Tips, Tricks & Inside Info For Oilfield HUB

In a recent report by Ernst and Young most oil and gas projects exceed initial AFE budgets by 59% and in an industry survey by Alix Partners only 19% of respondents stated their projects finished on budget. Oilfield HUB provides our Producer and EPC clients with a low cost alternative to spreadsheets to record and report on actual field costs against AFE budgets. Our customers are building a comprehensive database and information repository surrounding their operating and capital costs for a wide range of projects including Drilling, Completion, Workover, Recompletion, Abandonment, Construction, CleanUp and Reclamation.

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The oil and gas industry is heavily reliant on contractors and service companies to complete the vast majority of field project work yet most companies don’t have readily accessible vendor depth charts. The Preferred Vendor Manager module enables Oilfield HUB clients to create, rank and manage vendor depth charts for any number of biddable and field approved services, supplies and rentals. Custom depth charts generally include from 2 to 7 vendors, or more, depending on the bench strength of the qualified vendors involved.

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Many micro-junior, through to intermediate oil & gas companies are still administering a handful to thousands of wells, along with the multitude of drilling and completion projects, using individual spreadsheets. In a recent industry survey, only 39% of respondents, and just 30% of oil and gas drillers, reported having a robust series of checks and balances in place to ensure projects stay on track and within budget. Oilfield HUB provides a built in means to easily organize static and dynamic well and project data by division, region, field, pad, and UWI for your Construction, Drilling, Completion, CleanUp, Worker, Recompilation, Workover and Abandonment projects.

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