R. Lacy Turns a Down Market into Opportunity with Spotfire
Blog: The Tibco Blog
R. Lacy is an independent oil and gas exploration and production company with core operations in east Texas. Since its founding in 1946, and continuing today, the R. Lacy brand stands for efficient, low-cost operations.
Even with the recent and significant decline in oil and gas prices—and the strain that puts on cash flows and project economics—R. Lacy is looking to expand. As Brent Haas, vice president of engineering explains, “We see these times as an opportunity to acquire oil and gas assets at lower evaluations.”
Because exploration and production is a very data-driven business, the company needed technology that would support better decision-making for developing assets and acquiring new ones. To that end, Mr. Haas, a TIBCO Spotfire user for seven years, brought in the technology, along with TIBCO professional services. The combination is enabling R. Lacy to find high-quality acquisition properties that will supply a large amount of development inventory.
Learn how Spotfire enabled R. Lacy to combine mapping, decline curve analysis, and data analytics to target the highest performing areas and drive up efficiency in acquisition.