The new NRM: Safe, secure, comprehensive asset management matters

For generations, the management of assets such as natural gas and oil wells was not exact. The know-how and the technology were just not available to accurately track the extraction of such resources and the information related to the assets. Until now.

“People who manage natural resource assets want a complete picture of the activity related to those assets. NRM’s asset management software suite provides comprehensive information that is safe, secure, and easy to use,” said Jonathan Beaver, Director of Software Development and Compliance for Trilogy Innovations, NRM’s parent company. “The benefit of our system is that you can have all of your information at your disposal, including financial information, mapping, revenue information, natural resource extraction data, valuation of land, and tax information.”

Jonathan Beaver, Director of Software Development and Compliance

Beaver said that large volumes of paper records have overwhelmed asset owners and managers in the past, and that NRM software makes management much easier. The software is backed by Trilogy’s long-established track record with expertise in key areas such as cybersecurity, software integration, data analytics, cloud migration, and application modernization.

“A benefit that comes to mind is that the NRM team can analyze data and look at average revenues. Records were inaccurate or incomplete regarding the volume of natural resources that were extracted but showed in other data that natural resources were being extracted,” he said. “In some cases, the NRM software revealed that asset owners or managers were owed substantial sums of money.”

To this point, Beaver said NRM assesses how much owners or managers are getting paid vs. how much they should be getting paid.

He added that another important benefit of NRM software is its security. Backed by an NRM team who has secured contracts with several private and public sector companies and organizations, including the FBI’s facilities in Clarksburg, W.Va., security for the software is critical.

“All of your data is secure from other people gaining access to it, but you have easy access to all of your own information,” said Beaver. “Our team has the expertise to ensure the security of financials and all of the information pertaining to the management of your natural resource assets. That’s a top priority.

“And these aren’t the only features of the software, by far. People were having to sift through huge amounts of paper records and found themselves completely lost. NRM software gives users an easy-to-access, easy-to-understand presentation of financial information. Natural resource assets such as oil and gas wells are being passed down in families. NRM has helped family members who may not have been active in the management of those assets,” said Beaver.

Ed Lesnick, NRM’s Director of Commercial Sales, emphasized that the software has also prompted groups of well-owners to do something you might not expect — communicate with one another.

Ed Lesnick, Director of Commercial Sales

“The NRM software ensures that asset owners and managers receive accurate information, including financials,” Lesnick said. “We are encouraging communication and networking within the natural resource rights owner/manager community because it can prove to be mutually beneficial for the entire group, from a financial perspective. When you have accurate information and you’re negotiating with natural resource extraction companies, you may well be stronger as part of a group than going it alone.”