The Permian Basin accounts for approximately two-thirds of crude oil production in Texas and almost 15 percent of the entire U.S. production. Seaboard Operating Company, in the heart of the Permian Basin, is a small, independent exploration and production oil company located in Midland, Texas. Founded in 1991, Seaboard drills approximately 15-20 wells per year and operates 300 wellbores.
As with many small independent E&Ps, Seaboard utilized a manual data collection and reporting process. Pumpers would go out in the field in the morning to collect data and then spend the rest of the day entering data into spreadsheets or Word documents, which were emailed to administrative staff. The office staff then spent numerous hours a day taking the data and trying to aggregate it into a usable solution that they could send out in a different report every single day.
Seaboard’s biggest challenge was its data management process, which included data entry, aggregation of various data sources (i.e. spreadsheets, Word documents, emails), and daily reporting requirements. In addition, the company did not have an IT department that could assist in the data management process.
Steven Runyun, an engineer for Seaboard, championed the initiative to research and recommend a software solution that would save time, streamline data collection, and simplify the reporting process. He spent 12-18 months researching the available solutions on the market and found that the large software companies required expensive annual license fees for each user, internal IT support, and discovered NeoFirma Production’s cloud-based service that provided the perfect solution.
NeoFirma Production was selected for the following reasons:
- Cloud-based solution – data is entered once and then pushed to the cloud for easy access
- No software to install or manage
- Affordable – unlimited users with no license fees, pay by the wellbore
- Easy to use for field and office personnel
In October 2013, Seaboard launched a pilot program with NeoFirma to test the service. It was important to the company that its pumpers have an opportunity to use the product and have input into the decision. Seaboard did not want to add any extra burden to those in the field, which would take them away from important fieldwork. The pilot program was extremely successful. The pumpers were pleased with the ease of use and time-saving capabilities.
Seaboard has been using NeoFirma Production for one year and has been extremely pleased with the results. The hours saved in entering and aggregating data has been significant through the company, which has enabled employees to focus on operation efficiencies and growth.
Centralized Data – Centralizing all the company’s data is the most valuable benefit for Seaboard. With NeoFirma Production, the data is entered once and then “pushed” to the cloud for easy access and reporting. The company no longer has to manage the data piece-meal, but the software manages it all for them. Data and well management is now more efficient with one centralized location.
Cost Savings – NeoFirma Production has had a huge impact on the company’s bottom line. The sheer number of hours saved not entering data has been significant. The pumpers have saved five to 10 hours per week just in data entry, which has given them a lot more time to visit leases to do “hands-on” lease improvement activities. Pulling event summary and production reports, which used to be a labor-intensive activity, is now just a click of a button. NeoFirma Production provides automated reporting capability with built-in reports or each report may be customized.
NeoFirma is our IT department – Seaboard values the capabilities that NeoFirma brings to the company. Serving as a 3rd party IT department, NeoFirma automatically updates the software overnight without any IT requirements needed from the company. They wake up in the morning, and there is an update. This has allowed Seaboard to have the most state-of-art capabilities at a price that is affordable.