Cost


All posts for Cost

Producers employ tech innovations to keep lid on costs

ALBUQUERQUE, N.M. — Devon Energy Corp. manages all its oil operations in southeast New Mexico directly from a command-control center on the 44th floor of its Oklahoma City headquarters. Technology like WellCon, combined with a broad array of other high-tech innovations directly in the oil fields, ...

Will Fine


Posted 1 year agoLink > Dr. Daniel FineNew MexicoTechnology +25

Egyptian Exploration & Production operator aims to save US$1.5 million by improving their AFE process.

The Operator aims to improve compliance and reduce overspend by as much as 100%; which could result in an annual saving of up to US$1.5 million. Integrating your people and processes with AFE-Automation delivers total expenditure control for the Oil industry. TouchstoneEnergy's business process ...

Marcus Kelly - TouchstoneEnergy


Posted 1 year agoPress > EgyptNorth Africaexploration +8

AGR moves P1 software to cloud to enable the O&G industry’s digital transformation journey

AGR's time and cost modelling software, P1™, will now be provided as a cloud-based, Software as a Service (SaaS) solution. Moving P1™ to a cloud-based platform will not only allow users of the tool to access the very latest version of the software on demand, but also supports unlimited user regis ...

Maria Djomina - AGR


Posted 1 year agoPress > AGR SoftwareDowntime ReductionCosts +6

TouchstoneEnergy, the leading Oil and Gas IT consultancy explains how they saved a North African Oil and Gas Operator $1.5 million by automating their Approval For Expenditure process

North African Oil and Gas Operator aims to save $1.5 million by tracking AFE spend The Problem – AFE budget overspends This North African operator has been experiencing a problem that is common to many E&P companies – being the ability to accurately track AFE budgets and associated expenditure. ...

Marcus Kelly - TouchstoneEnergy


Posted 1 year agoPress > ConsultancyexplorationProduction +8

TouchstoneEnergy on location in West Africa analysing and documenting requirements for a Spend Control System

This is how Oil and Gas Companies are extracting savings from their Purchase Authorisation and Accounts Payable processes Following on from our recent feature: Spotlight on Reducing Spend in the Energy Industry , TouchstoneEnergy staff were exchanging anecdotes about other favourite experiences ...

Marcus Kelly - TouchstoneEnergy


Posted 1 year agoPress > TouchstoneNigeriaoil price +9

6 Simple Steps to transform Spend Management for Oil and Gas Companies

Are you transforming your business processes? Now's the time to take a fresh look at Spend Control. If you don't, you could fall short of the very goals you're trying to achieve Just suppose you wanted to reduce costs and yet you missed an opportunity to save hundreds of thousands of pounds? Wh ...

Marcus Kelly - TouchstoneEnergy


Posted 1 year agoPress > TouchstoneCostCosts +8

How improving their AFE (approval for expenditure request) process is saving an Egyptian Upstream Operator up to US$1.5 million annually

Egyptian Upstream Operator goes live with EnergyFlow AFE Automation and General Office processes fully integrated with INFOR SunSystems The Operator aims to improve compliance and reduce overspend by as much as 100%; which could result in an annual saving of up to US$1.5 million . TouchstoneEne ...

Marcus Kelly - TouchstoneEnergy


Posted 1 year agoPress > EgyptTouchstoneexploration +8

Supermajors’ Cost Index: How Efficient are they in Developing their Assets? | Petroleum Africa

The ‘lower for longer' oil price environment has forced oil and gas companies to look hard at their cost structures. Despite development costs accounting for more than 50% of total costs, the industry currently acks a widely accepted measure for assessing efficiency in this area.

Muktadir Ur Rahman


Posted 1 year agoLink > Supermajors Cost IndexBPShell +20

TouchstoneEnergy launches Drilling Reports & Daily Cost Tracking tool for Exploration & Production Companies

Exploration and Production Companies can now track and analyse their drilling and operational expenditure by monitoring daily costs using EnergyFlow EnergyFlow Drilling & Daily Cost Tracker Analysis & Reporting allows Cost Accountants to record and analyse operational expenditure and drilling act ...

Marcus Kelly - TouchstoneEnergy


Posted 1 year agoPress > TouchstoneexplorationProduction +7

Study: Oil, Gas Development Costs Fall, But Could Go Lower

Looking specifically at seven supermajors—BP, Royal Dutch Shell Plc (NYSE: RDS.A), Eni (NYSE: E), Chevron Corp. (NYSE: CVX), ExxonMobil Corp. (NYSE: XOM), Total (NYSE: TOT) and ConocoPhillips (NYSE: COP)—development cost per barrel of oil equivalent (boe) increased by 66% between 2011 and 2015, bu ...

Muktadir Ur Rahman


Posted 1 year agoLink > Supermajors Cost IndexBPShell +20