Uplift on the Hunt with ComboCurve: Using Speed to Compete on Deals
Industry : Reserves Auditor
Solution : ComboCore
See how your team can go from forecast to economics in minutes with energy’s fastest analysis engine.
Survival on the African savannas requires competitiveness. For the lion, it means hunting as a pack. If one lion misses, another is there to take a swipe. For solitary hunters like the cheetah, speed is essential, but accuracy is also required for the hunt to succeed. This same skill set can be applied to competition for oil and gas in the semi-arid Permian. Some companies go on the hunt for properties like a pride of lions, using their size as a team to stalk and process their prey when found. Other companies depend on speed. Speed of the hunt, and speed of the execution.
In this blog, we examine how Uplift Energy Partners is leveraging its ability to execute quickly by using the ComboCurve platform to evaluate its opportunities even more rapidly. And what it means for a small company to be competitive and hunt with the big guys now.
Starting Out
As a new company on the hunt for opportunities, Uplift Energy Partners knew that its first challenge in gaining valuable assets would be finding opportunities worth evaluating. That means reviewing hundreds of millions of dollars in valuations to identify oil-weighted and gas-weighted opportunities across work areas in advantageous locations with favorable asset characteristics. Success means identifying and sorting properties with upward potential, then moving quickly on them to beat the competition. That’s not so easy for a lean team, however, and the process can take weeks or even months to complete using the traditional method.
The Tortoise Vs ComboCurve
Performing valuations of new wells in the traditional method required manually entering data into an Excel spreadsheet, reviewing and correcting entry errors, and then setting up evaluation parameters to enable a valuation. This can be very tedious and time-consuming, both characteristics that Uplift cannot abide if it wants to compete with other companies that have more resources to invoke. They knew they needed a tool or service that would help them move from identifying a property to confidently submitting a deal without draining their limited resources and energy. They needed ComboCurve. Their co-investor was already a ComboCurve user, so the team met with Uplift to discuss how ComboCurve could help.
One, Two, Go
The team at Uplift was already familiar with the system from prior experience at other companies, so they were up and running even faster than most new users. They quickly leveraged the simplified process of performing a complete analysis, allowing them to focus more on results than simply on the inputs. From bringing in raw data to forecasting metrics such as operating expenses, shrink yield, and drilling schedules, Uplift appreciated that they could make faster decisions on potential opportunities, enabling them to get in early. The ability to transfer these datasets to their co-investors’ ComboCurve account enabled them to share the rationale for their valuations, allowing them to bid and move to execution quickly if they won.
Confidence is Smooth, Smooth is Fast
Ultimately, what ComboCurve provides to Uplift is the ability to leverage its speed as a lean organization with a supportive co-investor. They take pride in taking ownership of the entire development process, leveraging decades-long networks of trusted people to be there when work begins. That level of speed in decision-making and execution means they can take on any organization and be confident in their ability to perform. The ComboCurve streamline process gives them the confidence to compete with other companies and trust that their research and speed will help them win the day and meet underwriting metrics.
As Daniel Camper, CEO of Uplift Energy Partners, put it, “ ComboCurve allows us to move at a pace that keeps us competitive.” That competitiveness helps Uplift secure wins and build trust by delivering returns to its investors.
And when returns to investors matter most, the fastest and most accurate team wins.