Case Studies

Case Studies

Storage Yard Fees – 4 Years and Counting
An oil & gas company had equipment sitting in a third party storage yard for four years, and had been paying storage fees all this time.

How JEDEX, AMiCS™ and IOEB helped
JEDEX inventoried the equipment and listed the items for sale on our online Surplus Equipment Catalog. The items were sold within 30 days of the items listed in AMiCS™.

IOEB handled the selling of the Surplus assets, which eliminated the associated storage fees and provided revenue back to the customer.

Acquisitions & Divestitures
An oil & gas AMiCS™ customer sold some properties and needed to get the associated surface equipment off their books.

How Jedex and AMiCS™ helped
Using AMiCS™, the customer was able to quickly and easily identify all associated equipment and create Material Transfers (MT) within the software. JEDEX assisted in batch processing these MT’s, leaving a full audit trail in AMiCS™.

Redeployment Opportunity
An oil & gas AMiCS™ customer had trimmed down their capital program but their investors still had high expectations for drilling and production.

How AMiCS™ helped
AMiCS™ provided visibility to all Idle and Surplus equipment across the company. The customer was able to redeploy existing equipment, bring on production sooner than sourcing new equipment, and spend capital on new wells vs. new equipment.

Facilities Construction Control
An oil & gas AMiCS™ customer planned numerous facility construction projects and wanted to tightly control costs and project schedules.

How AMiCS™ helped
The Facilities group used AMiCS™ to:

  • Track capital items and compare AFE’s estimate vs. field costs vs. actual costs
  • Reconcile Construction group’s equipment list
  • Create MT’s when moving items between projects, so each project has the proper equipment assignments.

Property Tax Management Made Easy with AMiCS™ 
An oil & gas company had inadequate fixed asset data for efficient reconciliation of property tax assessments. They knew that the operating status of equipment and the equipment type are the most important data required. Operating Status – if equipment is Idle for 12 months, then it is deemed not assessable for property tax purposes (except for the building).

How JEDEX and AMiCS™ helped

  • Company has third party property tax consultants, who are authorized customer AMiCS™ users.
  • Property tax consultants do not need to contact field people to verify status of equipment, expediting the workflow process and allows more time for detailed reviews.
  • Result: millions of dollars in property assessment reductions.
  • Thousands of dollars in actual tax savings for the life of these assets.

Of all our clients, those using AMICS™ are at the top of the list in terms of inventory accuracy for property tax assessments.”
– Property tax consultant

Sales Tax Administration 
An oil & gas company needed to track interprovincial Material Transfers to administer sales tax compliance.

How AMiCS™ helped

  • AMiCS™’ MT Report enabled Accounting department personnel to review monthly MT’s & identify interprovincial movement of equipment, and identified 4 MT’s from a vendor in Saskatchewan to Alberta locations.
  • Company’s accountant provided asset serial numbers, invoices and trucking receipts to Saskatchewan Ministry of Finance.
  • Provincial Sales Tax Assessable Assets reduced by almost $200,000.00.
  • Company saved almost $10,000.00 in Provincial Sales Tax (PST).

Financial Control/Compliance 
Property, Plant, and Equipment are audited on a regular basis, always require massive amounts of prep work before the audit and follow up work after the audit.

How AMiCS™ helped

  • AMiCS™ is now a step within these documented control processes.
  • AMiCS™ enables auditors to verify that MT’s are approved by appropriate officer in the company and the valuations are correct
  • CSOX
    • AMiCS™ Workflow Model is accepted as management control documentation for fixed assets
    • AMiCS™ enables Company to pass CSOX audits

Refinancing Truck and Equipment Fleet 
A Gas Well Services Company’s bank required a third party appraisal performed by an accredited and qualified oilfield equipment appraiser.

How Jedex helped

  • A JEDEX auditor visited the sites, identified, inventoried, photographed and evaluated the condition of all equipment items.
  • JEDEX then assigned values to each asset based upon the condition of the equipment as noted in the field audit. The condition and values were based upon Petroleum Accountants Society of Canada guidelines.
  • An Appraisal report was prepared and delivered to the Gas Well Services Company that detailed the identity, location, and condition and appraised value of each piece of equipment. Digital photographs were also provided.
  • The bank accepted the JEDEX appraisal report.


Squirreling Away Equipment is Nuts 
An oil & gas company had a massive amount of Surplus equipment on leases, in boneyards and in storage yards. The operators were hanging on to it ‘just in case.’

How JEDEX, AMiCS™ and IOEB helped

  • JEDEX inventoried the equipment and listed the items for sale on our online Surplus Equipment Catalog. JEDEX also implemented AMiCS™ software for the company.
  • The company now uses AMiCS™ to redeploy Surplus equipment instead of buying new equipment, saving millions of dollars in operating capital, and decreasing time to production.
  • IOEB handled the selling of the Surplus assets, which cleaned up the bone yards and field storage sites, reduced boilers branch, inspection and maintenance fees as well as property taxes and insurance premiums, and provided millions of dollars in cash back to the customer.

Accounting Firm Acting as Receiver for Oil & Gas Company Needed to Monetize Equipment Assets 
The receiver did not have complete information about the production equipment assets owned by the oil & gas company.

How Jedex and IOEB helped

  • A JEDEX equipment auditor visited the sites, identified, inventoried, photographed and evaluated the condition of all equipment items.
  • JEDEX then assigned values to each asset based upon the condition of the equipment as noted in the field audit. The condition and values were based upon Petroleum Accountants Society of Canada guidelines.
  • A Fair Market Valuation report was prepared and delivered to the Receiver that detailed the identity, location, condition and value of each piece of equipment. Digital photographs were also provided, as was a wellsite inspection report for each well location.
  • JEDEX created AMiCS™ records for each piece of equipment and listed the items for sale on our online Surplus Equipment Catalog
  • IOEB handled the selling of the Surplus assets and provided cash back to the receiver.


Pressure Vessel Compliance Results Using AMiCS™ 
An oil & gas AMiCS™ customer has an ABSA certified Owner User Program and wanted to streamline processes and save money.

How AMiCS™ helped
Because AMiCS™ contained all their equipment information, the customer was able to:

  • Quickly compare their records to ABSA records, resulting in saving thousands of dollars in ABSA registration fees
  • Reduce exposure for vessels that are on ABSA’s books that the Company no longer owned
  • Saved one FTE equivalent $80,000/ yr.

“Today we own the process for pressure vessel compliance.” – Manager, Health, Safety and Environment

Pressure Vessel Compliance
An oil & gas company was using a third party for all pressure vessel compliance requirements.

How AMiCS™ helped

  • AMiCS™ provides an inventory system that includes pressure vessels data that the company uses to validate the asset locations and ownership.
  • Company has brought more of this function back in house, saving time and money.
  • Material Transfer process in AMiCS™ keeps vessel information up to date and maintains Alberta Boilers Safety Association (ABSA) compliance.
  • Company is able to input information into AMiCS™ as soon as vessels are acquired – through ordering equipment or inventory from new acquisitions, ensuring their information is always current.