Letter from the Publisher
Our industry continues to invest in the future despite the price of WTI and Brent Crude hovering around $45 per barrel for what has seemed like an eternity. Increases in U.S. rig counts, equipment, staff, and operating budgets have been replaced (and rightfully so) by investments in streamlined processes – all in preparation for the next surge in oil prices. As you will see in our feature article “Readying for the Next Run” (page 24) efficient processes and access to data are the new king. Excel spreadsheets just won’t cut it anymore especially if your organization has a lot of moving parts and people. And now is the time to take action. Information will be like gold moving forward and the quicker you can get it, see it, and use it to make key decisions the more valuable it is. Where are the redundancies? What technologies are we using? What technologies should we be using? How can we streamline our billing/invoicing/inventory? Who are our most profitable customers? How can all this make us a stronger organization and more profitable? One, two, five, ten years from now? These are the questions that are not just being asked right now, they’re being acted upon.
Oil and gas companies are regularly faced with many industry-specific issues to overcome. Such issues, including exploration and drilling, are often complex and intricate processes with many unique challenges to overcome. Data analytics can play a massive part in streamlining some of the most fundamental operations that are involved in the oil and gas industry.