How to Make Your Budget Go Further
To modernize workflows is to have the ability for plug-and-play resources that are available however and whenever needed. The presented assertion is that the same qualified, capable, and experienced land professionals who were displaced during the previous industry downturn are able and currently available to contribute their services on a contract or consulting basis. There are numerous benefits to both parties:
- For the contractor — they have the opportunity to apply their skills and services to multiple clients, and thereby have multiple engagements and possibilities for new experiences and contacts.
- For the employer utilizing the service — when third-party groups are used, work can often be billed to a well or prospect, saving the general and administrative line item of the company budget.
What Land Operations Can Be Outsourced?
When contemplating which services can effectively be outsourced, the following list is comprehensive, but not exhaustive:
- Acquisition evaluation
- Agreement negotiation and execution
- Agreement analyses and summaries
- Artificial intelligence introduction and implementation
- Asset development
- Broker and vendor management
- Data clean-up
- Divestiture marketing
- Drilling and unit well preparation
- GIS services
- Land software evaluation and implementation
- Leasehold strategies, trades, and execution
- Non-operated well proposals
- Net revenue interest strategies
- Operational support
- Process and workflow efficiencies
- Transactional
Intelligent Land Operations
Based on our experience working with multiple organizations, large and small, we developed Intelligent Land Operations — a framework of six steps that lay out what land departments need to be doing to evolve and survive while maintaining low G&A. It will challenge you to think differently about how common key functions have been performed and provide ideas to create the most value for investors and stakeholders in any environment.