Ongoing Solution
If your company is like Merit Energy, these transactions aren’t isolated events – they’re frequent and a significant piece of their business model. Thanks to a restructured and streamlined acquisitions process, they’ve saved their team months of waiting to integrate important data when a new asset is acquired, (and their team doesn’t even touch the paperwork.) Streamlining Merit’s acquisition process required a clear understanding of their business needs and oil and gas-specific requirements. Now, Merit can simply complete the steps to acquire on their end, and then hand off all of the data associated with the acquisitions to a digital processing center where it’s securely scanned and sent back to their team in an indexed, usable way.
Should an asset come in with data already digitally scanned, but not organized or digestible, those files are easily converted to a source compatible with Merit’s already established data management system. Everything is securely accessible, viewable, and transparent and will only increase the value of the asset, should the company ever decide to sell.
Beyond the initial challenge of converting paper documents into digital formats, lies the equally crucial task of structuring and organizing these digital assets for optimal accessibility and usability. This process ensures that valuable information isn’t just archived but becomes a valuable resource that drives informed decision-making and operational efficiency. Databank’s Content Intelligence services efficiently address this need, offering the expertise and technology needed to transform raw or unstructured data into intelligently structured and actionable insights.
Check out the full story on Merit Energy, and shoot us a buzz to start making your processes (and life) easier today.