OIL AND GAS
Capital Tracking Report
Oil and Gas Capital Tracking Template
Fuse separate CAPEX tracking systems into one secure, transparent dashboard.
Accountants, planning teams, engineers and executives all require access to up to date capital spend information to analyze a project’s planned vs. actual cost. Velocity Insight creates customized reports for small to mid-sized oil and gas companies that combines the source information into one connected and real-time dashboard. These reports reduce the need for spreadsheets with stale data and offer transparency to key stakeholders across the company. The result is a tool that eases accounting pain points, streamlines accruals, and makes CAPEX spend reviews a breeze*.
Look, we can’t promise no yelling if you’re having to sidetrack for a third time or it’s week two on a fishing job with no end in sight, but we can at least make getting the data to have the CAPEX review a breeze.
Easily compare AFE’s, field cost estimates, and actual spend in a report customized for the oil and gas industry.
This sample capital tracking report created by Velocity Insight allows you to easily compare AFE with field estimates and actual spending. Although each set of numbers typically lives in different software, Velocity Insight can help you combine them into one report with up-to-date information.
Click through the report to try it out.
How does it work?
Velocity Insight is a data management and analytics consulting firm that helps move, store, QC, and visualize your data.
Our data experts work with your team to build on top of your existing tech stack, including:
- Bolo
- OGSys
- WellEZ
- Wellview
- AFENav
- ARIES
- and others.
By fusing data from several disparate systems, Velocity Insight can help you understand how much you are actually spending compared to your estimates. Each of our reports is customized to fit your exact needs. We’ll start with an example capital tracking report and modify it until it gives you the data most useful to you.
Benefits of a single capital tracking report
View big-picture data all the way through invoices
The Velocity Insight Capital Tracker dashboard template is designed to automatically update with your live accounting, field estimates and AFE data. The report gives your team the ability to see AFE vs. Actual vs. Field Estimate. With the drill-through capability you can easily see transaction details with a link to view that specific invoice.
Uncover and investigate field input errors
Each step is fully customizable to ensure that the dashboard brings you and your team the insights they need with just a few clicks. Our clients say that this dashboard provides clarity to easily uncover and investigate coding or field input errors as well as reduce the manual time crunch on lookbacks and reporting for each project and month end.
Align information between teams
Bring transparency and insights by combining data from individual systems used by your accounting, engineering, and management teams. One set of trustworthy data helps leadership evaluate current projects and plan for the future.
Easily filter and slice information
With a fully customizable report, you can view information by project type, campaign, pad, well, vendor, account code or any other property table metric.
Take the next step
01.
SCHEDULE AN EXPLORATORY CALL
Before working with Velocity, many of our clients never had accurate information comparing AFE to field estimates to actuals. Because the actual spending on many oil and gas wells happens months after the estimates are made and the tracking data lives in different systems, there are significant obstacles to making easy comparisons. The problem is if you don’t evaluate past spending, it’s difficult to improve your process for the future.
02.
We’ll Modify our Capital Tracker Template based on your software and needs.
With a customized report, your team can keep using the same software they are already using, saving you from a long drawn-out transition period.
03.
Your operations team gets the information they need.
The result is your operations team has the information about past capital improvement projects to help them avoid pitfalls and make better decisions in the future.
About Velocity Insight
Velocity Insight is a full-stack, full-function data management and analytics consulting firm. We’re not a software company – we help you get the most out of the tools you already pay for.
We combine three things to enable durable data transformations with our clients: deep O&G expertise, state-of-the-art tools, and real-world experience. With hard-earned oil and gas industry knowledge and experience digging in and implementing better processes, we have the trophies (and scars) to successfully meet our clients where they are.
Pricing
Since every company has its own nuances, we charge a low fixed fee for the template, then work with you to configure the template to your system. Fixed fees range from $20k to $100k based on company size, plus Time and Materials to customize for your environment. Reach out to start building a Scope of Work and get a full cost estimate!
Contact us today to start customizing a sample lease operating statement to fit your needs.
Learn more about working with templates through Velocity Insight.
