Optimum transformed a complex acquisition process for a leading oil and gas company, achieving a 95% reduction in errors and streamlining data management through automation.

About the Client

The client is a privately held oil and gas company focused on acquiring strategic leasehold, mineral, and royalty positions across Texas, New Mexico, and Louisiana, with a primary emphasis on the Permian Basin. They manage a high volume of acquisitions, making efficient data management and accurate reporting essential to their operations.

Business Challenges

The client faced significant challenges in managing complex acquisition processes for natural resources, which were largely manual and prone to errors:

Cumbersome Data Management: The existing system, utilizing Laserfiche and Power BI, was not cloud-based, making data difficult to edit, access, and maintain efficiently. Limited control over form fields and dropdowns led to frequent data inconsistencies.
High Error Rate: Up to 60% of data in Mineral Purchase Reports (MPR) required corrections post-entry due to manual calculations and inconsistencies, resulting in time-consuming rework and undermining data reliability.
Lack of Automation: The absence of automated workflows and standardized processes created additional workload, hindered timely approvals, and increased the risk of errors across the acquisition process.

These issues highlighted the need for a robust solution to enhance data accuracy, streamline workflows, and reduce the reliance on manual intervention.

Optimum’s Involvement

Optimum conducted an in-depth assessment of the client’s acquisition process, identifying key pain points and designing a future-state solution to address their unique challenges:

Process Mapping and System Redesign
Optimum conducted extensive process mapping and user story development to fully understand the client’s requirements. The team designed a centralized, cloud-based acquisition management system to consolidate and standardize data entry, creating a foundation for accurate, accessible data.
Workflow Automation
Automated approval workflows and streamlined calculations were introduced to eliminate manual intervention, reducing the time and effort needed to manage acquisitions. Key automation steps ensured a reduction in errors and a more reliable data flow.
Role-Based Views
Optimum created tailored views for different roles within the organization while maintaining a consolidated management dashboard. This provided staff at all levels with relevant information and simplified navigation across the system.
Comprehensive Training and Documentation
Optimum provided end-user training to facilitate smooth adoption and efficient use of the new system. Detailed documentation was provided to guide users through best practices, ensuring consistency and ease of use across teams.

Project Outcomes and Benefits

The restructuring of the acquisition management system delivered substantial improvements in accuracy, efficiency, and operational capacity:

Optimum’s streamlined acquisition management solution delivered significant operational enhancements for the client, allowing them to manage acquisitions more efficiently and accurately:

95% Reduction in Errors: Automated workflows and data validation protocols nearly eliminated manual data errors, reducing post-entry corrections and ensuring reliable Mineral Purchase Reports.
Accelerated Approval Process: Automated approvals significantly decreased processing time, enabling faster, more efficient acquisition cycles and freeing up resources for higher-value tasks.
Enhanced Data Consistency and Reporting: Improved control over form fields and dropdowns resulted in standardized data entry, enabling consistent reporting and more accurate, accessible data.
Increased Operational Capacity: By optimizing workflows, the client managed more acquisitions without adding to their workforce, achieving time and cost savings across operations.
Successful System Adoption: Comprehensive training equipped users to maximize the system’s benefits, ensuring lasting value from the new, cloud-based acquisition platform.

This solution has empowered the client to streamline operations, significantly reduce errors, and scale their acquisition processes, positioning them for sustainable growth in a competitive sector.

About Optimum

Optimum is an award-winning, nationally recognized IT consulting firm serving clients across multiple industries in the US and Canada. We specialize in helping organizations enhance efficiency, overcome project management challenges, and achieve digital transformation through strategic planning, innovative technologies, and streamlined PMO processes.

We offer a comprehensive range of project management solutions and services, including Smartsheet Consulting, Systems Integration, Business Process Optimization and Automation, Business Intelligence (BI), Custom Application Development, and Staff Augmentation.

Reach out today for a complimentary discovery session, and let’s explore the best solutions for your needs!

Reducing Errors by 95% and Boosting Efficiency by Streamlining Acquisition Management for Oil & Gas Company