Everything in oil & gas operations revolves around data; land documents, reservoir analysis, drilling and completions reports, and financial statements. In the center of it all is the Information Technology (IT) department. With this position, IT has the strong ability to affect the bottom line by enabling operations to maximize production, CAPEX and OPEX. Now is the time for the industry to count on IT to lead the business transformation.
1. Capture your organization’s data and equip operations to form meaningful insights and turn that into immediate action.
Give control to personnel to take action in the same place they find their insights. Allow all personnel to monitor the health of the business from one source of trusted data, from any location, at any time.
2. Start with a common understanding of data standards with the business.
Meet with all divisions in your organization and gain an understanding of what they need to overcome business challenges. Gain trust among IT and production, accounting, drilling and completions to recognize what insights will allow them to make better business decisions. Instill in them the truth, that you will provide a trustworthy and business-driven solution.
3. Deliver simple software that guarantees high user adoption.
Give your organization applications that require minimal training and adapt well to their mobile work environment. Operational excellence begins with your leaser operator out in the field, not behind a desk. Give them the ability to instantly log findings into a reliable tool such as an iPad or Windows tablet. With the swipe or tap of a finger an operator can record volume information and well parameters. They then can compare what theoretical production with real-time and identity potential performance gap. With dashboards that paint data visually rather than grids, operations become more proactive with better control over production success.
4. Implement software that must work with all systems.
Companies have spent millions of dollars implementing enterprise systems designed to capture, organize and store data securely. They were never truly required to speak with each other. To get the complete value from those systems every new technology investment you make must persistently bridge that gap between siloed systems. Invest in software that delivers consistent, trustworthy data without changing the way personnel work. This means new software must integrate with source systems, which helps make existing infrastructure and data more useful and meaningful.
5. Invest in action, not just data.
Your business is made up of doers who want to self-serve, not wait for data to be reconciled because systems do not talk to each other. New solutions that get them to take action swiftly wins the race. New solutions should already have ready made data models that map specifically to the oil and gas systems. New solutions should display exactly how your business already operates out-of-the-box. Changing and shifting along with your industry needs. Deploy technology that will answer your business questions, “How much did we really spend? Will we make money if we keep that well running? Should we continue production on this particular well?” Focus on key performance indicators meaningful to your personnel, and long lasting value in their action.
IT has the data, now is the time to visualize it in a meaningful way that equips everyone to make smarter business decisions. Take operations to a new level with solutions that provide increased transparency and insights. With the ability to freely see, act and share a common, collaborative goal – operators become difference-makers and bring sustainable value to the bottom line.