American independent oil & gas companies are the backbone of domestic production. They drill and develop 95% of all oil and gas wells in the United States, produce 54% of the oil, and 85% of the natural gas in the country according to IPAA. And American independents are among those impacted most by the sharp decline of oil prices and continued uncertainty.
Every component of the oil & gas industry is focusing on efficiency in order to weather the storm of low prices brought about by record production levels and reduced global demand. Larger companies are turning to technology and automation as part of the solution. But the majority of independent producers are small businesses who have largely been priced out of digital oilfield technologies.
NeoFirma’s unique cloud-based software provides oil & gas companies of all sizes the efficiency needed for today’s dynamic business in two important ways. First, NeoFirma’s drilling, production and well work modules leverage the power of cloud computing and open Web standards. NeoFirma delivers software as a service (or SaaS), which means that there are no hardware or other software licenses to buy and maintain. There is zero cost of ownership which translates into significant cost-efficiency for NeoFirma users compared to traditional software.
Secondly, NeoFirma gives oil & gas companies process efficiency. There are a lot of moving parts to an oil & gas operation, from onsite to the back office. NeoFirma brings key processes together in one place, providing real-time well monitoring and reporting. Operators gain a clearer view of wellhead budgets, costs, and production. Users save time while improving the quality and reliability of data across drilling, production, well work and AFEs, for example.
NeoFirma is a pioneer of SaaS in the petroleum industry. Our approach has always been to empower independents with cost-efficient technology needed to streamline key oilfield workflows and make better, safer, and more profitable decisions. And today, our approach is uniquely positioned to support US independents with well timed efficiencies and innovation.