Find out how PakEnergy Land helped Impact Energy meet its growth objectives and manage increasingly complex leaseholds with a lean, digitally enabled team.
Impact Energy Operating, LLC (Impact Energy) is a startup focused on acquiring proved, developed, and producing (PDP) assets. The operator selected PakEnergy’s “PakLand” software to digitally manage and rapidly access land files, improve owner relations, accelerate acquisition onboarding, and operate with a lean team.
By building a digital ecosystem early on, Impact Energy quickly established the automation and operational efficiencies needed to minimize G&A costs in the short-term while amplifying long-term business performance.
CHALLENGE
Landing on the Right Technology Partner
Drawing on their extensive experience at large producer companies, Impact Energy's founders identified the key criteria in their search for a land management solution:
- MODERN: Traditional land software packages needed to be installed and maintained in-house, adding to the cost and limiting innovation. Impact Energy wanted a cloud-based solution to ensure its business would always be running on the latest technology through the SaaS approach to continuous improvement.
- SCALABLE: Built on legacy technology, many land solutions cannot quickly onboard M&A assets, requiring staff to manually enter leases, wells, and ownership. Impact Energy wanted a solution that would seamlessly scale as it bolts on future acquisitions.
- AFFORDABLE: All too often, innovative software providers outgrow their customers and inevitably raise licensing, leaving critical solutions out of reach for smaller independents. Impact Energy set out to find a software provider who understands the vital role of America's independent producers by providing the affordable technology they need.
In addition to these key success criteria, Impact Energy wanted a solution that could be learned quickly and capable of efficiently organizing its vast volume of land files. This was critical to reduce the time needed to keep ownership up to date (e.g., property sale, inheritance) and eliminate the constant distraction of chasing down leases in physical filing rooms while responding to owner inquiries.
PakEnergy has been a good partner. They were our go-to choice for land management because of the ease of use and knowledgeable team who can step up to support us during acquisitions. We feel like PakEnergy really understands the needs of smaller independents like Impact Energy.
SOLUTION
Delivering Next Gen Land Management
Impact Energy selected PakLand which meets and exceeds its criteria for a modern, scalable, and cost-efficient land management solution. The operator reports that PakEnergy's core values differentiated it from other software vendors, including a clear understanding of the needs and budgets of smaller independents, who collectively produce more than the majors yet are largely underserved by technology providers.
As a SaaS solution, PakLand was rapidly setup and configured with Impact Energy's land assets, including agreements, units, wells, and interest owners. The solution provides centralized management of land information with pre-built acreage reporting that automatically calculates land KPIs such as acreage held by production.
The product also includes an eCalendar that tracks upcoming expirations and obligations.
PakLand provides robust land file management that ensures title opinions, division orders, and other documents are correctly linked to leases and wells. When onboarding acquisitions, users can simply drag and drop a large number of files into their web browser organized by land assets. Land files can then be rapidly searched or filtered by section, township and range.
Equipped with its new land management solution, Impact Energy also gains powerful owner relations tools, including the ability to manage requests and ownership changes from its large number of interest owners and log all inquiries made by phone, e-mail, or physical mail.
MEASURING SUCCESS
Operated Wells Easily Tracked
Working Interest Wells Tracked
Leases & Associated Land Files
Interest Owners Managed
Ownership Changes Made Per Year
RESULTS
Poised for Steady Growth
PakLand has set Impact Energy up to meet its growth objectives by enabling the operator to manage increasingly complex leaseholds with a lean, digitally enabled team. The foundation of its owner relations, Impact Energy relies on PakEnergy’s land management solution each day to simplify owner inquiries, enabling users to instantly access title opinions and division orders across documents related to 1,200 leases with just a few clicks. With more than 2,300 owners spanning 300 wells, the operator receives an average of five (5) requests each month to change ownership. The solution simplifies owner changes and allows staff to focus on high impact tasks.
As Impact Energy expands from Oklahoma into Wyoming and beyond, the complexity of obligations is increasing. PakLand's eCalendar feature will become an important tool to track delay rentals and other complex lease provisions as the company grows.
PakEnergy's experienced team of land professionals and outsourced owner relations call center support help Impact Energy scale without adding overhead. During its first large acquisition, PakEnergy assisted the operator in onboarding asset data so it could focus on operations during the critical transition, a strategy it plans to leverage for future deals.
ROADMAP
Integrating Land with Accounting and Production
Impact Energy's digital first strategy has led it to partner with PakEnergy not just for land management, but its financial and operational accounting as well. The operator relies on PakEnergy’s industry proven Accounting software to close each month by maintaining its general ledger and distributing revenue to interest owners. The SaaS accounting solution also enables Impact Energy to manage its large number of non-operated assets and joint interest billings with all accounting functions performed by a single staff member.
Managing its operations with a lean team is essential to Impact Energy's growth strategy, which is why the operator is focusing more effort into automating additional business processes across departments. A leader in business automation for the energy back office, PakEnergy is partnering with Impact Energy to seamlessly integrate land with accounting workflows to further accelerate the flow of information. As it grows, Impact Energy is also developing a digital transformation strategy for production operations for a complete lease-to-balance sheet solution that seamlessly links the field and back office.
