Top Upstream Planning Blogs of 2016 – At a Glance
2016… what a year! While the future is uncertain, it’s clear that the E&P industry has learned to do more with less, and operate more efficiently.
3esi-Enersight is committed to helping the industry learn the best ways to maximize value and efficiency while driving down costs.
In addition to our integrated solutions for upstream planning, we try to help the E&P industry succeed by hosting events for the upsteam planning community, and creating and publishing valuable SPE papers, success stories, webinars, and blog posts.
At the end of 2016, we looked to see which were our top performers according to you, our readers. Before we enter February and leave 2016 completely in the dust, here are the top 3 blog posts of 2016:
An Investigation Into Uncertainty Correlation in Resource Plays
As presented at SPE HEES, Principal Consultant Jim DuBois discusses how simply providing uncertainty data around a type curve does little to inform planners about the range of uncertainties they may be exposed to when developing an unconventional play. It is common for operators to drill a limited number of wells in a play (~6-20), produce them for a relatively short period (6 months to a year), and then create a “type curve” from the resulting data for use in economics and forecasting. This type curve can and should be refined as more data is collected, but the use of this single type curve to represent an area remains common… Read More.
Use Case: How Murphy Oil Tackled the Annual Budget Problem
Budget season – it’s inevitable. Every company, regardless of complexity or size, must generate a budget for the upcoming year. Invariably the process drags on past initial due dates or as teams jockey to make changes and relay updates along the way.
Why is budgeting so painful? Management insists that teams have tools and software to enforce an efficient budget workflow, and that procedures are in place to ensure timely budget completion.
Learn how Murphy Oil tackled “the budget problem” and now their Eagle Ford asset is not only able to convey to the corporate level the tangible effect that corporate guidance ultimately has on budget foreocasts, but they are able to take their allocated resources and maximize their economcis, targeting corporate metrics and strategy along the way. Read More.
Executive Breakfast Insights: The Hidden Costs Behind a Traditional Planning Approach
3esi-Enersight held an executive breakfast event for a cross section of planning executives from across the oil and gas industry. Leaders came together to hear peer-panelists discuss both process and people as important components of planning agility.
The panelists shared insights related to their planning processes, the shift in the nature of the questions coming from the executive suite as a result of the current environment and the increased need to communicate effectively across different planning groups and across their organizations. Questions and observations from the participants expanded the conversation, providing understanding about the challenges they face and the successes they are achieving.
What did oil and gas leaders of super majors, as well as large and small independents, identify as critical success factors in the current environment? Read More.
That wraps up our “cliff notes version” of our 3 most popular blog posts of 2016. We invite you to subscribe to the 3esi-Enersight blog for more operator use cases and upstream planning insights in 2017.
3esi-Enersight is the world leading provider of solutions for integrated strategy, planning and execution in upstream oil and gas. From the field, to the boardroom, in operations across 6 continents, 3esi-Enersight is empowering E&P organizations to maximize the value of their upstream portfolios and stay ahead of the competition. Our solutions help customers work more efficiently across teams and functions and make better strategy and planning decisions based on data they can trust.