OVERVIEW
Oil & Gas (O&G) well operators can greatly improve operational efficiencies across the full value chain by streamlining their royalty payment and Joint Interest Billings ("JIB") processes. The current approach to maintaining high levels of O&G production data, tracking & disseminating information can be paper-driven, labor intensive, and result in multiple friction points and high processing costs.
Blockchain technologies streamlining transactions is viewed as a game changer that can enhance efficiencies, drive profitability, and unlock new value from oil & gas resources by eliminating time-consuming and labor-intensive processes. NuArca, voted as IBM’s New Partner of the Year 2019, has pioneered the PipelineDL™ Distributed Ledger platform.
Streamlining the O&G Back Office Functions
PipelineDL™ leverages the power of blockchain technology to provide a unified source of truth for all members of the value chain. Through the PipelineDL™ portal, an oil or gas company can record the production and sales volume, and price from the well and issue division orders which interest owners then confirm. Based on that division order, a smart contract is established on the distributed ledger which records transactions and executes payments according to the terms. Therefore, filling out, sending, and tracking individual paper check payments becomes a thing of the past! In this webinar we will also show the JIB functionality and how PipelineDL uses blockchain distributed ledger to send JIBs to working interest owners.
In this webinar, Chris and JB of NuArca will discuss issues such as:-
What is PipelineDL™ and what specific functions does it perform? What is its ecosystem? What are its limitations? What is the level of transaction security?
What value does blockchain technology add to the data collection, royalty payment, and expense processes? Why is a distributed, shared ledger important?
How does PipelineDL™ streamline the O&G back office functions?
What advantages accrue to the well operators? Other stakeholders?
Learn how PipelineDL™ is an alternative to accessing production revenue and expense data
Case Study – Operators, Mineral Managers and Mineral Owners
Learn about findings from a pilot that has included Operators, Working Interest Owners and mineral owners. Learn about efficiencies that have arisen from processing royalties and distributing production statements from the Operator to partners and owners.
Join us to hear how the PipelineDL™ platform uses blockchain technology to help the upstream ecosystem drive significant reductions in the cost of owner relations, royalty payment process and an improvement in the overall experience across stakeholders.
Attendees can ask questions during the Q&A session of the webinar.
PRESENTERS & PANELISTS
Christopher H. Smith | EVP Business Development | NuArca
Chris has over 25 years of experience in the oil and gas industry including leading oil and gas acquisitions, operations and information/software systems for multiple leading organizations. With extensive experience and relationships in the energy industry, Chris is leading the charge to build operator, partner, private banking, and trust services relationships.
JB Sloan | EVP of Product Management | NuArca
JB is the EVP of Product Management for Enterprise, SAAS, and installed products. He has extensive experience working with developers and corporations creating real world solutions on Blockchain. With over 10 years of experience managing the software development lifecycle, he has worked closely with companies around the world to plan and implement enterprise software applications.
John Jansing | Managing Director | Factory Pond Energy Investments
As the President of Factory Pond Minerals, John oversees the business including current mineral rights ownership and the investments in new oil and gas opportunities.
John Evans | Moderator, Q&A Administrator | Krishnan & Associates