Crucial tools for keeping track of your well count and all the business information attached to them.

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Maybe you’re old fashioned and your company is off the grid. That’s commendable. But you could be doing so much better if you were on the grid.

What are we getting at? Are we talking about the same grid? Maybe not.

We’re referring to Synergy’s Matrix solution suite. For a large or growing oil and gas company they are crucial tools for keeping track of your well count and all the business information attached to them.

Put simply, the Matrix solution involves two things:
  • a simple-cross check of your company’s systems, similar to the technology that allows you to scan your computer for viruses (except it looks for assets, namely wells);
  • a basic visualization of what it finds.
This solution literally provides a picture of where your wells are in each of your systems. That’s where the grid reference comes in. After Synergy runs a check on your systems, it displays where the wells exist and where they don’t in the form of a grid similar to a spreadsheet. Automatically you see where the data in your departments’ systems does not look so consistent.

What’s in it for you? Well, money. Any well that is missing from your Financial Accounting system is revenue slipping out of your company’s grasp. Any erroneous percentages from a joint-venture project could entail missing royalties. Any misaligned well hierarchies could be monkeywrenching your budget forecasts.

Synergy gets the job done in a fraction of the time it takes to manually cross-check systems for the same information. It’s high tech. Like science fiction. Except it’s right now.

And what’s with the name? Matrix sounds better than grid. Calling it a matrix conjures up images of Keanu Reeves plugged into a high tech dentist’s chair, but it’s not like that. I mean, we don’t want to spoil it for you either. You can imagine a tiny, little Keanu Reaves shooting through your network cables, running around in your company’s computers, taking data inventories, and strangling errors. Sure. Whatever works for you. We really don’t want to burst your imagination bubble. And it makes us look a lot cooler, especially if you imagine GuildOne staff dressed in those leather bodysuits from The Matrix posters. We won’t deny you that.

But we do have an obligation to give you straight answers on what Synergy does for its clients with its Matrix solution. Each provides valuable insight into company data health, but when they are used together they give a complete picture of how a company’s assets are performing. So let us have a look at GuildOne’s top matrices.

Matrix Solutions

UWI Matrix
With day to day data shuffle wells sometimes get lost in the books. The UWI Matrix compares wells from all company systems and flags where UWIs are missing or mislabeled. Lost wells equal lost revenue and inaccurate well counts equal poor decisions.
DOI Matrix
Working interest percentages from a single joint ventures can vary throughout a company's systems. Those mistakes can result in lost revenue. With one simple view, this solution highlights any discrepancies.
Well Hierarchy Matrix
If well hierarchies are out of sync between company departments then financial reporting standards may not be met. Synergy establishes a master hierarchy reference point and then makes sure that every system matches that reference point.
Well Status Matrix
Bad data can cause a company to lose track of whether a well is active, inactive, or not completed. Synergy analyzes company systems for all wells and shows how they are listed in all critical company systems.

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Top Stories

The Matrix, Incorporated.

April 28, 2011 Solutions Spotlight Andrea LaPlume

Crucial tools for keeping track of your well count and all the business information attached to them.

About GuildOne
Headquartered in Calgary, GuildOne has been helping oil and gas companies improve performance through better access to consistent, accurate data since 2001.
Synergy by GuildOne
GuildOne’s Synergy business software helps companies integrate data, strengthen business processes, and gain the insight they need to make profitable decisions.
Synergy Community
GuildOne’s customer-based community of practice continually enhances Synergy functionality and develops best-practice solutions that speed implementation and enhance performance for all customers.