Pitfalls of Using Oil & Gas Lease Management Software for Acquisition Data Onboarding

by Ben Parker | December 3, 2019

Acquiring oil & gas assets? Your team needs to rapidly make sense of thousands of land records and well files so you can assess a deal’s potential and move fast to acquire acreage. Even after a deal closes, you’ll need to onboard boxes and boxes of physical records that contain the critical lease and other asset data your land and operations team need today.

Acquisition Paper Problem, Too Big for Oil & Gas Lease Management Software

As part of your acquisition due diligence, your team must rapidly understand asset value as well as risks. All too often, this daunting task begins with physical records. It can take weeks to even assemble the right data for analysis, delaying the A&D process, in which time economics can shift or the competition can move in.

Consider an acquisition involving 2,100 leases. That could translate to half a million lease pages – title opinions, memorandums, assignments, pooling clauses, and a host of other provision data elements, shipped to you in hundreds of boxes. But getting all that data into your oil & gas lease management software or production accounting system is like drinking from a fire hose.

Whether pre-acquisition or post-acquisition, your team needs to extract dozens of valuable elements per lease in order to leverage lease data in daily workflows. Click on the brochure below for a sample of land data elements that E&Ps are integrating using Grooper. 

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So, what does the solution to the acquisition paper problem look like?


Grooper Oil and Gas Acquisition Data Onboarding

Accelerating Oil & Gas Acquisition Data Onboarding

What if you could take a truckload of unstructured acquisition data and documents and transform it into structured data ready for analysis in just a few days?  That’s what Grooper does.  Grooper is a turnkey document digitization and data extraction solution that combines services – like pickup and bulk scanning of documents – with the category leading smart data extraction product that is capable of recognizing an API number, Mother Hubbard clause, and royalty rate.

If you are frustrated with the limitations of your oil & gas lease management software, Grooper is the most efficient method for importing physical data so your land and legal staff can get to work with the data they need faster than ever. Grooper automates the acquisition data onboarding process using natural language processing and a deep understanding of oil & gas content.

As a service, our team of enterprise content managers will bulk process and backfill acquisition data into your oil & gas lease management software, general ledger, or other systems for reporting and analysis.  As a product, Grooper becomes a part of your lease analysts' workflow, empowering them with tools for scanning and rapidly extracting lease information on an ongoing basis.

For more information about the oil & gas land and lease data elements that Grooper can intelligently recognize and extract, download our list of data elements.



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