There are a lot of moving parts in the daily business of an oil & gas operator. Production operations, drilling, and well work projects constantly evolve. Adding to the complexity are the demands of regulatory, inventory, accounting, scheduling logistics, and non-operated interests. With so many pieces to track, how can companies gain the operational clarity they need to efficiently manage oil & gas operations?
The Need for Modern Oil & Gas Operations Software
For decades, the petroleum industry has turned to information technology and software products to tackle the tough tasks involved in oil & gas operations management. Traditional software solutions have failed to deliver complete operational oversight for three reasons:
- Traditional drilling, production and operations software is too expensive, leaving smaller independents with only a part of what they need to track operations or pricing them out entirely.
- Most oil & gas operations software has been around for decades, slowly accreting a mass of features that most users will never use and built with legacy technologies, making them less than user-friendly.
- Traditional oil & gas operations software is too specialized, requiring operators to juggle myriad vendors and disparate software products to gain a cohesive view of drilling, production, field costs, well work projects and compliance.
With “efficiency” as a watch word for today’s independents, companies need a modern solution to oil & gas operations management that boosts productivity and reduces costs. Key to achieving these efficiencies is a new generation of software built with the latest technologies that can support the entire business through one integrated platform.
Above all, flexibility is key. All too often software products force energy companies to adapt the way they do business to rigid technologies, rather than the other way around. To yield higher levels of cost and operational efficiencies, oil & gas operations management software must align with the unique business and operational environment of an oil & gas company.
Aligning with Production Operations
Every oil & gas company has a unique mix of assets. Effective oil & gas operations software should provide asset management and tracking capabilities for operated and non-operated assets. Such software should also provide the flexibility to define well groups in order to represent the company’s lease level production and create ad-hoc groupings for prospects and evaluation. And the software needs to deliver a complete operational view by tracking downstream assets as well, including tank batteries and gathering facilities.
Aligning with Drilling and Well Work
From chart of accounts and AFE processes to inventory and project management, every oil & gas company develops a unique way of running their business. Effective oil & gas operations software must align with these unique business processes and accommodate how each company chooses to setup key records, including COA, supply inventory, and products catalog. And because drilling, completion, maintenance/repair, and approval for expenditure (AFE) often involve processes unique to a company, explicit workflows are an important capability, enabling companies to define drilling project steps and AFE approval processes.
NeoFirma’s Oil & Gas Operations Software Platform
With production operations, drilling and well work reporting streamlined as one system, NeoFirma’s software is used by independents across North America to manage their operations. NeoFirma provides an affordable, cloud-based solution that is easily deployed to fit the unique business environment of each client.
With operations in the Eagle Ford, Cheyenne Petroleum uses NeoFirma’s software to support daily operations across the company. Read the Cheyenne case study to learn more.