How to Know When You’ll Overrun Budgets and Timelines to Get Wells Online
Congratulations, you’ve made it! Past few years have taught lessons on making the best use of resources to bring wells online. You have paused from your routine to build immunity towards fluctuating oil prices. You’ve planned well for it. Now the challenge remains to operationalize your capital, rigs, and resources in such a way that it is profitable. You cannot afford the overspend. This means you need to know when and how you will, most likely, overspend your resources before it even happens.
When we drill down that question deeper with our customers here is what we hear –
- How can we get permits faster without chasing people endlessly on their tasks?
- How can we schedule rigs optimally while knowing accurate timings for wells coming online?
- How do we get off paper and get more visibility into task status of every team member?
The inter-dependence of each task to get wells online makes it all too easy to lose track of people, money and time. That’s downright frustrating after all that hard work to line up those resources.
So many moving pieces. Organizing the paperwork for AFE approval; allocating tasks for getting permits; monitoring the trajectory of pad construction; scheduling the rigs at the right time, and so much more. Any of these tasks failing to meet their assigned due dates, create costly blind spots. You really must see them as you are working through different phases of a well delivery. A host of data can be` often hidden in paper or lost in a tribal mindset. Now that needs to be harnessed to do justice to your resource schedules.
As your basic data bill of rights, a well delivery management solution should give you
- Exactly when wells are coming online without chasing paperwork or people
- Dates to assign rigs based on matching up the wells that are coming online soon
- Exact tasks that are coming your way down the funnel
A Doer’s Approach to Well Delivery Management Solution
Key aspects of a hands-on solution lie in its flexibility to connect with numerous other siloed systems. Basically, you shouldn’t have to go looking for anything. Ever. Data should find you. Systems by now ought to effortlessly communicate both ways, and reflect any data changes made anywhere in the system across data points. It’s time we all should be able to trust what we see in front of us.
A well-built Well Delivery Management Solution flexes to the needs of the doer. The system should at a minimum provide the ability to:
– Integrate across various standalone systems
– Collaborate with people working in the same or different teams
– Reduce doing the same thing repeatedly, and save time for most efforts
This kind of system gives an unreasonable advantage in the market. It allows you to respond faster to the fuzzy capital planning questions others are still scratching their heads about:
- How do you manage more tasks with fewer people?
- How can you aim to double your APDs with the resources at hand?
- How do you operationalize your rigs by knowing exactly what wells are about to come online at any time?
- Is your team spending most of its time in their area of expertise, or pushing paper?
- Can your team become nimble by planning out “what-if scenarios”?
It’s Simple, Disrupt Your Monday Morning Meetings
Make your Monday morning meetings more fruitful with data everyone trusts already; captured and viewed from a central web-based system.
- With all the information – on permits, documents, wells or rigs – from various stakeholders, make it easy to track progress on each well.
- Assign tasks to every resource based on the estimated timelines and with automated alerts making it easier to remember. This can help you with the most troubled task of identifying the right dates for rig allocation.
- Waste no time in getting your permits done, so move it quicker by creating a collaborative workspace, where your landman can worry more about the land lease and contracts rather than chasing overdue permit paperwork.
- Integrate all your data repositories and systems can sync all information from one end of the department to the other, without having to push files.
The production curve is on a constant decline, and that leaves you with a critical imperative to get wells online, on-time. Making your capital and resources work for you. Now.
To learn more, visit www.sevenlakes.com.