Royalty Studio – Unlocking Millions in Royalty Payments

In this episode, hosts Speaker A and Speaker B discuss Royalty Studio, a software solution that is helping energy companies maximize their royalty revenue. They dive into how the platform works, share a case study on PrairieSky Royalty Limited’s implementation, and explore the future roadmap for the product.

Main Topics Discussed

• Overview of Royalty Studio and how it helps energy companies track and optimize royalty payments (00:00:00 – 00:10:00)
• PrairieSky Royalty Limited’s use of Royalty Studio to manage their massive 36,000+ well portfolio (00:10:00 – 00:20:00)
• Royalty Studio’s capabilities for managing royalty obligations and liabilities (00:20:00 – 00:30:00)
• The evolving importance of robust royalty management solutions in the oil and gas industry (00:30:00 – 00:40:00)
• Future developments for Royalty Studio, including enhanced issue tracking and accrual forecasting (00:40:00 – 00:50:00)
• The potential industry-wide impact of widespread royalty optimization (00:50:00 – 00:60:00)

Where to Find the Guests

• Speaker A: LinkedIn
• Speaker B: Twitter

Key Terms & References

• Royalty Studio: Software platform developed by GuildOne to help energy companies optimize royalty revenue
• PrairieSky Royalty Limited: Canadian energy company with a 36,000+ well portfolio that implemented Royalty Studio
• Revenue Completeness: Concept of ensuring companies capture every dollar of royalty revenue they are entitled to
• Accrual Forecasting: Royalty Studio feature to accurately predict future royalty revenue
• IHS, GDC, Petrinex: Public data sources integrated with Royalty Studio

Here are some of the best quotes from the transcript:

1. “You know, in the oil and gas world, they always say every penny counts, right? But what if I told you some companies are leaving millions of those pennies on the table?”

2. “Royalty Studio basically revolutionized prairie Sky’s entire royalty management process. They were able to automate a ton of their manual processes, which saved them a ton of time and reduce those costly human errors.”

3. “It’s all about having the right information at the right time to make those informed, critical business decisions.”

4. “Imagine you’re fishing, right you’d want a net, not just a single fishing rod, if you want to maximize your catch, royalty studio is that net. But for your royalty revenue, that’s a.” 

5. “It really feels like a paradigm shift.”

6. “You can’t manage, what you can’t measure.”

7. “It’s about working smarter, not harder.”

8. “Imagine if we could move past all the disputes, all the discrepancies, that feeling that someone’s always getting short changed.”