Efficient Oilfield Operations: Cost Saving

Posted by Daria Maksymiak on October 14th, 2019

Did you know that unaccounted revenue loss in the Oilfield Service business can be as high as 15-20%. The truth is that very few companies can effectively identify and close-up revenue leaks. As a result many know there are revenue leaks, but unfortunately can't do much to stop them. But there is a good news, there's a way to find and stop both real and potential leaks. A system can be put in place that would capture all operational information in one place, which could also auto-generate daily or weekly reports on equipment utilization, client performance, repairs and maintenance reports and more ... all in one and no more leaks!

RigER is designed specifically to help our customers improve their operations and boost efficiency. Here are some of the cost saving benefits you get using RigER:

Scalability enables growth and expansion into new regions at a lower cost.
Avoid loss of revenue due to the lost equipment in the field or in transit. Knowing the location/jobs/clients of the equipment and who is responsible for it at any given moment will help understand how many units are unaccounted for and then will help drive the cost to 0% as you will have the latest into timely follow up.
Avoid loss of revenue due to un-billed services. System excludes loss and misplacing rental tickets for services delivered as well as reduces services that have not been unaccounted for.
Avoid loss of productivity due to double data entry which can cost the company 15% of revenue at minimum. RigER takes care of the hard work of keeping track of information by keeping it one system: generating tickets, calculating invoices, tracking days, people and jobs, analyzing operational performance of individual or grouped rental units, personnel, clients etc.

No more delayed invoicing. Implementing RigER has proven to speed up invoicing time at least 10 times as compared to paper-based invoice processing thanks to the digital transfer of the ticket info from the field to the office. Additional improvement is achieved when RigER-to-QuickBooks integration is set up, which results in further time savings.

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About the Author

Daria Maksymiak
Joined: October 14th, 2019
Articles Posted: 1