Resource Energy Solutions: Comprehensive Well Data Management

Resource Energy Solutions: Comprehensive Well Data Management

Trent Marx, President & CEO, Resource Energy SolutionsTrent Marx, President & CEO
Over the past four years, it has become increasingly difficult for CIOs in the oil and gas industry to capture, analyze, share data, and make decisions based on that data, particularly with the legacy systems and siloed applications still in use in many companies. Resource Energy Solutions (RES) recognized this challenge and has faced it head-on with the creation of a solid, real-time capture analysis system to help CIOs make decisions more quickly.“We believe in solving the most difficult problems in the industry, with the best architecture, technology and development solutions”, says Trent Marx, President and CEO of RES

RES has developed a cloud and web-based integrated suite of products utilizing the Professional Petroleum Data Management Association’s management standards. The core products of this suite are Wellman NextGen and AFE Manager.

Wellman NextGen is a well data management solution that monitors, controls and captures all daily in-field costs and activities during the full well life cycle. Planned budget and activities are loaded into Wellman, daily field activities and costs are tracked and automatically reported to the office on a real-time basis, providing detailed and summary reporting to all stakeholders.

AFEManager handles and tracks the budgeted cost, workflow, and routes for internal review and approval, providing an audit trail and solid fiscal control. There are two versions of AFE: an Oil and Gas Edition and a Regulator Edition. According to Marx, “The three integral components to the developing the best solution suites are the people, the toolsets, and the latest technology. We have spent a tremendous amount of time on planning to ensure we got all the architecture down pat in N-Tier open architecture and a multi-tenant database. It’s very flexible and robust.”

Building Global platforms for today’s 21st Century Energy Industry

The Indonesian government recently adopted the AFE Manager. As of August 1, 2016, all 85 operators in Indonesia are required to use AFE Manager to create and track their budget and submit to Indonesia’s regulator, SKK Migas. Managing the production-sharing compensation, cost recovery, and budgets for all work being done in the industry, SKK Migas is pleased AFE Manager is saving themvaluable time. “The AFE process of submission, evaluation, and approval should speed up implementation of all of our upstream oil and gas projects, and in the end, will contribute to an increase in oil and gas production,” states Chairman of SKK Migas, AmienSunaryadi.

RES has built its reputation on providing superior products and services. RES combines this level of service with a cost-effective approach to meet their clients’ needs, and they do this on a global scale. After 21 years in business, they have clients in the U.S., Canada, Mexico, and Latin America, and have recently expanded into Asia, Africa, and the Middle East.

Marx’s passion, persistence, and determination are contagious and he fosters a work culture at RES that is built on respect for co-workers and clients. In his spare time, Marx operates a non-profit tree farm and donates trees to communities in need, such as Slave Lake and Fort McMurray, both of which were devastated by forest fires. This generosity of spirit resonates throughout the company. RES is proud to donate their software to educational institutions, ensuring the next generation of students has access to leading edge industry solutions.

With the strength of teamwork, pilot projects in new countries, and new project development such as Environmental Manager, a new drilling fusion algorithm (DFA),in the works, the future is very bright for RES and their clients.