Five Ways Leaders Can Reduce Their Operating Expenses
Your firm has experienced a few good months recently. Maybe you’ve successfully acquired additional wells, finally have a smooth land administration process or efficient transportation strategies. Yet – when viewing your most recent quarterly reports, you notice the margins appear tighter than forecasted – thanks to inadequate controls on your operating expenses. This article provides actionable […]
How Data Analytics Will Improve Your Business
Data is everywhere. It’s constantly collected, analyzed, and used by businesses of every shape, size, and description. However, not all data is created equal. As a business owner, you must determine the essential key performance indicators (KPIs) that will help you grow. That’s the end goal of data analytics: To drill down through the crust […]
Understanding the 4 Types of Data Analytics
Companies increasingly grapple with how to handle the sheer amount of information they can collect from customers and business partners. Data analytics helps them sort, parse, and convert raw data into key performance indicators (KPIs) and actionable business intelligence. The methods by which we analyze data can be sorted into four core categories. These four […]
Using Big Data Analytics for Oil & Gas
While the concept of “big data” has been in the public consciousness for several years now, far too few companies actually take advantage of what it offers. They’re convinced that it doesn’t apply to them, that it costs too much, or that it’s just not right for them right now. In reality, big data analytics […]
How to Leverage Technology to Cut Costs & Achieve Growth
In this article, we’ll focus on four proven technology approaches that can benefit your upstream and midstream oil and gas company. These approaches will address your current struggles, position your company to scale, and streamline your operations to weather the next time the business cycle points downward. 1. Digitize Your Back Office and Field Operations […]
6 Essential Elements of a Business Risk Assessment
As the adage goes, “An ounce of prevention is worth a pound of cure.” Unfortunately, far too many people fail to embrace this truth and never prepare for the unknown. We’ve discovered 6 essential elements for conducting a business risk assessment that protects your company. Being prepared will always give your business the upper hand […]
Leveraging Technology to Cut Costs & Concerns
The energy industry is very cyclical and, while companies should take advantage of economic ups and market changes that give them an edge, it is imperative to keep in mind that a downturn will follow. It is easy to focus on growth without having a Plan B, which causes concern as companies depend heavily on […]
How Covid-19 Changed the Oil & Gas Industry
If you visited Midland, TX today, it would look like the pandemic never happened. People are returning to their usual activities, and oil and gas (O&G) companies are back up and running. The industry has even started holding in-person events again. We’re a far cry from Spring 2020, when the world came to a screeching […]
The Reality of Digital Process Automation
When companies grow and diversify, they frequently find themselves facing a good, yet frustrating problem: their success has created the need to simplify core processes so people can focus on more specialized work. While the assembly line has been the solution for traditional companies, modern businesses need to look to digital process automation (DPA) for […]
Machine Learning in the Oil & Gas Industry
From checking your email and scrolling through Netflix to self-driving cars and healthcare decisions, machine learning is a large part of our daily world. However, most of us assume it’s used only by people building artificially intelligent robots. In reality, it’s all around us, but most people don’t understand the technology or its larger applications […]