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Reduce operating expenses
Operating expenses often escalate due to excessive manual data collection, the inability to find and retain qualified personnel, poor tracking and accountability of service companies, “Lost and Unaccounted For” product, and a general lack of visibility into field operations. As a result, many Midstream companies are struggling with high labor, transportation, and maintenance expenses.
Minimize unplanned downtime
Reducing unplanned downtime is critical for Oil & Gas operators as it both defers topline revenue and affects bottom line costs. With so many points of failure on a well including pressures, surface equipment and compressors that cause shut-in, operators face missed production targets and increased overtime and repair costs.
Ensure safety and regulatory compliance
Safety and regulatory compliance requirements have increased substantially over the past few years. Operators deal with unexpected incidents, injuries, vehicle accidents and property damage due to an expanding workforce. More stringent permitting requirements, spills and site remediation costs, and a lack of sufficient chain of custody of production data all lead to expensive legal fees and fines.
To address these challenges, Midstream companies are seeking to implement a number of best practices and operational strategies including:
Prioritize your activities based upon criticality and optimize your resources to reduce labor cost, transportation costs, and unplanned downtime.
Remove unnecessary manual processes from your operations and repurpose your workforce on higher value activities to minimize transportation and labor costs and risk of incidents.
Spot problems before they occur by monitoring critical set points to reduce your equipment maintenance and repair costs.
Build a complete picture of well conditions by integrating all critical production data – wellhead, line pressures, separators, compressors, storage tanks, chemical tanks, VRU’s, flares and hazardous gas monitoring – to make more informed and timely strategic and operational decisions.
Combining a WellAware custom-built RPMA® network, radios, and mobile software to monitor injection rates and pressures in real-time and provide specific reports, a major E&P company reported an avoidance of up to $900K in quarterly fines and 90% reduction in report preparation time.
By implementing a WellAware cellular-based network, radios, and mobile software to monitor gas system pressure points and overall pipeline health in real time, Burk Royalty Co. reported a reduction in downtime of 75-80% and improved operational efficiency of 85-90%.
reducing operating expenses
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