Oil Field Services

Oil and Gas > Oil Field Services

 Rig Utilization                    Rig Fleet Management

The Booming OFS Industry

 

The world onshore drilling rig market is set to expand from an estimated 9700 rigs today to more than 11000 units by 2016. Growth is driven by an increasing volume and complexity of well requirements in order to meet global production targets. Rising global production targets and the increasing complexity of well requirements are likely to be key drivers of rig demand over the forecast period. Companies in the Oil & Gas Field Services (OFS) Industry support oil and gas field operations on a contract basis. The oil industry is easily influenced by economic and political conditions. Many industry experts prominently believe that rather than analyzing energy companies, we should just focus on predicting the trend in energy prices. A strong correlation between the performance of energy companies and the commodity price for energy has been evident today.

Rig Utilization

An important factor that determines supply is the rig utilization rates; its close relationship to oil prices is not a coincidence. Higher utilization rates mean more revenue and profits. For drilling companies, it is important to take a close look at the company’s rig fleet, because older rigs lack the ability to drill in remote locations or to bore deep holes. Some other factors to consider are the depth of water that the offshore rigs can drill in, hole depth and horsepower. Higher quality rigs will have higher utilization rates, especially during weak periods. This leads to higher revenue growth. Sometimes this is a double-edged sword; while higher utilization is better, a company that is at its capacity will have difficulty increasing revenues further.

Rig Fleet Operations

Variance Analysis

  • Is there a way to identify the variance between bid hours and actual hours?
  • How do we address the discrepancy in bid and actual hours effectively?
  • Can we ensure that our operations consistently and reliably follow our plan?
  • What is the best way to present information in order to make critical business decisions?
  • Our variance dashboard solution provides more operational visibility and quick understanding of the variance in bid and actual hours thus ensuring that we can provide up-to-date status of rigs thus enabling in better planning , scheduling and utilization of rigs
  • Also easy drill down is enabled to investigate the impact of different Contributors such as Rig Group and Position Types on variance over the selected period

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Oil and Gas Variance Analysis Dashboard

1. Variance Overview

  • Day wise variance of all the rigs taken together over a selected period
  • Filter using the selectors located on the filter panel at the top. Filter based on Period (Period Selector), Rig Group, Rig Number and Position Group (Multiple Selector component)
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Oil and Gas Variance Analysis Dashboard

2. Bid vs. Actual Hours

  • Day wise variance of all the rigs taken together over a selected period
  • Filter using the selectors located on the filter panel at the top. Filter based on Period (Period Selector), Rig Group, Rig Number and Position Group (Multiple Selector component)
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Oil and Gas Variance Analysis Dashboard

3. Variance by Position

  • Day wise variance of all the rigs taken together over a selected period
  • Filter using the selectors located on the filter panel at the top. Filter based on Period (Period Selector), Rig Group, Rig Number and Position Group (Multiple Selector component)
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Oil and Gas Variance Analysis Dashboard

4. Daily Status

  • Day wise count of rigs based on their status.
  • Rig wise total actual hours spent on work for the selected period.
  • Daily status of the selected Rig with actual hours of work done
  • Filter using the selectors located on the filter panel at the top. Filter based on Period (Period Selector), Rig Group, Rig Number and Position Group (Multiple Selector component)
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Rig Fleet Management

 

Companies in the Oil & Gas Field Services (OFS) Industry support oil and gas field operations on a contract basis. The oil industry is easily influenced by economic and political conditions. Many industry experts prominently believe that rather than analyzing energy companies, we should just focus on predicting the trend in energy prices. A strong correlation between the performance of energy companies and the commodity price for energy has been evident today.

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Looking to implement a robust operations analytics solution for oil and gas but don’t know where to start?

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Operations Downtime for Oil & Gas

Rig Fleet Deployment

  • How is our Rig fleet performance across the globe? Can we track operating, non-operating, billing and non-billing Billing rigs?
  • Are the rigs utilized to near full capacity? What strategies can be adopted to increase rig utilization rates and maximize reserve recovery?
  • How to ensure optimal safety and closely monitor rigs in high natural hazard zones? Can the NATHAN world map of natural hazards be leveraged for this purpose?
  • For each rig, how could we facilitate rig contract performance standards?
  • Will timely alerts for contracts nearing expiration along with the rigs technical specifications enable managers to initiate  pre-qualification phase for evaluating potential contractors and assessing their ability to execute contract-specific activities?
  • How bottlenecks do we face in our rig operations management processes, and how much is their cost impact?
  • Can real time operational information such as the utilization rate, revenue, operating days and billing days enable effective supervision and monitoring ?
Rig Fleet Operations

Rig Fleet Operations

  • How can we optimize drilling operations to increase productivity and production rates? What is the average drilling depth and man hours for onshore and offshore rigs across different locations and regions?
  • What steps can we undertake to maximize reliability and performance by reducing breakdowns and minimizing production down times?
  • How can we analyze factors, ranging from the individual components to the overall asset, its operating conditions, complexity and the effectiveness of its maintenance regime to attain optimum reliability?
  • How can we ensure asset integrity by preventing unplanned structural failures and hydrocarbon releases resulting in major incidents?
  • How can we monitor and promote process safety indicator framework (four tier framework) within the enterprise?
  • Are our Management of Change (MOC) programs and processes in compliance with OSHA regulations? How can we improve the efficiency of these processes by reducing cycle time and eliminating workflow issues?
rig finance

Rig Fleet Financial Management

  • How has our operational revenue and profit grown? Are we meeting our target forecasts? What additional steps need to be taken?
  • How can we reduce operational and maintenance cost and increase operating profit? Can we restructure/refine our business processes by identifying elements contributing to this factor?
  • Can we analyze contract revenues by location to drive operating profit?
Oil and Gas Rig Fleet Deployment Management Dashboard

1. Geographic View

Geographic view of rig deployment management dashboard provides complete visibility to the company’s exploration and production portfolio. Rig fleets deployed across the globe are displayed on the world map and a mouse over option provides their present utilization rate, type and operating status. Users can further analyze this information by filtering on specific location and rig type using the selection panel provided towards the left. Clicking on NATHAN world map of natural hazards launches a detailed map identifying high natural hazard zones. Rig Utilization graph displays utilization rate trend across different years. These graphs can also be filtered by location and type for additional analysis.

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Oil and Gas Rig Fleet Deployment Management Dashboard

2. Deployment View

Deployment view allows users to monitor rig activity and provides a holistic view of the rig technical specifications, contract details, and maintenance activities. Actual vs planned metrics allow users to track rig performance over a period of time. Ability to view these metrics for specific months, quarters or years is also displayed.

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Oil and Gas Rig Fleet Deployment Management Dashboard

3. Operations View

The Operational view facilitates analysis and tracking Key Performance Indicators for productivity, production, reliability and efficiency by location, type and time period. Pie chart provides a breakdown of the Non Downtime (NDT) metric by reasons for failure. Toggle options on each pane allow users to switch between the graphical and scorecard views.

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Oil and Gas Rig Fleet Deployment Management Dashboard

4. Operational Safety

This view enables efficient monitoring of safety and operations KPIs by location and time period. Safety metrics such as Total Recordable Injury Frequency Rate (TRIFR), Process Safety Event Count (PSER) and unplanned discharges can be analyzed by tiers. The integrity and MOC metrics including Mechanical Integrity Inspection (MI), Risk Based Inspection (RBI) and Process Hazard Analysis(PHA) are displayed on the dashboard to track compliance parameters.

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Oil and Gas Rig Fleet Deployment Management Dashboard

5. Financial Management

This view enables enterprises to gain visibility into the financial operation and performance of their rig deployment portfolio. It provides graphs and scorecards displaying Financing Costs (Debt Service), Operation & Maintenance Costs (Breakdown by cost elements – Materials, Labour, Consumables, PM & BM), Revenue (Contracted Daily Rate, Weighted Average Daily Bill Rate, ARPD Average Revenue per Day) and Operating Profit / Gross Contribution.

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