The price of oil is certainly a hot topic for most executives working in the oil and gas industry. However, an opportunity around efficiency is out there for those with the vision to get smarter. They will see this as a chance to increase efficiency and be smarter in how they run their businesses. Whether you are an exploration and production (E&P) company or an oilfield services (OFS) company, it wasn’t too hard to meet your revenue targets the past few months. That’s all changed now.
Since the price of oil is 50 percent lower than it was back in June of 2014, you will undoubtedly have to work harder to meet those revenue targets. But does it really require us to work harder, or a chance to work smarter? I always say that working smarter is the way to go today. One of the ways you can work smarter is to utilize our EnergySuite solution. Another tool you should be using is Energent Group’s web-based application for turning raw information into meaningful and profitable information.
Early this month, I sat down with Energent Group’s co-founders, Boyd Skelton and Todd Bush. We have been impressed with their product and wanted to learn more about it to feature it in our “Drilling Bits” newsletter.
In visiting with Boyd and Todd, we reviewed their tool set that allows users to become proactive in their oilfield businesses. In the past two-and-a-half years, they state that approximately 4,500 folks are using their tools with the data that they provide. Todd said, “I have experienced the difficulties of finding meaningful and actionable insights through oil and gas data research. Our solution simplifies the process and delivers upstream intelligence based upon your needs.” Some of the key benefits their tool provides are monitoring unconventional drilling and completion activity; tracking your prospects and peers; sharing this local knowledge with your teams; and planning and allocating resources efficiently. All of this is done through a subscription service with no “IT guy” required to begin using their tools and data.
Some examples of their dashboards:
Both Boyd and Todd have several years in the OFS industry. Boyd worked at RigNet and Todd worked at Chevron and Rig Data. Energent Group is a market research firm that focuses solely on their clients’ needs for oil and gas information and providing them the tools to garner that business intelligence from raw data. You see there are a lot of data brokers; Energent is not one of them. They provide you with the information that isn’t obvious; they give you the information and the details to be proactive in your business. More importantly, they help you focus on the right things during the current business cycle.
For more information about Energent Group and the tools for the oilfield, seek them out at http://energentgroup.com.