|Date Published||May 26, 2017|
|Article Author||Dave O’Connor|
|Article Type||May 2017 Issue|
|Category||Articles, Oilfield HUB|
|Tags||DFR-Daily Field Reporting, E&P, FCM - Field Cost Manager, Oilfield HUB Suite, Oilfield Software Tools, Operations Services Suite, ORM - Operations Report Manager, Procurement Practices, PVM-Preferred Vendor Manager, S&S, VRM - Vendor Relationship Manager|
Interesting words from Probst that seem to mirror what has happened right here in Alberta in our beloved oil patch. What about you and your company… are you game changers? Have you created the strategy and made the risky moves to significantly affect how you faired in this prolonged and destructive downturn? I suppose the fact you are still afloat is testimony you did so on some level, but does it mean you are a game changer?
What is a game changer?
History is riddled with people and events that certainly qualify. Take Michael Jordan for example, he could single handedly change the outcome of a basketball game seemingly at will. On many occasions, he would appear to coast through the first three quarters and then with the result of the game on the line he would just take over and impose his will to win. Not everyone can do that, but he could. Total game changer!
So… back to the oil and gas business.
The last two years have taught us that it is no longer feasible to stay the status quo. The economic climate today demands companies adjust the way they do business so they can remain viable. You can’t rely on the informal way you have always operated even if you and your people are convinced you are good at it and it’s worked well for a long time. Gone are the days that you could just throw money at mistakes to make them go away.
At the start of the downturn it seemed like most companies were just bracing for the pain that surely would not last very long… right? The pain just kept on coming. If you were one of the companies that put your head in the sand and butt in the air hoping that the beating would mercifully come to an end and we could all get back to business, well, you may unfortunately be a victim, standing on the sidelines while the ‘Michael Jordan’s’ have taken over and are winning.
However, what we are led to believe is the visionaries that adjusted their business practice to fight the downturn demon are now healthy and vibrant and prospering in this new reality that appears to not have an end in sight. The future is here. Let’s all get our head straight that $100 oil may not happen for a while, or ever!
If by some miracle you are still relevant, maybe now is the time to think about how you can change the way you do things for future growth. Let’s ask a few questions…
Do you believe you are operating as efficiently as you could be?
How does your organization handle operational performance to improve bottom line results?
Today’s market reality demands operations run as efficiently as possible to survive and be successful.
￮ Qualification and Value
￮ Performance Evaluation
￮ Best in Class Practice
￮ Centralized Information
￮ Bidding and Ordering Transparency
￮ Supply Network Value Optimization
￮ Reduce Costs on Licenses and Per Diems
￮ Data Management
￮ Invoice Reconciliation
￮ Financial Reporting