New Oil and Gas Data Management Software Updates for 2020

Omnira Software

MOSAIC has always sought to provide the best tools for proper analysis of investments in developing oil and gas properties. With our 2020 oil and gas data management software update, we have made even further strides towards providing you with the best software to understand the key economic drivers that are critical to the success of your business. Here are all the new features, as recapped in our March webinar.

2020 MOSAIC Oil and Gas Data Management Software Updates 

Composite Workbench Improvements

You need to be able to analyze your data to generate information that helps you make informed decisions on your investments. In addition to our advanced search functions, MOSAIC’s 2020 update now allows for the creation of custom, calculated fields with the specific variables you choose. This is yet another way our oil and gas data management software continues to provide flexible options for viewing data.

Multi-Edit Forecast Options

One of the most crucial uses of data is how it is used to model your forecast production and cash flow. With so many variables, it can be overly-complicated to adjust forecasts when updates are made to entities. In our 2020 update, we’ve simplified this process. New multi-edit actions allow for quick copying of forecasts from one category to the next and sources can be modified with ease.

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Type Curve Contributor Data and Selections

The wells used to create a type curve provide different attributes that are important to understand in the creation process. Wouldn’t it be convenient, then, if you could add custom data columns to your workbench in order to analyze the variety of attributes more critically? We thought so, too! That’s why our update gives you the tools to group specific criteria such as lateral length, fracture stage count, etc. to create additional groups and filters so you can more accurately represent what future well performance will look like in the resulting type curve.

Enhanced Contingent Resource Classification and Category Logic

Modeling the estimated resource volumes combined with existing reserves gives your company the whole picture on the potential value of your organization. We understand the importance of assessing and managing this information and MOSAIC has offered functionality to support those requirements for years. The new MOSAIC 2020 update contains the ability to calculate and characterize incremental volumes between resource categories to give you more flexibility and allow for full PRMS compliance and reporting. All resource volumes can also be reconciled using MOSAIC's Rapid Reconciliation automated process. No other software in the industry offers this capability.

Additional Administrative Features

When data needs to be reevaluated or has no economic results, you need to know about it! That is why our 2020 update includes a warning just for when such instances occur. And, as an added bonus, this can be done directly from the hierarchy without needing to load-in additional data into the workbench. This helps with reconciliation, approvals, and reporting.

Capital Breakdown

Mosaic now allows you to schedule capital as a volume-based cost to make it easier to account for maintenance dollars. This feature simplifies data input and improves input efficiency and the quality of results. In addition, individual capital types can be set up in Rapid Reconciliation to give a more granular understanding of the impact of capital timing shifts and changes to the amount spent when reconciling for reserves or budget purposes.

Additional Tax Calculations

Taxes and royalties can be a burden to calculate, especially when you have resources in both Canada and the United States with varying tax laws for local jurisdictions. To make this easier, we now have features that allow you to sort capital by different classes. Additionally, our new tax calculator ensures you have properly accounted for the various taxes and royalties tied to the capital requirements for each well.

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MOSAIC’s 2020 oil and gas data management software update was crafted to service our customers and their needs. It’s yet another reason MOSAIC is the premier petroleum economics and reserves software that professionals, like you, are using to keep themselves informed and prepared for whatever new challenges arise. For a video breakdown of all this, check out the 2020 webinar for yourself and see all the great new features available to you in MOSAIC.