POP Statement Automation
One of the least known aspects of the oil industry is the absolute efficient use of hydrocarbons. Every molecule of the hydrocarbon is used and therefore has some intrinsic value. This is no more obvious than in the operational efficiencies of gas plants in their treatment of the wellhead gas stream. But, with the absolute efficiency generated by the chemical makeup of the gas stream, comes a need to handle all the data streams generated by the gas plants. If you have ever had to deal with a Percent Of Proceeds (POP) statement, you understand the delicate balance between the value of the data and the cost to extract that information. This is mainly due to the ubiquitous of PDFs to report the data to the operators.
PDF Scraping
BOE's PDF scraping capabilities are unsurpassed in the oil industry, with over 10 years experience. Having cut our teeth with Non-Operated Drilling reports for APC, we have amassed a great amount of experience in PDF scraping. BOE's scraping procedure includes a full API to perform checks and validations on the data prior to creating an XML file for use in the automation process.
To date, we have build POP templates for Agave, Artesia, Copano, Crestwood, DCP, Delaware Basin, Enable, EnlinkBridgeport, Enterprise, Frontier, Markwest, Oneok, Ozona, Quorum, Sendero, Waterfield, and WestTexasGas.
Canopy and Taxonomy
Using Canopy as our automation engine, the entire process is automated, from receiving an email to deciphering who the operator is to applying the correct template to uploading the data into a normalized database, with every step of the way audited with appropriate notifications based on predetermined rules for each process.
At the heart of the system is the Canopy Taxonomy engine, which allows a user to describe an incoming PDF, either through a filename or contents of the PDF file.
Unlocking the Data in your PDFs
Complete Automation
Leverage Normalized Data
Percent of Proceeds Data Model
In order to maximize the use of the data scraped from the POP statements, the data is loaded into a POP Data Model that describes the normalized data from the POP statements. The model holds detailed information on contracts, meters, meter statements, fee, gas anlaysis, gas lift, liquids, and residue. Data in the POP Database can be used to run reports or integrate into other systems within the organization, e.g. marketing, production, and accounting.
Unleash the Value in your POP Statements
Connect your POP data for enhanced value
With the data successfully scraped from the POP statement and stored in a database, you are now able to unleash the value hidden in the statements. The following issues are identified frequently in the monthly cycle.
A. Calibration Errors
Are you sure that the meters on each end of the transaction have been calibrated correctly? Connecting the POP data to your production gathering system, e.g. ProCount will validate that the data entering the plant is accurate.
B. Calculation Errors
Oftentimes, the very simple calculations in the POP statement are incorrect. In the example above, the Net Delivered Gas multiplied by the GPM amount for each component must equal the Basis Quantity.
C. Contractual Issues
With contracts changing from time to time, it is very important to make sure the correct prices are being used to calculate the Net Proceeds. Connecting the POP data to your marketing system, e,g, EMK3 will help ensure that prices are current and accurate.
D. Reconciliation
Perhaps the most aspect of the monthly POP statement cycle is the need to reconcile the amount to be received against the check you receive from the plant. Connecting the POP data to your accounting system will flag any discrepancies.