Oil and Gas Software and Solutions

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J. Scott Lockhart
J. Scott Lockhart, CEO

 

“P2 solutions address critical business challenges including how to increase free cash flow, reduce finding and development costs and grow netback margins.”

All upstream oil and gas organizations strive to be execution-driven, to get oil and gas out of the ground and to market efficiently and profitably. Upstream professionals want to make fast decisions based on reliable data, backed up by robust systems, but getting it isn’t easy. No vendor is better equipped than P2 Energy Solutions to help upstream organizations navigate today’s challenging environment.

P2 exists to arm people with the right tools to get the job done and solve big problems. They closely collaborate with customers to understand how change is impacting upstream business, and to identify what’s most important to drive business performance. They help customers maximize the value of their assets by helping them optimize production quality and control costs. P2 solutions address critical business challenges including how to increase free cash flow, reduce finding and development costs and grow netback margins. P2 serves oil and gas companies worldwide.

Their software and data solutions reach across the upstream organization, from the back office to the field. Their customer base totals more than 1,700 customers who rely on P2 to support billions of transactions across hundreds of thousands of wells. P2 solutions cover important upstream domains: Production solutions, finance and accounting, land management and geospatial data.

P2’s accounting software helps upstream oil and gas companies achieve greater value from increasingly complex assets. Their solutions are tailored to a company’s size, location, and business needs. Whether a small startup, a large super major, or of any size in between, P2 can put the right tools in their hands to tackle evolving industry challenges. Upstream oil and gas organizations must meticulously record, track, distribute, and report sales of oil, gas, and other products. Accurate and timely oil and gas revenue accounting requires tracking complex contracts and owner lease agreements and is made increasingly difficult by new challenges such as horizontal drilling. P2 supports the needs of oil and gas revenue accounting by providing the flexibility to track multiple ownership arrangements on a single division of interest.

Land management is a crucial link in the upstream value chain. Why? Because the health of every exploration and production organization depends on it. When done well, companies prosper and grow. When done poorly, companies run into snags and fall behind. Landmen must move quickly during lease-acquisition phases if they want to secure the best leases in the best exploration areas. The lease-acquisition process in its traditional form is slow and tedious, though. The P2 Land-P2 Land Broker duo solves this challenge by slashing lease-cycle times from months to hours. When high-dollar investments are at stake, every decision made in the Land department must be sound. But when gleaning information from paper reports and spreadsheets is a team’s way of doing things, it’s easy to overlook critical details and make costly mistakes. P2 Land’s interactive map cracks the code of this challenge by displaying real-time information in an easily consumable way.

P2 Energy Solutions empowers the people who power the world. Upstream oil and gas professionals from more than 1,700 companies around the globe rely on P2’s oil and gas accounting, data, land, production, and reserves technology and solutions to optimize their business processes and performance.