Back in 2022, StackDX hired a Roads Analyst for a “data grindy” job, focusing on a review of Road Use billing and catchment. The intention was to deeply understand the problem first, with an eye to addressing and automating the industry’s challenges in this area. After becoming intimate with the inefficiencies of the role and the industry, the Roads Analyst created a tool that would automate Roads and Thirds agreements from request through to billing. In early 2024, StackDX officially launched StackDX Roads and Thirds and the response has been remarkable.
To provide some perspective, Roads and Thirds administration represents roughly 25% of the total surface analysts’ time across the industry. Very little of that time is spent proactively managing risk, auditing details, and ensuring completeness. We discovered that the problem lies largely in the tools available on the market. With StackDX, the agreement execution process is shortened from 4 hours to about 15 minutes, and monthly billing and validations from days to hours.
Notable features of StackDX Roads and Thirds include:
- Streamlined request form, automated agreement generation, and land system integration.
- Workflow automation to track requests and ensure visibility.
- Automation of invoicing processes including IC and real-time production status updates.
- Live connection to Petro Ninja for UWI, surface location validations, and license and production information. This allows for integration with public data to ensure accurate billing, reduced AR, and minimized disputes.
- Integration with land system data to drive the relationships to surface files and Freehold roads.
- Accounting integration for accurate cost center booking with zero manual entries for AR and no invoicing required.
- EnergyLink integration for lets and takes.
- Elimination of data accuracy issues and identification of missing revenue through catchment reviews.
- Ability to bill monthly rather than quarterly and annually with our simplified, accurate, and time-saving processes.
Additionally, the companies using StackDX Roads and Thirds in 2024 have been able to recover 50% of their subscription costs through the catchment review process alone.
The goal with StackDX Roads & Thirds is to automate and simplify road use processes to ensure fair compensation is realized. While the purpose isn’t to generate revenue directly, its impact on your bottom line is undeniable.
Reach out to us at hello@stackdx.com to see how StackDX Roads and Thirds can be seamlessly integrated in your organization to boost efficiency, streamline processes and improve operations.