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The transition to a new reserves and petroleum economics software is not one that happens overnight—it’s a process. Like any process, there are several steps of careful planning that go into such a transition. You’ve likely already done (or are currently doing) research on what modern software best replaces your current processes and meet's your oil and gas company's needs. As you continue to weigh the pros and cons of transitioning out of legacy software or manual spreadsheets, here are some steps to consider before you adopt a new reserves and petroleum economics software.
Must-Know Steps Before Employing a New Reserves and Petroleum Economics Software
Part of your oil and gas company’s transition into a new reserves and petroleum economics software should be to create an implementation plan. This type of plan will have about six stages you must go through until you reach full software implementation.
- Success Criteria: At this stage, you’ll want to make a list of the capabilities and procedures brought about by a new reserves management software. If you don’t have existing benchmarks, you can neither set expectations nor measure their success.
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- Requirements Gathering: Here, you’ll need to determine what your company needs in order to implement your new reserves management solution. You’ll need to find answers to questions like: Can your computers handle the new petroleum economics software? Will it work with other software applications you’re already using? Can it adapt to your current business processes?
- Data Conversion: The information stored on your old reserves management system is invaluable to your organization. At this stage of the software implementation process, you’ll work with your software vendor to make sure that data is not lost. In this regard, your oil and gas software vendor should act as your partner for success.
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- System Configuration: After you’ve set your expectations and confirmed your hardware, now comes the part of actually installing your new reserves and petroleum economics software. At this stage, knowledgeable experts on your team as well as your software vendor team should work together to make sure each member of your business has proper permissions, controls, and workflows set up for their role in the company.
- Training: Once your software is in place, your next step is making sure your company’s team members know how to use the unified software and get the most out of it. When you work with the right software vendor, this step is easy and you’ll gain access to all of the support and training you’ll need across your entire company.
- Rollout and Ongoing Support: You’ve made it! It’s finally time to start using your new oil and gas reserves software. Inevitably, new issues are going to come up and your team will need additional training as it continues to learn to use the reserves management software. At this stage, it’s important that your software vendor continues to work with you, even after the sale and installation are complete. Before selecting a reserves and petroleum economics software vendor, make sure to ask if the company remains readily available throughout the use of the software.
- Project Conclusion: Implementation ends in a similar way as it began. Here, you return to review the project. Was it successful based on your predetermined benchmarks? What did you learn? What needs to change in light of that?
A Closer Look at How to Implement a New Reserves Petroleum Economics Software
These six steps are just a brief summary of each stage of the implementation process. If you’re interested in learning all of the details that each stage entails, you’ll want to check out our recent eBook, “How to Ensure a Successful Transition into a New Reserves System."
If you’re ready to begin the process of constructing your own implementation plan, we can help! At Omnira, we’ve been helping oil and gas companies in Canada and in the U.S. manage their petroleum reserves to make the best choices for their company and investors. We’d love to help you transition into a new reserves and petroleum economics software that works for the needs of your business. We make tailor-made implementation plans for our customers to ensure your unique needs are met. Even better, we walk with you every step of the way to ensure you get the most out of our software. Learn more when you schedule a personalized demo of our software, MOSAIC—the premier petroleum economics and reserves software for the oil and gas industry.