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Business Intelligence in Oil & Gas Industry

     

Why BI in Oil & Gas Industry?

Have ever wonder what Business Analyst / Technologist / Management Team would analyze the Production and Financial data in Upstream sector of Oil and Gas Industry:

  • How and where am I spending my dollars in OPEX across the wells in same location?
  • What is the impact on overall CAPEX spending if there is drastic increase in any of the well drilling phase (Planning, drilling, completions, etc.)?
  • What is the growth trends of Oil, Gas and natural gas production across well, fields, etc. with current, Month on Month and Year on Year comparisons?
  • Not able reconcile actual and budget on various tasks while drilling the well?
  • How to avoid duplicate/mismatch in the production / financial data for a well?
  • Can I get the cockpit view of production and non-production time?


KPI's


"Key Performance Indicator (KPI) in upstream Oil & Gas sectors are the measurable value that is intended to show how well the business is adhering to its business model and strategies that directly or indirectly reflect the level of success in meeting its goals".


Some of the Production KPIs which measures the Production Strategical Performances and goals.

        • Sales Volumes and Revenue
        • Intangible/Tangible Drilling Cost
        • Intangible/Tangible Facilities Cost
        • Intangible/Tangible Completions Cost
        • NPT (Non - Productive Time)

Figure 1 - Operational Scorecards - KPIs

Some of the below Financial KPIs acts as the key element in visualizing the financial attributes and goals:

        • Authorization for Expenditure
        • Field Cost
        • G/L Actual
        • Operating cost and Expenses
        • Revenue
        • Drilling Cost
        • Facilities Cost
        • Completions Cost

Reports

This Section focuses on BI Reporting for Upstream Applications in Oil & Gas Sectors:


Production Reports - Shows the calculated Monthly Production Volumes in Standard (BOE - Barrel of Oil Equivalent) and Native Measures for Shale and Conventional drilling and completed wells and production units. Some of the sample Production Reports are:

        • Monthly Actual vs Budget

        • Production Report

        • Production Outlook

        • Month on Month Production Report

        • Cumulative Year to Date Production report


Figure 2 - Monthly Budget vs Actual Report


Lease Operating Reports - Helps to track the Payouts, Expenses, Incomes and Profit/Loss for the well.

Budget Report - Information Summarizing Large Capital and Operating Expenditure Approvals for Exploration, Development and Production.

Maintenance Cost Report - Shows the Monthly, Yearly - Operating Cost, Expense Cost, Sales Cost, Volumes, Revenues for the Mineral Products (Oil, Water, Natural Gas etc.,) extracted from each well.

Capital Expenditure Accruals Report - Shows the Timely Accrued Expenses of the various category (such as Drilling, Completion, facilities) incurred from drilling the well till it is ready for producing the minerals Such as Oil, Gas, NGL Etc.

Still we haven't focused on how to avoid the duplicate/mismatch in the production or financial data for a well and the possible solution can be mastering the Well Id using industry standard MDM tool. Let's focus it in the next blog.




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