Exploration and Production Companies.
Tract and formation-based system invaluable for lease management.
Having the system designed as a tract-based system rather than contract-based is invaluable for lease management. For example: We were buying leases in an area that was fairly HBP’d and as I was entering the title for the tracts, I would enter everything, even if the document referenced a tract that was not part of the subject tract. Yes, it took quite a bit longer because I was entering all the title data for a tract, but as I did this, I started to see quickly how most of the tracts held common title.
This actually decreased the overall time it took to enter the data, since once the data is entered and linked to the tracts, you can simply clone one tract’s chain of title into another tract. Furthermore, and this is why I entered all the data from a document even though some of it wasn’t on the subject tract, we ended up finding small pockets of open acreage that initially weren’t on our radar. Eventually we leased those tracts, and they are now slated for development this year.
The cost benefit/savings of iLandMan over the long term far outweigh the subscription cost so I absolutely recommend iLandMan whether you are a small or large company. While Paradox has yet to utilize their offer to enter/upload new acquisition data, the quotes I have received were minimal compared to bringing on new or temporary staff just to enter the data.
Scott Nowak, Land Manager
Paradox Resources – Houston, TX
Increased efficiency for larger projects without increasing staff size.
Before purchasing iLandMan, we were using a combination of Excel spreadsheets and Visual LandPro to maintain our leases. The core problem I was focusing on was the speed of entry of each lease into the system: the ability to have multiple users entering data, and then tying that data to our mapping system (ArcMap/GIS) to print maps based on custom reports.
A lot of our prior projects involved fewer leases than our current ones, so they covered smaller and more rural areas. Our more current projects cover a larger surface area and involve smaller lots. Through iLandMan we’re able to have multiple people enter the data, which has greatly increased our ability to keep the land data much more current. In the past we couldn’t even get accurate gross and net acre numbers because of the delay in getting the data entered. In addition, we had no way to tie that data to our existing mapping program and accounting program. iLandMan has increased our efficiency and provided us a way to maintain larger projects without increasing the size of our staff.
In terms of ROI, the metric we focus on is fairly simple: can we keep up with the number of leases and associated contracts that come in on a daily basis? The smaller the stack that needs to be entered, the better. Given the small size of our land staff, any efficiency is equated to faster data entry and more real-time, accurate land maps.
The cost to use iLandMan, in relation to the features it provides, is very reasonable compared to the other systems we reviewed. The best thing we have seen is the willingness of iLandMan’s programming group to listen to our suggestions and the ability to incorporate those suggestions into our system. When the system has not provided the ability to maintain data that we need or to generate the type of report we need, iLandMan has listened to our needs and made the necessary additions or changes our company has needed. It has allowed us to pivot as our needs evolve.
Joe Judd, Vice President of Land + Legal
PetroMax Operating – Garland, TX
$230,000 saved in two months through lease reductions.
The iLandMan technology is an invaluable strategic tool. Everyone from landmen to directors can “see” the scope and scale of our projects. This technology does for land what 3-D did for G&G; it is a technology leap. Earlier this year we could determine not only which leases we wanted to drop but also determine by mapping contract conditions, which leases allow us to partially release only the tracts outside of the new prospect area. Then we overlayed the new geology to show why. This is a great advantage in today’s market.
ORX Exploration – New Orleans, LA
Talon Oil and Gas III
Divesture due dilligence done in nearly half the time.
iLandMan allowed our buyer to complete the due diligence period of a divestiture in nearly half the time it took to close a similarly sized divestiture without the iLandMan software. The ability to generate numerous reports from the title database and quickly access images of recorded instruments is extremely valuable in terms of meeting critical deadlines and closing a deal rapidly when the courthouse is overcrowded.
Bradley Williams, Managing Member
Talon Oil and Gas III – Dallas, TX
MAI Oil Operations
A picture is worth a thousand words.
The mapping features of iLandMan allow us to see “the whole picture” of our current leaseholds, new areas of interest, and areas in which competing operators are leasing or have current production….a picture is worth a 1000 words and iLandMan is the best view going.
MAI Oil Operations – Dallas, TX
Increased land holdings four fold.
Since the adoption of iLandMan, Westward has increased land holdings four fold in one year, and the partners are managing double the activity. Now they can look at complete projects in a uniform manner. They have instant access to the smallest base detail, and can make informed evaluations on progress and costs. iLandMan is helping Westward manage to opportunity, instead of reacting to it.
Westward Energy – Albuquerque, NM