Everything You Wanted To Know About Oil Acquisition Software
Every company in the business oil and gas will look to be better than its competitors, by seeking to gain a competitive advantage. Petroleum exploration is one such business where being in an advantageous position means the more investors, more profits. Using strong land management software in the process of land acquisition gives an edge to the oil and gas exploration company. The company stays organized and moves quickly in its decisions related to oil acquisition. A few points that form the core to this process should be understood.
Land management is handled in two ways: lease administration and lease acquisition. These two types of software are different from each other. The software that deals with land acquisition is concerned with getting the leases signed by the authorized signatory as quickly as reasonably possible. Three things that lease acquisition deals with are communication features, pre-lease workflow, and lease status tracking. Communication features are an important aspect of lease acquisition as they have to be end-user friendly. The end-user uses communication to express their views into the software in the process of oil acquisition. This meaningful software is difficult to find as it is not always readily available. The engineers putting together this software often focus on design rather than workflow, interaction or aesthetics.
The software that is latest in the industry focuses more deeply on the end-user experience. Lease, tract and lesser communication is presented in a way that can be scanned quickly to view what the company’s leasing agents and title landsmen are working on. This gives them the chance to take quick decisions in the event of an opportunity or disaster.
A successful leasing operation usually has a well defined workflow. Any company leasing out thousands of acres will normally have people working with them knowing their roles very precisely and specifically. Each person in the company knows what their responsibilities are, and this is a major composition of a successful leasing company. The lease buyers, landsmen, analysts, general administrative staff, finance department and others have a clear view of what they are to deliver in the process. Security in the workflow is an important aspect to ensure the end-users are viewing what is limited to their role in the process.
Lease offer letters, counter offers, lease ratifications, lease amendments, lease memorandums, mineral ownership reports, lease purchase reports are among some very important types of documents that are generated during the process. If these documents are based on database data and stored properly, then it can ease the volume of effort taken to generate them, and save valuable time as well. Leasehold maps and reports have always played a critical role in this process. Lease acquisition becomes a relatively easier task with leasehold maps and reports as they assess the company’s position and helps them take quick decisions.