Respondents noted a need for more clarity around how imbalances are captured/managed and best practices for interactions among producing, gathering, processing, transporting and selling
OpenLink Financial LLC (OpenLink), a leading provider of commodity/energy trading and risk management (C/ETRM) software solutions, released findings from a recent webinar which surveyed senior energy and commodities industry professionals focused on renewable energy sources. The survey revealed industry participants’ priorities and greatest challenges in the producer services segment of the energy and commodities industry.
Key priorities for producer services market participants include:
The interaction among producing, gathering, processing, transporting and selling activities within a marketing organization – 43%
How producer services is defined by market participants – 23%
How the various imbalances are captured and managed in an ETRM solution (e.g., owner/well, field, platform, pipeline, plant, etc.) – 17%
The benefits and challenges of linking on-lease marketing activities with off-lease downstream marketing activities within a single ETRM solution – 10%
The elements of the producer services value chain that need to be supported within a robust ETRM solution – 7%
Mark Bright, VP of North America Oil and Gas Marketing for Apache Corporation, said, “These findings are consistent with clients’ experience in the marketplace. As there are many variables to running a producer services business, all data elements need to be proactively managed within one system. Speaking as a market participant, we needed a robust system to give us real-time data to manage all aspects of our business seamlessly.”
Survey results supported this sentiment with 67% of respondents stating they wanted the ability to manage new well connects, maximize gas balancing opportunities, improve management of contractual dedications, and maximize available for sale volumes and split-connect opportunities.
Wendi Orlando, Director of Product Management for OpenLink’s Energy and Commodities division, commented, “It is clear from our client feedback and this survey that producer services participants are hungry for technology to help them optimally leverage opportunities within this sector. Consistently, we’ve seen this business grow more complex, and, as a result, the technology requirements need to match those needs. We are pleased to support our clients as this industry evolves, helping them to stay competitive.”