Good day,
One of the operators I receive statements from, Validus Energy, has huge statements. For a one month JIB invoice has approx 15,000 line entries and is 888 pages.
One of the transactions, a 30$ total, has 7,172 entries by itself and is 460 pages. It is related to an authorization for expenditure, and contains transactions since the well started and grows each month. It contains all historical information with debits and credits but you really cannot readily sort out what the new charges are in the 7000 or so entries. Is that usual behavior for charges grouped under an AFE?
Thank you
Hard to say. If you are part of a large unit that has reasonable activity, then I could easily see a few hundred pages. I have conversations with people all the time related to admin costs. I have automated as much as possible to drive down costs. This has also made me much more focused on my possible acquisitions.
I don’t need invoices I need checks and mobile deposit app
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Can feed it into AI and have it summarize things for you
Oh, that is a good thought, I hadn’t considered using AI as part of the automation!
That is a large document for a consumer LLM to process accurately without significant training or a developing a specialized agent for the task. Each JIB is typically summarized and then detail pages follow.
I’ve had Claude parse very large JIBs (200+ pages) for me looking for particular data and it did a great job
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Check out what ADP has for all types of ownership
I have used Claude extensively to assist in the building of our Family Office lite ERP. Claude does a great job in most cases with the process you are talking about, but I still caution that training and testing of the specialized agents/skills needs to be a part of the process. I would suggest a parallel task processing of the JIB with the same prompt. Then use a new task to analyze the result of those parallel tasks. If there are failures or errors, you can use that for skill training so you get even better results.
If a well is generating a lot of invoices like that it may not be worth keeping. It’s going to get worse and one well intervention can put it in deficit for a long time.