Land Tracking for Resource/Shale Plays
The Challenge
A large independent E&P company needs a way for their land department to rapidly acquire leases in a large resource play while maintaining a tight drilling schedule with multiple rigs under contract. The Land Department manages the whole process, from identifying landowner, mineral owners, and partners through the title opinion and title curative processes. The team needs line-of-sight clarity where each lease is in the process and must maintain a document trail through the life of the well. Land managers require a portfolio-level view to know the status of leases, including those at risk in the drilling schedule.
This E&P company is faced with a strongly competitive leasing environment and wants a solution to help them move faster in this situation. 3GiG delivers a solution to these needs.
The 3GiG Solution
3GiG’s Prospect Director provides a configuration to capture information about each lease and well on the rig schedule including:
- Lease mineral \ royalty owner
- Competitor Operations risk
- Lease ballot status
| - Title Opinions
- Title Curative
- Drilling status and production dates
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With this information, the land team can manage the lease acquisition process effectively. Each team member has access to the evergreen knowledge base and can upload and view supporting documents at any time, even when out of the office. Thus, the web-based technology improves collaboration and reduces organizational inefficiencies. Each well is tracked through a process manager so that every team member knows every well’s status. Reporting is automated and generated on demand as a lease moves through the acquisition process, reducing duplication of effort, data, and information for the land team. Land management and coordinating departments gain line-of-sight transparency into projects through Prospect Director’s configurable portfolio-view dashboards. Team members create and manage information through a series of stage-gates and are able to quality check title opinions, title curatives, and partner balloting using Prospect Director’s checklist manager. In the U.S., surface and mineral leasing is complex and has many roadblocks. Effectively maneuvering the leasing process provides a company with significant competitive advantage in fast-paced resource plays. 3GiG’s Prospect Director streamlines the process and helps large land acquisition teams collaborate more effectively to ensure that lease positions are obtained as rapidly as possible.