Customer Stories
Resource-intensive analysis of remaining inventory
Medallion faced barriers in forecasting and planning for future growth because their analysis process was time consuming, sometimes taking weeks to complete. The process involved manually estimating remaining inventory and calculating decline curves.
Their limited access to comprehensive data and analytics hindered their ability to answer critical questions about customers, acreage blocks and well performance. This lack of streamlined, automated data analytics created longer lead times in making informed, strategic decisions with regards to customer comparisons, break-even costs and well performance. Removing these data-driven roadblocks was crucial for Medallion as it allowed the company to expedite the strategic planning process.
Forecasting without the guesswork
Facing challenges with forecasting, Medallion turned to Enverus solutions for transformative results. Enverus Forecast Analytics uses pre-generated forecasts and economics to assess customer well performance, evaluate deals and existing assets, playing a pivotal role in addressing Medallion’s challenges related to type curves. Previously relying on time-consuming manual calculations, Medallion now efficiently analyzes historical well data and obtains full decline curves with a simple click. This streamlined approach eliminates guesswork and empowers the team to make data driven decisions in this specialized domain, fueling an efficient, focused strategy.
Optimized inventory analysis
Medallion is committed to enhance their inventory evaluation with Enverus Placed Well Analytics, a solution that accelerates their ability to assess and monitor undeveloped inventory within an operator position. This goal involves conducting a thorough inventory analysis of all customers and dedicated acres to determine remaining wells and estimate years left based on current drilling activity. Placed Well Analytics plays a pivotal role in efficiently handling this task because it enables Medallion to swiftly benchmark operator inventory counts, assess the impact of changing spacing on remaining inventory and quantify the upside potential of any deal evaluation. This empowers Medallion to optimize their asset portfolio and make informed capital decisions.
Efficient, scalable analysis across different teams
Initially utilized by the business development and finance teams, Enverus solutions are now being expanded to additional departments within Medallion. This expansion aims to enhance data-driven decision making across the organization. Specific uses within different teams, such as well locations, pad clearing and land-related insights, are also being explored, demonstrating the versatility and applicability of Enverus solutions in various aspects of Medallion’s operations.
Data-backed strategies to drive success
By utilizing Enverus solutions to streamline their forecasting and inventory estimation analysis, Medallion experienced improved accuracy and significant time savings. This empowered the team to make more informed strategic decisions and provides the ability to assess well performance at a more refined level. The break-even cost information offered by Enverus further enabled long-term planning decisions, including pipeline expansions based on profitability and lower break-even costs in specific areas.
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