Tackling rapid-growth hurdles with AI
乐鱼（Leyu）体育官网 helped a U.S. oil and gas company deploy an innovative approach to contract management after it acquired more than 10,000 new land leases.
Client
A North American oil and gas company
Sector
Energy
Project
Cognitive contract management
Client challenge
Rapid business growth brings its own set of challenges. When a U.S. oil and gas company acquired more than 10,000 new land leases, they realized their contract-review process would need to evolve quickly. Performing contract due diligence, administering royalties, and assessing parcels for development potential are intricate and time sensitive. Already committed to industry-leading technology, the company asked 乐鱼（Leyu）体育官网 to deploy its Ignite cognitive contract management (CCM) approach in order to streamline existing processes and prepare for future expansion.
This company is now positioned to accelerate ROI, simplify processs and capture growth opportunities from its contract portfolio at scale.
Approach
乐鱼（Leyu）体育官网 leveraged its Ignite CCM platform as the foundation for a purpose-built, industry-configured client solution. The collaborative team:
1
extracted, structured, and classified previously unstructured data from more than 10,000 newly acquired lease contracts
2
applied optical character recognition (OCR) tools in addition to proprietary natural language processing (NLP) and machine learning models
3
leveraged our understanding of oil and gas royalty payment exemptions to simplify and accelerate contract-portfolio analysis via the use of exemption clusters as opposed to individual lease review. The clusters enabled a 97% reduction in the number of necessary reviews.
4
empowered subject matter experts to quickly identify risk, value leakage, and value creation opportunities across the portfolio via interactive dashboard reporting
Benefits to client
乐鱼（Leyu）体育官网 has helped position the company to accelerate return on investment, simplify processes, and capture growth opportunities from its contract portfolio at scale. Specific benefits include:
1
the reduction of individual complex lease review time from hours to minutes
2
an increase in accurate royalty payments to land owners
3
improved speed, accuracy, and anomaly detection in contract review enabled by artificial intelligence (AI), reducing resources and task-laden dependence on subject matter specialists
4
the ability for the client to leverage new dashboard reporting to review their producing acreage, as well as planning future exploration and production
5
scalable CCM model in place to help accelerate the review of additional acquired leases and potentially accelerate ROI across the company鈥檚 lease portfolio.
Meet our team
Martin Kaestner
Principal, US Analytics and AI Lead, 乐鱼（Leyu）体育官网 in the US
Martin Kaestner
Principal, US Analytics and AI Lead, 乐鱼（Leyu）体育官网 in the US