Double Eagle Maximizes Efficiency and Lowers Year-End Costs Through A Streamlined Workflow with ComboCurve
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Background
Double Eagle Energy Holdings IV, LLC is an operator based in Fort Worth, Texas, specializing in development and production across the Permian Basin. Double Eagle’s adoption of ComboCurve as its only tool eliminated several cumbersome and costly tasks associated with outdated workflows. Double Eagle now facilitates Reserves Management and A&D using ComboCurve, leveraging its capabilities to cut down on time and personnel requirements and reduce their year-end expenses.
The Challenge
Prior to implementing ComboCurve, Double Eagle encountered significant hurdles with legacy tools. Their complex and outdated interfaces led to operational bottlenecks and required manually updating production data due to the lack of direct connections with IHS Markit Ltd. Additionally, the tedious process of translating type curves into ARIES was time-consuming. Working with ARIES was complex, inefficient, and involved updating multiple databases and managing several moving parts, with the only alternative – and costly solution – being to hire additional super-user technicians.
Solution & Impact
Recognizing the limitations of their current tools, Double Eagle opted for ComboCurve, a more streamlined solution to manage their workload effectively and improve their reserves management and A&D evaluations. This decision eliminated the need for additional super-user techs and the use of multiple software solutions, ultimately enhancing efficiency, productivity, and cost savings.
ComboCurve streamlined Double Eagle’s workflows with its intuitive interface, simplifying tasks like PDP forecasting and type curve analysis for improved efficiency. This saved significant costs by eliminating the need for extra personnel and purchasing multiple software licenses while ensuring accurate data and facilitating seamless collaboration among team members. With real-time updates from multiple team members and smoother project handovers, Double Eagle was able to close on the best deals quickly and with more confidence.
Double Eagle's Return on Investment
Reduced Operational Costs
Eliminating the need for two more engineers – a super-user reservoir engineer and a tech, results in significant savings in labor costs. ComboCurve’s all-inclusive platform integrates the functionalities of other tools, incorporates pricing data and enables easy conversions (e.g. for banking), thereby reducing software licensing expenses.
Increased Efficiency
Streamlined workflows and integrated features of ComboCurve lead to time savings in tasks like PDP forecasting and type curve analysis, translating into increased productivity and reduced operational expenses.
Fast, Accurate Deal Evaluations
Faster decision-making processes facilitated by ComboCurve result in quicker asset evaluations, optimized deal closures, and Double Eagle’s improved reserve economics.