Field Service Land How an integratedAccounting oil and gas platform can transform your business Production eBook Defining the Problem Reduced efficiency and operational effectiveness These issues are not a surprise to anyone in the industry. For years, those Oil and gas companies of all sizes have long used software that supportsworking in oil and gas have lodged a litany of complaints: operations in oil and gas, including accounting, land management, production, • Lack of coordination between land, regulatory and accounting and field service management (FSM).groups • Manual processes that take three times as long as they should • Inability to compare all entities within a company However, one of the biggest challenges companies face with these solutions• Lack of business intelligence that could easily show data from all is that most of them are designed to serve only one function – or only a limited production areas in one view. number of functions. They lack integration, and as a result they isolate data Collectively, these comments paint a clear picture of disconnected streams in ways that hinder efficiency and profitability.systems leading to significant inefficiencies. Working around the problemThey also reflect the fact that oil and gas companies that use multiple types of software have a hard time transferring their data from one medium to another. Some users respond by The lack of integration has created a world of workarounds. Some users opt defaulting to manual data entry, others may add even more to manually enter the same data twice or more, depending on how technology, deploying yet another type of digital tool to process their data into more transferable formats, which many types of software they’re using to crunch all the numbers. adds time, complexity, and another potential point of failure Others choose to develop procedures and algorithms to the process. that reconfigure their data into formats that are transferrable. However, both approaches have As a result, the transfer of information to executives,managers, and key personnel who need it for decision- drawbacks. They create opportunities for error, making, trend identification, problem anticipation, and slow down processes, and force oil and gasresource optimization slows down and is fraught with the companies to either hire more people to potential for error. The longer it takes for them to access the data, the more likely company operations are to support manual tasks or reallocate existingbecome bogged down. In turn, if operations become resources that might be more productiveless data-driven and more reactive, they will act as elsewhere. a drag on competitiveness and responsiveness tomarket changes. Eliminating gaps Connecting the oil and gas ecosystemAccounting, land management, production, and field service management are A connected ecosystem would bring separate software functions together all linked, but frequently, separate software platforms manage data for each, under a single unified platform, which means: and efficiency suffers. • Accounting, land management, production, and FSM tasks arecombined under a single umbrella to function as a company’s central For example, with access to FSM data, accounting teams would have an easier nervous system. time managing invoices and monitoring the profitability of wells, pipelines, and • Information flows in real-time flow to create a single source of accurate other individual assets. They could also use land management information to data, eliminating the need for manual data transfers and fostering ensure that lease payments are made on schedule. Likewise, access to FSM collaboration and accounting data could help land management teams ensure that royalty • Workflows are streamlined, data accuracy is improved, and duplication payments stay in line with actual production rates, and that required obligations of efforts is eliminated. are met. Real-time access to all of these data streams would put company leaders in a better position to monitor financial and operational performance,Additionally, an integrated system also provides a more holistic view of plan for the future, and respond to unexpected developments. company operations – especially if it incorporates a business intelligence(BI) function with dashboards that make it easier for staff at all levels to If operators had a connected ecosystem that facilitated seamless data flow, access and understand expert-level analytics. gaps could be eliminated and efficiency expanded. What should an integrated platform do?To be truly transformative, an integrated platform must address industry challenges and drive improvements across operations. To do this, an integrated platform should: Centralize data and information management Facilitate sharing and data access across Improve operational efficiency and communication A truly integrated platform consolidates operational, departmentsBoost efficiency by improving communication between the financial, and technical data into one system, eliminating The right platform eliminates the barriers field and the back office. Integrating field volumes captured silos and making information easier to access. Fieldthat prevent or complicate the sharing directly from the well site with financial and contractual operators, managers, and executives have access to near of data, providing transparency anddata managed by accounting reduces double entry, frees up real-time data, enabling decisions to be made faster andpreventing miscommunication and delay. staff, and ensures data integrity. Critical production issues with greater confidence. can be addressed faster to optimize resource allocation. T R A N S F O R M YO U R B U S I N E S S W W W.W E N E R G Y S O F T W A R E . C O M Enhance the decision-making process Expand to meet changing needs Boost financial performance and reduce costs Integrated data provides the analytics Beyond addressing a company’s current An integrated platform should be capable of optimizing financial necessary to compile the businessneeds, the right integrated platformoperations and reducing costs through automation, streamlined intelligence oil and gas companies need for should be agile, flexible, and scalable workflows, and data-driven decision-making. It should consolidate a comprehensive view of all aspects of the enough to support growth and evolution software licensing, maintenance, and management costs by eliminating business.as its needs change.the need for multiple vendors. And it should eliminate redundant data entry while also optimizing resource allocation, ultimately lowering operational overhead. Delivering an integrated oil and gas platform with all of these capabilities – and making it attractive enough to overcome institutional inertia that can make it seem easier to keep using existing, cumbersome systems than make a change – may seem like a tall order. But the right integrated platform exists and can save money, improve efficiency, help streamline decision-making, and ultimately, boost the bottom line. New platform, transformative benefitsW Energy’s new unified platform, Stream+, has features that have the potential to deliver business transformation now and grow with your organization well into the future. The Stream+ platform offers: Cross-sector applicability: Stream+ serves both upstream and Unified system: Stream+ links a company’s accounting, landmidstream companies, as well as combined operators active in both management, production, and FSM business units. It integratessectors. It is versatile enough to streamline workflows and enhance traditionally siloed functions into a single system, eliminatingperformance across diverse business models. data gaps and improving collaboration for a holistic business view. T R A N S F O R M YO U R B U S I N E S S W W W.W E N E R G Y S O F T W A R E . C O M Scalability and modularity: Stream+ can grow along with its users. ItsOil-and-gas-specific functionality: Stream+ incorporates purpose-scalable and modular design approach allows for growth and flexible built features that address unique oil and gas requirements, includingadoption of new features as companies evolve. It offers a “pay-as-but not limited to specialized accounting systems, batch processing,you-grow” model that allows smaller companies to start out with core and regulatory compliance support.modules and then add additional features as needed. Enterprises areable to add acquisitions with greater ease.Technical advantages: Stream+ leverages W Energy’s private cloud, optimized with an infrastructure designed to seamlessly integrate with both internal and external applications. This approach ensures flexibility, scalability, and extensibility, allowing us to deliver significant benefits to our customers. Benefits of W Energy’s Private Cloud Improved customer experienceEnhanced performance Oil and gas specific functionality Enhanced security• Faster response times for a • Superior speed and stability. • Custom capabilities such as • Protection for sensitive data more efficient user experience. • A robust architecture batch processing Specialized such as production volumes and• Enhanced platform capabilitiesdesigned to handle thebusiness logic for regulatory andlease agreements with role- and quicker delivery of new demands of upstream and tax reporting, land management, based access controls, reducing features and integrations.midstream operations of field service management the risk of unauthorized accessany size. and operations, division order and data breaches. management, and revenue and • Minimized vulnerabilities cost accounting. associated with maintaining multiple disconnected systems and data transfer points. T R A N S F O R M YO U R B U S I N E S S W W W.W E N E R G Y S O F T W A R E . C O M DataView for business intelligence and insight Unique to the industry, proprietary business intelligence (BI) capabilities are built into Stream+. DataView provides BI andDataViewTM analytics tools that enable data visualization and provide new perspectives on company performance. Users can expect: Faster time to insight: Standard reports andCustomizable reports: With the flexibility of Actionable insights: DataView pulls data from all embedded dashboards mean less time spent on embedded PowerBI, users can tailor reports to areas of your operations, from asset performance manual data aggregation and more time acting on meet specific needs, ensuring organizational to financial health. Get a holistic view of insights. adaptability. organizational performance that fosters strategicdecision-making. More than just bringing accounting, production, FSM, and land management together under the same interface, Stream+ provides new perspectives on the information that can help drive growth and profit. ConclusionTechnology has done a great deal to improve performance and profitability in the oil and gas sector. However, the disparate software systems used by many upstream and midstream operators create information silos that fuel inefficiency and the potential for error. An integrated oil and gas platform solves these problems and more. Centralized information is available quickly, easily, and to a wide range of stakeholders, operations are optimized, costs are reduced, and companies become more competitive. This is especially true in the volatile oil and gas sector. In the face of fluctuating prices and evolving regulatory requirements, oil and gas companies that can demonstrate agility, streamline their workflows, make data-driven decisions, and optimize their resources will have crucial advantages. An integrated software platform provides a path toward securing those advantages. Contact W Energy for more information about how Stream+ can boost your company’s operational efficiency, improve decision-making, and support sustainable growth. T R A N S F O R M YO U R B U S I N E S S W W W.W E N E R G Y S O F T W A R E . C O M To see W Energy’s Stream+ platform in action, get a demo. © 2 0 2 5 W E N E R GY W W W.W E N E R G Y S O F T W A R E . C O M