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.
Before working with Connect, our website was a company information only site without any functionality. We now have the capability as a small business to provide updated information to our investors and clients on each well we operate. This includes providing necessary accounting forms for tax purposes and change of ownership. We now also have the ability to market drilling projects to potential investors by using an exclusive password to view related exhibits for each project. John and his group have been great to work with and are constantly coming up with new ideas to increase the useability of the site.
"It saves me so much time by not having to search for the well, type in my report, save my report in pdf form, then send the report. A simple copy and paste is all it takes... literally seconds. I have also found myself using the system for quick searches. If I can’t remember who owns a company, I can just type in the email address or company name and it pulls up that information up for me. I love the way it sends the daily reports out a month at a time now instead of for just a few days... a quick glance is all it takes for investors to see what is happening, and it gives them the opportunity to go as far back as they would like and look at information over time (without having to call me to re-send the whole report!). Not only that, the website gives investors instant access... if they don’t have time to read an email or daily report, they can log into the system at their leisure and read about it later - indeed check on ALL of their investments - in one nice, tidy package. The mobile app is fantastic for those on the go. Several investors have reported to me that they like the new set-up very much. Overall, I am very pleased. The possibilities are boundless!
I do want to thank you for your help and attention. Connect Technology’s Employees have been wonderful to work with!”