Solomon’s Worldwide Onshore Production Operations Performance Analysis (Onshore Study) provides a platform for assessing onshore asset performance while adjusting for specific asset characteristics either globally or within a given region.
The Onshore Study analyzes onshore operations involving primary, secondary, and tertiary oil and gas, equipment of all ages, and assets with various qualities and at varying stages of asset life. In addition to benchmarking operating cost and cost drivers (such as watercut, energy consumption, etc.), Solomon benchmarks performance using a family of metrics related to uptime reliability and production maximization.
The Onshore Study analyzes onshore operations in the following oil and gas peer groups:
Why Choose Solomon’s Onshore Study?
The Worldwide Onshore Study helps you better identify opportunities, increase uptime, reduce cost, and develop a road map for continuous improvement. As the leader in automated data gathering, our cost data gathering approach takes your raw accounting data and utilizes code mapping to place costs transparently into appropriate standardized categories for benchmarking.
This proven method eliminates the task of completing cost spreadsheets based on cost category definitions, which may not be interpreted the same by each operator. It also improves the quality of the data and the continuity between studies and greatly reduces data gathering efforts. The code mapping enables you to probe deeper into subclassifications to focus on specific costs, such as subsurface and surface repairs/maintenance, labor, and transportation.
How It Works
By using “Cost Performance Signal (CPS)” analysis, we uncover potential operations performance improvement opportunities. The Solomon process includes:
- Detailed scope of work and expected deliverables
- Kick-off meeting with our project team
- Delivery and discussion of preliminary results prior to preparation of the final report
- Interview with your team regarding production management philosophies
- In-depth analysis of top opportunities and estimates of potential cost optimization by cost category relative to peer benchmarks
At the conclusion of the project, our team members will provide a custom debriefing presentation on the findings of the study, including an open discussion regarding the results of the analysis focusing on specific fields, operational challenges, operating cost performance results, and opportunities for improvement.
Solomon studies help you find answers to the critical questions key to your business success:
- What is my current baseline of operating expense (OpEx) and performance for on-stream assets?
- How does my facility compare across the range of performance in the industry?
- How does my facility utilization compare with that of others?
- Are my operating expenses comparable to those of companies with similar operations?
- Do my facilities deliver a competitive OpEx, taking into account their utilization and complexity?