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At Homebound Resources, Irving Texas, before we were operators, we were working interest partners in several wells. We were fortunate enough to be involved in some good producing wells, which was exciting, but up to date production information was always lacking from the operator. The updates we would get would essentially be the revenue statements at the end of the month. The desire for constant production updates was always there, but just never available from the operator.
Fast forward several years later, and we are now an operator ourselves, and therefore have daily production from all the wells to our hearts desire. As operators, we see the info is always there, it’s just the passing along of this info to investors that can become quite time consuming, so to a certain extent, we could understand why operators (especially small independents) don’t try to pass this info along to their investors.
It was exciting from a working interest/investor standpoint to see that WolfePak and Connect offer the investor web interface option. Being working interest owners ourselves, this level of transparency was really cool. It seemed like a great way to give our investors more information than other oil companies may be willing or able to provide. A great way for us to stand out amongst our people. The fact that Connect, interfaces with Wolfepak makes this really efficient from a time standpoint since we can just import each day. I do the updates and it takes me roughly 3 minutes each morning, for all the wells at once. We recently had an investor call to let us know how happy he is with the transparency & the service. Usually when investors call, it’s not to compliment the operator, so this was a pleasant surprise.