A View From the Prototypical Producer
As a result your CFO is able to focus on the priority of the firms relationships with the investment community and provide you with the financial resources necessary to fully develop your asset base. And it is your key competitive advantages of your land and asset base, and your earth science and engineering capabilities that you are able to dedicate your focus too. Due to the alignment of the compliance and governance frameworks with the Joint Operating Committees legal, financial, operational decision making, cultural, communication, innovation and strategic frameworks. Not only your organization, but your working interest partners are all focused on these competitive advantages. The conflicts and contradictions that were introduced by the old corporate model no longer exist and the speed, accountability and innovation that is as a result is surprising. You not only know of the innovation, you know who initiated the innovation.
The industry has exploded in terms of the research and development being undertaken in the earth science and engineering disciplines. Participation by your firm in many of these working groups and studies has been facilitated by the People, Ideas & Objects Partnership Accounting modules Work Order. This has enabled producers to work together to study various elements of the sciences involved in oil and gas. Participation in these groups are no longer the accounting nightmare they used to be as the focus on the partnership being the organizational construct is the way that the Preliminary Specification is structured. It is the Joint Operating Committee that is the key organizational construct of the innovative and profitable oil and gas producer. It is People, Ideas & Objects recognition of this that we are able to provide the Preliminary Specification. And as a result we are able to extend this organizational construct to the Work Order.
Another benefit that is not so obvious is that the compliance no longer drives the business. It is a result of the business. As the producer firm your concern is to the innovative and profitable pursuit of your key competitive advantages. Not the implementation of the appropriate Sarbanes Oxley compliance provisions, for example. Its not that these are no longer your concern, it’s that they are no longer your priority. The service providers have undertaken to provide these services on your behalf and have what they need in order to do so. It is their business to know intimately what the compliance requirements are. A benefit of the toolset of the division of labor and specialization. The service providers are specialized in their specific areas of expertise. And it will be the service providers who are able to implement the appropriate controls and methods in their process or the People, Ideas & Objects software in order to ensure your compliance. This division of labor is appropriate for the 21st century to ensure that the scope and scale of one organization does not become so broad as to become unfocused, untenable and unprofitable as the oil and gas producer of 2014 is.
The Preliminary Specification and user community provides the oil and gas producer with the most profitable means of oil and gas operations. People, Ideas & Objects Revenue Model specifies the means in which investors can participate in these user defined software developments. Users are welcome to join me here. Together we can begin to meet the future demands for energy. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here.