Pedernales Petroleum leverages proprietary technology and processes that integrate the multi-faceted aspects of oil and gas operations. Its technology platform combines financial, production, subsurface, and equipment data for in-depth analysis, well-by-well. Most important, the information is presented to every stakeholder and categorized by assets and investors.
“We place the right information in the right people’s hands quickly and routinely, so they can make the right decisions to keep operations running efficiently,” says David Grevelle, CEO, Pedernales Petroleum.
In addition to basing field operations on data-driven forecast capabilities that enable field personnel to act on informed decisions rather than assumptions, the company employs a knowledgeable engineering team to make sense of the data and revamp field operations. In parallel, it generates financial insights from field operations and expenses vs. the sales side.
The level of granularity in its field and operational data makes Pedernales Petroleum a sought-after player in its niche. It unlocks superior levels of proactive insights. For instance, when the oil prices fell to a historical low in the recent past, the company could easily predict and shut down the well operations that cost more than the returns on production daily. They were also able to make real-time decisions on making process changes to increase savings. On the other hand, in scenarios when oil prices rise erratically—as the industry has been witnessing in the last several months—the company can identify avenues for process improvement.
Pedernales Petroleum is also a complete in-house accounting services provider, delivering on aspects such as joint interest billing, audit management, royalty, and vendor payments.
We place the right information in the right people’s hands quickly and routinely, so they can make the right decisions to keep operations running efficiently
Other competencies of Pedernales Petroleum include its adeptness in lease operations (entailing reservoir, production and geological engineering, workover and exploration analysis, and vendor management), reviewing and negotiating transportation and marketing agreements, and maintaining marketing relationships for the best pricing. On the lease and land services front, the company undertakes title review and due diligence, contract and lease analysis, owner relations management, and land broker services. In addition to serving as the operator of a record, the company’s regulatory services include state or federal production reporting, filing and obtaining permits for, say, drilling, and full health, safety and environmental (HSE) services and reporting.
“Instead of being a company that merely tries to get a rate per hour, we look at how to make assets perform best, because we’ve done it as owner-operators,” states Grevelle.
In the wake of the oil and gas space witnessing massive consolidation efforts, the multi-pronged field operator benefits Pedernales Petroleum brings to the table are of immense value proposition today and in the future.