CASE STUDY
Improved Equipment Operations Through Analytics to Reduce Cost by 50% for Oil and Gas Production Company
Challenge
An oil and gas production company faced increasing production costs and had little to no visibility into field operations.
The company needed help to proactively improve the transparency of its operating metrics by implementing predictive analytics dashboards for field operations.
Approach
- Introduced descriptive analytics and identified historical trends using data being generated by oil field operations
- Developed dashboards that display cross-functional KPIs providing greater business and operational visibility for leadership, management, and operators
- Implemented statistical model that predicted issues and downtime events for equipment, enabling proactive prevention and increased productivity
Results
I.
50% reduction in maintenance costs
II.
Minimized lost production driving a 15%+ CAPEX reduction
Results
I.
50% reduction in maintenance costs
II.
Minimized lost production driving a 15%+ CAPEX reduction
CLIENT TESTIMONIAL
“Finally, I can “see” our business performance real-time . . . We are more in control of our processes, people and budgets.”
Client Management Team Member
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