TULSA, Okla., March 28, 2019 – A Texas-based upstream oil and gas company is seeing significant gains in operational efficiency as the result of the rollout of a digital transformation initiative facilitated by Stonebridge Consulting.
The effort was the first phase of a long-term roadmap that Stonebridge laid out for this Permian-focused operator. It primarily focused on laying a digital foundation and closing the gaps on various data and technology issues. This included process optimization, data optimization, implementation of various line-of-business technologies and automation of well data management utilizing EnerHub™, Stonebridge’s enterprise data management solution.
Since the phase-one deployment, the company has achieved measurable operational outcomes, including:
- Easier departmental collaboration and data-driven decision-making via automations across operations, land, production, accounting and corporate planning
- Improved corporate planning metrics and financial models
- 65 percent reduction in staff time spent verifying data
- 20 percent time-savings for searching and consolidating data for monthly reporting
- 90,000 data quality exceptions identified and resolved across land, reservoir, production accounting, and site and well data management systems
- Advanced analytics and executive dashboards designed for upper-level management
“The operational gains our client has experienced from the phase-one rollout demonstrate how disciplined data management capabilities and governance form the core of their digital strategy,” said Stonebridge Managing Director Amy Moore, who oversees the client relationship.
The rollout addressed a broad range of business advisory and technology areas, including:
- Digital Data Foundation – Stonebridge ensured data is captured correctly in core systems in a consistent way through implementation of new data procedures and the EnerHub Data Quality Module. This advance has increased the maturity of the company’s data governance by using automation to proactively address data quality and improve data integration between applications.
- Process Optimization – Stonebridge worked hand in hand with the client to define new processes around well planning, corporate planning, land and well setup. Processes are now automated around new well setup and maintenance for improved well-creation visibility across the enterprise. Well master data is continually updated through the well lifecycle and synched in subscribing systems via the EnerHub Master Data Module. This process helps the company save significant time by reducing redundant data entries in multiple systems.
- Advanced Analytics and Reporting – Stonebridge deployed a standard well data portal using the EnerHub Energy Portal. Users can now search and look for wells using multisystem hierarchy and maps. In addition, Stonebridge created three executive dashboards, accessible via the Energy Portal and used by multiple departments, for near real-time tracking of key operational metrics, to include:
- Lease Operating Statement (LOS)
- Capital Spend
- Approval for Expenditure (AFE)
- Business Enablement and Change Management – Stonebridge advised the client in defining new organization models and facilitated the rollout of solutions through comprehensive communications and role-based training.
The phase-one efforts were based on recommendations from a data management assessment Stonebridge performed last year for the operator. Stonebridge analyzed the company’s enterprise data strategy and existing systems, and identified areas of improvement in business processes, inter-departmental collaboration, system optimization, and data quality and integration.
Stonebridge Managing Director Kate Stevenson said, “Our client went through significant change to lay a strong and stable digital foundation to build upon. Many oil and gas companies ask themselves if it’s possible to undergo this digital journey. This client is proof that it is possible and significant gains can be realized.”
About Stonebridge Consulting, LLC
Stonebridge Consulting provides business advisory and technology services for next-gen oil and gas. We serve the oil and gas industry exclusively. Our industry expertise, proven methodologies, and extensive project IP and solution accelerators enable us to deliver projects faster, generating measurable improvements in operational efficiency and saving project time and costs by as much as 50 percent. More information about Stonebridge is available at www.sbconsulting.com.
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