Oil and Gas Audit Services: Streamlining Workflows

Oil and gas audit services play a pivotal and complex role in energy.

Auditors evaluate reserves to understand and corroborate an energy company’s portfolio to ensure development plans align with SEC guidelines. As a result, it’s crucial to ensure technical accuracy and sufficient supporting evidence, full stop. Your goal is to turn technical insights into actionable decisions, and ComboCurve can help you do that better than any other tool on the market.

Let’s see why.

Smoother Collaboration in Oil and Gas Audit Services

It goes without saying oil and gas audit services are not a solo endeavor. You collaborate with engineers, geologists, and other technical experts. This exchange of information, ideas, and insights is the foundation for accurate and reliable evaluations. Sadly, reliable evaluations are brutal in legacy software like ARIES and PHDwin.

With traditional tools, your oil and gas audit services workflow often looks like this:

1. You have a deadline tomorrow morning. 
2. You’re waiting for a colleague to deliver their work so you can use it to finish your analysis.
3. They try to send it in an email. 
4. Email bounces. 
5. You login to a data share site to download the file and pray it’s in a usable format. 
6. Your prayers are not answered and you have to do 3 hours of tedious work cleaning and reformatting the data in Excel before you can begin your work. 
7. You’re now 6 hours through the day and only 3 hours into your work. 
8. The client asked for updates on the report so you worked like mad for the last 2 hours. 
9. You still have several hours of work remaining to finalize the report. The only way to deliver on time is to work late. 
10. The work is stuck on your computer at the office, so you can’t leave the office until it’s done.
11. You miss your kid’s championship baseball game because you have to stay late. 
12. Rinse & Repeat.

No one wants to miss their kid’s baseball game. It might seem like we are cherry-picking overly emotional examples, but this story is all too typical. It’s impossible to move at 21st Century speeds on 20th Century technology.

With ComboCurve, you go from 12 steps and countless hours to 3 clicks and a few seconds. Your colleagues can even load your work into their system in just a few clicks with reusable Share Codes that perfectly duplicate your data in their accounts.

Removing Stress Oil and Gas Audit Services

What if you could view all your oil and gas audit services clients’ data in one place? You could tag projects with attributes like the year of reserves, client names, or unique project tags to organize and navigate through the data. Setting up economic scenarios (“Combos”), archiving projects, or maintaining company-wide forecasts would be a breeze. Without ComboCurve, you have to move data between at least 2, if not 3 or more, software packages. With ComboCurve, all your work is in one place on one platform you can access from anywhere with an internet connection. You’re not chained to the desk anymore!

The time wasted finding and moving data is a big problem. Equally, if not more frustrating, is the stress and carpel tunnel syndrome that comes with repetitive rote work. If you deal with the same wells for different clients or want to pull price decks, economic assumptions, and forecasts from various projects without hopping between software, ComboCurve is the answer.

Get Evergreen Public Data Forecasts

When you evaluate a company’s reserves, you often need to pull from a public database to verify well selections. Legacy tools make this process tiresome. However, when you pair ComboCurve’s ComboCore with ComboSync, you can automatically pull public data into your environments. Rather than logging in and manually merging and cleaning data, ComboSync’s integrations put all of your data at your fingertips at all times.

The result? You leave manual data imports and database conversions behind. You effortlessly sync all necessary public data and even convert specific databases on the fly to perform your analysis. Don’t just save time in oil and gas audit services; bring accuracy, speed, and cohesion to your workflow.

This all sounds wonderful, but, specifically, what can you accomplish with ComboCurve?

Configurable Auto-Forecasts

Welcoming a new client? You can swiftly set a baseline forecast before the review. Auto-forecasting not only saves time but ensures that you start on a firm foundation.

Proximity Forecast

With Proximity v3, you can effectively corroborate PDP forecasts using analogous offset wells. Create auditable type curves that bring transparency to your workflow and foster trust with clients.

Manual Forecast

Want to double-check ComboCurve’s work? No problem. You always retain the ability to manually edit curves, offering flexibility and precision in your forecasting. Rapidly apply type curves with automatic normalization and eliminate exports to manipulate data before importing it back into your project.

Mass Type Curves

You can utilize offset wells from other projects, allowing for mass-type curves that significantly strengthen your ability to analyze and understand your reserves. It’s a message that bears repeating for anyone performing oil and gas audit services. The days of juggling between multiple software packages to create a type curve are over. ComboCurve’s robust normalization techniques have SPEE guidelines baked into the formula.

What does this mean for you as a Reserves Auditor? You can create type curves more easily and more efficiently. There’s no need to build “dummy” cases to compare against in-house type curves. Those cumbersome steps are things of the past. Now, type curves are handled separately within the same system, making them incredibly easy to apply to future locations. Now you can remove friction, add fluidity, and focus on what truly matters without getting bogged down in unnecessary complexities.

Diagnostics

Easily review changes clients made to auditor forecasts from last year. Save precious time by analyzing which wells are off-trend. Run a swift PDP variance for Client vs. Auditor to identify the wells with the largest variance. Get oil and gas audit services insights faster and make more informed decisions.

Schedule

Harness the power of ComboCurve to make realistic schedules and link economics to specific dates. You can update or import client schedules with a simple copy/paste mechanism. Now you can make scheduling a painless, even enjoyable, part of your day.

Economic Scenarios – “Combos”

Run and compare up to 10 different economic scenarios (“Combos”) at once. Keep previous work in Combos to compare Year-over-Year changes to reserve reports. Additionally, you can pull industry-standard future strip pricing (NYMEX/HenryHub) into embedded lookup tables to automatically update your models. This gives you the flexibility and depth to examine deals from every angle before advising your oil and gas audit services clients on next steps.

Custom Oil and Gas Audit Services

With ComboCurve, forecasting new client baselines, creating auditable type curves, justifying economic evaluations, and diagnosing well variances have never been more accessible for Reserves Auditors. With tools designed to meet your specific needs, you have the ability to make accurate, fast, and robust decisions that align with client requirements. The future of oil and gas audit services is dynamic, precise, and tailored to your workflow.

If you are ready to step into that future, reach out to our sales team today.