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As we’ve met more companies and gotten to know their processes, the same question comes up: Is your company utilizing analytics? The answer varies from company to company but there is a consistent pattern to all their answers. While many companies are using some kind of analytics, they’re not using the right analytics; or worse, they aren’t even collecting the proper data in order to make their analysis beneficial. As big data sweeps into the oil and gas industry, it’s clear that those companies who are slow to incorporate data and analytics into their process will be the companies who fall behind.
We’ve put together a comprehensive white paper explaining this issue and how to solve it. It’s time to ask yourself, before it’s too late, Are you ready to compete in the age of analytics?
First, the good news. Since the height of the pandemic in 2020, exploration and production companies (E&Ps) have reduced their net debt from a high of $316.74 billion to $178.66 billion at the end of 2022. According to CreditSights senior analyst Charles Johnston, most independent E&Ps refinanced and now pay less than the double-digit interest […]
Although oil and gas producers are trying to get more out of existing wells than from drilling new ones, 2023 is on pace to be a record year for domestic oil and gas production. In this period of reduced exploration but peak output, wireline service companies and fracking service companies could greatly benefit from using […]
Oil exploration is expensive, and not without its risks, but it can be quite lucrative for a production company when a substantial reserve is identified. However, many oil fields are in remote, hard-to-reach locations. Before upstream activities like drilling and extraction can take place, a service company is contracted to construct one or more roads […]
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