The oil and gas industry is continuing to undergo optimizations and advancements, largely driven by technology. Among these, cloud-based solutions are increasingly vital, particularly in the realm of mineral management. These mineral management platforms are revolutionizing how mineral owners track, manage, and optimize their assets.
Real-Time Data Access Anywhere, Anytime
In today’s fast-paced market, the ability to access data in real-time from anywhere in the world is not just a convenience—it’s a necessity. Valor’s proprietary mineral management platform software, mineral.tech®, strived to be ahead of the game and was developed over five years ago. While it is continually updated and evolving, at its core it allows clients to access their mineral interest data 24/7, anywhere in the world. This capability ensures that Valor’s team and clients are always informed and can react promptly to changes in the market, operational conditions or flag inconsistencies and errors regarding payment.
Holistic Portfolio Management
Cloud-based platforms like mineral.tech® offer a comprehensive view of a company on individuals mineral assets. Stakeholders can obtain a holistic understanding of their portfolios, which facilitates more strategic decision-making. The mineral management platforms ability to drill down into detailed views of interests, tracts, units, and wells provides a granularity that was difficult to achieve with traditional management systems or outdated paper maps and paper filing systems. This level of detail is crucial for thorough asset management and strategic planning.
Tracking and Analysis
One of the most significant advantages of using a cloud-based mineral management system is the capability to track and analyze various financial aspects. Clients can monitor monthly revenue streams from working interests, lease operating expenses (LOE), and royalty revenue. Such tracking ensures that all financial records are up-to-date and accurate, aiding in better financial planning and compliance with regulatory requirements.
Benefits to Stakeholders
While we know it can be daunting to leave old ways of mineral management in the past, the transition to cloud-based solutions offers numerous benefits:
- Efficiency Improvements: Automating data collection and processing reduces the need for manual entry, decreasing the likelihood of errors and increasing operational efficiency.
- Scalability: Cloud platforms can be easily scaled up or down based on the needs of the individual or business, allowing for flexibility as interests owned and managed expand or contract.
- Enhanced Security: Advanced security measures and data backups are standard features of reputable cloud-based solutions, such as mineral.tech®, ensuring that critical business data is protected against loss and hacking. Valor is proud to have achieved both a SOC 1 Type 1 and Type 2 audit and certification, further instilling confidence in our clients that their data and financial information are secure.
The shift towards cloud-based mineral management programs such as mineral.tech® is indicative of broader trends within the oil and gas industry toward digitization and operational efficiency. By adopting these modern technologies, companies not only streamline their operations but also gain strategic advantages in a competitive marketplace. This move is not just about keeping up with technology—it’s about staying ahead in a rapidly evolving industry.
By embracing cloud-based systems, the mineral management sector is setting a new standard for efficiency and strategic management, ensuring mineral owners and managers can make the most informed decisions for their financial and operational success.
Contact Valor Today
Contact us today to learn more about our mineral management platform solutions.
The information provided by Valor in this blog is for general informational purposes only, not to provide specific recommendations or legal or tax-related advice. The blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
