Monitoring Crude Extraction Expenses Through Advance Rig Scheduling

Monitoring Crude

Introduction to Rig Schedulers

Due to its dynamic and critical nature, the Oil & Gas sector needs, a specialized management approach to deal with its operational challenges. Monitoring Crude Crude It is important to deploy the best available technologies and methods, while out on an exploration.  Since the stakes are very high, it is extremely important to manage and deploy field asset thoughtfully, to gain maximum performance visibility.  This is where advance Rig Scheduler comes into play, with their ability to monitor and optimize drilling performances at multiple sites. Due to the massive nature of Oil & gas projects, it is important to establish a real-time interface with the field asset and organizational financial systems, which is carried out by advance rig schedulers. It is necessary for the planners to have real-time field information so that they can be proactive with their strategies.

The need for an advance Rig Scheduler

  • Less time in handling and managing rig schedules than done manually.
  • Increased mobility, enabling managers to allocate or re-allocate rig activities, while on the move internationally.
  • Real-time change visualization of operations on the account of asset allocation.
  • Increased communication and coordination with field staff.
  • Graphical analysis of rig downtimes along with its root cause analysis.

Features of an advance Rig Scheduler

Advance rig schedulers are very important for the proper planning and development of the project. A critical project like oil & gas has many constraints like a number of rigs available for operations, special functionality rigs, no real-time visibility of project cost overrun, etc. This is where, advance rig schedulers come into play, with their enhanced capabilities, empowering organizations with real-time data on drilling sequence and cost associated with it. With high upfront investments and long rig deployment needs, organizations must optimize rig operations, because the same can have a detrimental impact on the project, if not managed properly. Advance rig schedulers can be configured to send reports and alerts after a job is completed. The same can also be modeled to give on job progress reports along with a financial analysis of the particular job.  This helps the organization keep a tab on the project as well as prevent any leakage in terms of bad expenditure.

The CIOs around the oil and gas industry is looking out for an integrated asset modeling tool, which optimizes rig planning operations and proactively understands the range of uncertainties associated with the job. Smart short-term budget allocations are made easy with the enhance project visualization of near-term drilling schedules. Oil & gas sector today needs the much-needed boost in terms of various types of rig deployed and their respective mobilization cost associated with it, along with the standby rates of each of them. Advance rig schedulers should also incorporate rig mobilization dates along with the seasonal factors, to churn out a robust extraction plan.

It is important to have a highly intuitive tool at hand when it comes to rig management, which can effortlessly integrate with organizations legacy systems.  The technology should be able to integrate itself with well delivery and operation manager. Organizations do have specific challenges, which needs to be addressed carefully with tailor-made solutions. This is why a good technology partner is very important, who will understand the system requirement thoroughly and come out with innovative solutions. They should be able to deliver the implementation project on time with ‘zero data loss”, during the migration phase.

Benefits of the advance rig scheduler

An advance rig scheduling must be able to monitor the rig utilization metrics, which is very much needed for course correction measures. The technology should have the leverage of re-planning and re-budgeting of the project. This capability is essential, as oil & gas projects are highly volatile in nature and require constant course correction.  One must keep in mind that every activity is associated with cost, which requires a specialized approach.  The advanced software comes with a very informative dashboard, which provides a holistic view of the project. With the help of this technology, managers can reduce planned vs actual cost deviations. Some other key systems, with which advance rig schedulers can be integrated are AFE (authorization for expenditure) software, well operational manager, documentation manager and accounting ERP systems of the organization. Another awesome aspect of this rig scheduler is that the same can be fully implemented along with end-user training, within 9 to10 weeks’ time period.

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