Many companies in the oil and gas industry, especially exploration and production companies, struggle with gaining efficiencies in the management of field expense processing, which leads to unnecessary and escalating project costs. Competitive software products in upstream field report management currently in the marketplace do not help in managing the ebb and flow of expense documents, including truck tickets and invoices. They are also too costly and therefore unattainable for micro-junior, junior and some budding intermediate companies due to high annual licensing fees and per diem report fees.

The field or wellsite supervisor’s daily report is an essential component of the confirmation and approval of service invoices. Hence, breaks in the chain of buyer/supplier communication can lead to double billing, duplicate billing, hiring the same service multiple times, cost overruns and poor time management, all resulting in an unfavorable rise in non-productive time and cost overruns.

This is where Oilfield HUB is different. The lifecycle of a well involves collecting numerous engineering and status-related figures. Our HUB platform provides a full suite of services from vendor selection and assessment, to bidding and ordering, and finally to daily reporting to record all events throughout the Drilling, Completion and Construction phases of each well.

The HUB is an online supply network that integrates all gathered information from a well and contains it in one, easily linked and accessible location. This is ideal for realizing more cost efficiencies and improved performance among vendors, field personnel and head office operations.

The HUB takes away the guess work. And that results in lower operating costs!