Dashboards: The Changing Face of Oil & Gas Reporting

3/1/2016 (PRESS RELEASE JET) -- Reports are a necessity for anyone in a management position, Land Manger, VP of Land, CEO – but usually what a manager wants from a report is one or two numbers from the bottom line of the report; and usually they need a half dozen different reports to get all the answers they want.  This is where dashboards come in.  “Dashboard” is more than a buzzword; it is the newest tool in effectively managing your leasehold.  A dashboard normalizes data from your entire land database to give you quick access to totals and summaries that answer questions without requiring a user to see the background data.  One of the greatest things about dashboards is that it is not required that someone be managing your land for you to create them.  Data can be sent to or “hooked into” by a Dashboard Specialist for creation and updating, allowing for current and accurate management level reporting without the need of staffing such a specialist.

If a company is evaluating lease expirations some employees will need a list of every single lease expiring, and the HBP status of every tract on each lease, along with individual bonus information – but board members and executives only need to know a few key pieces of information, such as how much is at risk, which acreage has an option to extend, how much does not need to be paid on because it is HBP, what the average cost per acre to extend is, and the progress of securing the at-risk acres.  Having this limited information provided in an attractive and accessible manner changes the way the land department is viewed, from being data entry personnel trying to provide reports to being the vital team members that provide answers and solve problems.  We know that land is such a vital component of oil and gas exploration and production, and it needs to be presented in a way that emphasizes that vitality while progressing the mission of the company.

Some users like to have a dashboard in a PDF so that all they need is that one sheet, they can send it on as needed, and get updates as available.  Other users like dashboards in Excel because it allows for some viewing of the background data that went into creating the dashboard, making details available on an as-needed basis.  And still more people are enjoying dashboards online, making it very easy to access their land data from anywhere, anytime, without needing to deal with a “data entry” interface, just the final product, the bottom line.

If you need dashboards for your organization then you need to call the Dashboard Specialists at Pettigrew & Pettigrew Land Services at 281-465-0276 or email info@pandplandservice.com.  Pettigrew & Pettigrew can utilize data in your own land database, spreadsheet reports, and/or accounting records to create informative and dynamic dashboards for your company regardless of the land system being used or who is managing the land data.