One of the most active departments in a corporate back office in the Upstream Oil and Gas industry is Division Orders. This is where leases and partnerships are transformed into Cost and Revenue accounting transactions. A Division of Interest (DOI) describes how working interest partners are sharing costs and how royalty owners will be paid.
It's also one of Grande Innovations greatest strengths. My background started with Oracle Corporation and later P2 Energy Solutions building and maintaining the ownership modules in Enterprise Upstream. As a consultant, I have experienced implementations, data conversions, and integration development with all of the leading platforms in the market.
DOIs are the lifeblood of a companies monthly processes. There are many challenges in maintaining silent period, prior period adjustments, and new setups during active drilling phases. Over time, I have gained a deep understanding of how different companies are solving, or working around, these problems. Keeping up with ownership changes is resource intensive and requires a high degree of inter-departmental coordination.
In 2014, we will be examining these challenges in greater detail and working with our technology partners to craft solutions that increase efficiency and decrease costs understanding ownership. Stay tuned!
If you work in Division Orders, what are your biggest challenges?
It's also one of Grande Innovations greatest strengths. My background started with Oracle Corporation and later P2 Energy Solutions building and maintaining the ownership modules in Enterprise Upstream. As a consultant, I have experienced implementations, data conversions, and integration development with all of the leading platforms in the market.
DOIs are the lifeblood of a companies monthly processes. There are many challenges in maintaining silent period, prior period adjustments, and new setups during active drilling phases. Over time, I have gained a deep understanding of how different companies are solving, or working around, these problems. Keeping up with ownership changes is resource intensive and requires a high degree of inter-departmental coordination.
In 2014, we will be examining these challenges in greater detail and working with our technology partners to craft solutions that increase efficiency and decrease costs understanding ownership. Stay tuned!
If you work in Division Orders, what are your biggest challenges?
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