That’s right. On October 25, we could become Las Vegas Legends when we get on stage and…speak about the uses of IBM Cognos TM1 in Natural Gas Capital Spending!
Alright, so we’re not going to be the next Las Vegas Cirque du Soleil act. But we will be in Las Vegas presenting something just as interesting (to us data enthusiasts at least) at Information On Demand 2012. eCapital Advisors’ own Delivery Manager, Shawn Freundschuh will join EQT Senior Manager Rob Kovacevic as they look at how EQT used IBM Cognos TM1 to manage hundreds of millions in capital spending.
New technology has made it more cost effective to drill for natural gas where it has historically been unprofitable or impossible. EQT has developed a plan to drill several hundred new wells each year at a cost approaching one billion dollars per year. The legacy solution for managing the capital expenditures consisted of linked spreadsheets. Maintenance of the model was cumbersome and forecasts were not accurate.
So, an IBM Cognos TM1 model was developed that could analyze a massive amount of data to provide information about when cash would be needed to fund drilling operations. In this session, we’ll talk about how the model gave engineers the ability to modify key metrics for each well and generate a new cash forecast.
In addition to financial consolidation, budgeting, and forecasting, IBM Cognos TM1 has the capability to do so much more. If you visit this presentation, you will see how it is possible to apply TM1 in a non-traditional business model, and gain insight on how to use TM1 to enhance or create predicative analytic ability within your organization.
Sound interesting? If you’re planning on going to IOD, stop by this presentation to learn more!
Register for Information On Demand 2012 using promo code: G12ECAPAD.
Session BPM-2537B Using IBM Cognos TM1 to Manage Hundreds of Millions in Capital Spending at EQTs Natural Gas Production Co.
Time Thursday, Oct. 25 08:15 a.m. – 09:30 a.m.
Location Mandalay Bay South Convention Center – Mandalay Bay C