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While seeking oil and gas development opportunities in the Rocky Mountains region, this Denver-based company has increased workflow efficiency by using a new platform that displays research based on users' preferences, delivers hours of time-savings each week and enables greater focus on high-level analysis.
IHS Energy Solution™ with IHS Connect®
The Rocky Mountain region offers vast untapped oil and natural gas assets. Denver-based Bill Barrett Corporation focuses solely on this resource-rich region, with active exploration and development properties mainly in Colorado, Utah and Wyoming. Yet activity on the other side of the globe also plays into the company’s business decisions. Its leadership team needs to know if/how market events or trends around the world might impact either the company’s current core programs – which focus on long-term, lower risk oil and natural gas development – or complementary projects with the potential for future high growth and returns.
Bill Barrett Corporation has long relied on IHS as its primary source of energy industry information and insight to help shape company strategy. Using the IHS Connect® platform, the company gains quick insights into worldwide activity for more informed decision-making.
“IHS is our main information source and the lone subscription that we have for data,” said Kyle Sourk, investor relations analyst for Bill Barrett Corporation. “It gives us everything we need.”
Sourk is responsible for researching the market and providing summarized updates to Bill Barrett executives. He needs to zero in quickly on the latest global energy activity and oil and natural gas outlooks to support hedging strategies and other high-stakes asset investment decisions. Sourk’s research and summaries consolidate dozens of pages of information down to short overviews, giving company leaders high-level insights to move forward.
Prior to moving to IHS Connect, Sourk gathered energy market data from an IHS CERA system. IHS Connect offers faster, easier access to that same best-in-class IHS CERA information and a wealth of other resources covering oil, gas and coal (and soon renewables) as well as company valuations, mergers and acquisitions, country risk and economics.
'No Learning Curve’
After an informational call from an IHS Customer Care representative, Bill Barrett Corporation made the move to the consolidated platform. IHS Connect brings together the intellectual capital of more than 2,000 world-renowned IHS experts across the globe into one platform with just one login.
Sourk found the interface immediately easier to use, helping him access desired information more rapidly.
“There was no learning curve,” Sourk said. “You literally click on the industry and the article is right there. IHS Connect is a lot more user friendly so I personally have an easier time finding what I need. I can navigate to what I’m looking for quickly or playfully go exploring.”
IHS Connect is a much nicer experience. It certainly saves me time and saves the headache of having to click through a lot to get what I need. Even if it’s a couple of minutes faster on each search, that adds up…I can focus on analysis as opposed to gathering all the materials to do my job.
Sourk configured IHS Connect to notify him via email of new articles of interest. He also regularly goes onto the site to search for headline analysis and research related to oil and natural gas. With the Data Browser, Sourk personalizes the interface by topics and regions to display exactly what he wants. Each time he goes onto IHS Connect, he sees updated information based on his preferences. Information-gathering is enabled both ways for Bill Barrett Corporation; Sourk reads updates as they come on the platform and uses it to search for articles and research of interest.
Sourk also finds the research easier to bring into the formats he needs. He can simply export information into PowerPoint or a PDF for presentations. As a result, he can share critical information more readily with his CEO, CFO, senior vice presidents and the rest of the leadership team.
Insight Drives Company Strategy
In particular, Sourk looks at price outlooks and supply and demand balances in the short and long terms. Price outlooks, for example, help the company’s commodity price committee with hedging decisions.
“We just completed a natural gas asset sale and at the same time were considering selling an oil asset,” Sourk said. “Knowing the commodity price outlook for each of them certainly plays a factor in these types of decisions.”
IHS Connect has become a regular part of Sourk’s research process, keeping him and the company’s management team continuously updated about global activity. A change in the Chinese demand outlook may not affect Bill Barrett Corporation today, but it becomes part of the cumulative research that drives company strategy.
“Whether it’s a hip-pocket talking point or something we want more analysis on, IHS Connect has the depth to provide that,” Sourk said.
Getting Hours Back in the Week
Bill Barrett Corporation finds IHS Connect an integral part of the company’s research process. Since IHS Herold is integrated into the IHS Connect platform too, Bill Barrett can access Herold’s company and transaction research as well – all with one login.
For Sourk, the intuitive nature of IHS Connect makes research flow more smoothly. The customizability of the platform and automated delivery get needed information into his hands faster, and in turn, to executive decision-makers in less time.
“Gathering all the information for executive summaries can be a pain,” Sourk said. “To have it be easier is huge. IHS Connect is a much nicer experience. It certainly saves me time and saves the headache of having to click through a lot to get what I need. Even if it’s a couple of minutes faster on each search, that adds up.”
“I can focus on analysis as opposed to gathering all the materials to do my job,” he added.