Case Study: an E&P company cuts audit prep time and boosts accounting productivity with P2 Excalibur from P2 Energy Solutions

Featuring an E&P Company with Annual Revenue of $100M

P2 Energy Solutions worked with an E&P Company, a $100M annual revenue exploration and production organization, whose accounting team struggled with scattered, non-real-time data, manual data entry across multiple systems, and the heavy effort required to track complex land, exploration, and revenue agreements. These issues made cost optimization, reporting, and day-to-day accounting processes time-consuming and inefficient, so the company needed a better way to manage financial operations.

Using P2 Excalibur from P2 Energy Solutions, the company centralized accounting and reporting and reduced reliance on spreadsheets and manual processes. The results included a 50-65% reduction in supplementary AFEs, audit preparation time cut from one week to 1.5 days on average, a 75% improvement in JIB productivity, elimination of duplicate revenue keying, and GL voucher keying reduced from 4-5 days per month to just five minutes.