More Informed Decisions
Efficiently answer questions about how and why reserves change while providing useful information for corporate benchmarking.
- How close were the projected parameters to the actual parameters?
- How and why do reserves change from year to year?
- How realistic probable and possible reserve estimates were by tracking their migration into proved?
- Do established acquisition and drilling programs adequately replace sales production?
Automate reconciliations using a standardized methodology to provide results that are trackable from year-to-year, and repeatable from user-to-user.
With unsurpassed flexibility, RMS meets a variety of reporting challenges in a single run.
- Track up to twelve different reconciliation bases simultaneously.
- Track any number of change factors simultaneously.
- Track any number of economic or pricing scenarios within the same project.
- Reconcile changes at the individual well level or at any hierarchy you define.
- Aggregate multiple change categories together for different reporting venues such as SEC, DOE, or internal management.
- Pull in reserves data and forecasts from multiple PHDWin projects into a single SQL database.
- Create a Corporate Reporting Archive for use by engineers and managers alike. Reports can be saved along with information such as the user who created it, timestamp, sort and filters applied, etc.
- Stored report output for multiple economic scenarios and ownership sets decreases wait time and eases the reporting process.
- Roll-up reports to any summary hierarchy you define within PHDRMS.
- Automate a number of reporting requirements including SEC reserve disclosures, DOE EIA-23, CSA NI-5101, CPR, internal management and lending institutions.
- Load reconciliation data directly into RIGS for EIA-23 compatibility. Find and apply EIA-style codes (i.e. field codes) directly in PHDRMS using a simple search, drag and drop interface.
Consistency in reconciliation is key. Assign rights and privileges to all users as part of a role created by the administrator.
- Roles can be defined by a variety of functions including creating projects, creating reports, editing change categories, linking cases, viewing documents, deleting, etc.
- Submit documents to the PHDRMS system, and associate those documents with the entire project, a project event, or any single case in the project. Documents are fully searchable within PHDRMS and can be viewed or printed on demand. Available plug-in will time and date stamp documents as they go in for SOX Compliancy.