2. A system for putting together the people, processes, and
technology that fuel the best decisions and the maximum return
on investment along the life cycle of an oil and gas asset.
What is a Well Life Cycle Framework?
All information and data that
enables navigation toward your
business goals must follow efficient
paths to reach their destinations
accurately and timely.
A company asset / well master
strategy will enable your asset-based
data to be positioned for use across
departments and disciplines and will
facilitate collaboration among
company team members.
A Well Lifecylce Framework methodology
approach to your business details will
ensure the technology and supportive
process is in place to achieve maximum
data and information discipline success.
It makes your success intentional instead
Guiding Principles of
Oil & Gas Operational
4. Drilling /
Profit / Loss
Issues with Siloed
It is common for E&P companies
to use multiple vendors for
different aspects of the well life
cycle. But when data from those
systems is not integrated, it can
result in (among other things):
• Budget overspending
• Under-spent capital can’t be reinvested
• Multiple data entries (resulting in errors)
• Inaccurate or dated reporting
• Delays in the form of work stoppages or
• Reporting that has to be manually
Profit / Loss
Data Integration is Key
Data that has a single point of truth empowers
your operation across all departments. It allows
you to react to operational problems quickly, avoid
errors and bottlenecks, and identify and exploit
Total Asset Manager™ integrates with your
designated oil and gas applications—including
spreadsheets—and establishes a central
repository of information. Data can then be
pulled from these applications. From there, it
is configured into useful business intelligence,
performance metrics, and reports that are
displayed on the dashboard. This gives the ability
to readily share information across disciplines
and departments. Updates and allocations are
automatically performed as soon as data becomes
available, making reports up-to-date and accurate.
7. Realistically define the benefits of working with
the right technology, people, and processes.
Here are a few benefits to get you started:
• Higher return on invested capital
• Better use of team skills to execute decisions
• Information in real-time for tighter controls in costs and revenues
• Improved use of human resources through defined processes
• A team rallied around a vision with passion always gets better results
• Flexibility to make rapid decisions
8. Create a road map to execute the vision.
Make a detailed plan that will allow you to arrive at your goals.
Here are some questions to ask yourself:
• What makes your business work?
• Why does it exist? Solicit employee input.
• What do you want in the next 3 to 5 years? Do you want to improve employee
retention, grow your company, increase profits, give back to community, improve
• What will it take to get there? Be specific.
Put your plan in writing and make sure that you can measure
what you aim for. Say who is going to do what and set a time line.
9. Build the team to travel the road map to its
Having unity for your vision across your operation will allow all personnel
to feel confident and eager in their roles, and build solidarity in striving
for the same level of excellence.
• Delegate key personnel to lead the charge in supporting your vision. These people will keep
everyone involved through the entire process and following a common goal.
• Select the right team carefully. Make sure they have the skills for the job in hand and a mixture
of people with different abilities. Together they should represent all the skills you will need.
Make sure they have the ability to get along well with others.
• Clearly define your expectations for chain of command, responsibilities, and reporting
structures at the onset. Delegate tasks to the right person and make it clear who has the
authority in that task.
• Make sure your goals are clearly understood. Set early goals that are achievable to empower
• Communicate... Cooperate... Communicate... Cooperate
10. Sustain success through solid processes.
The processes you create will help ensure a reduction in errors,
increased communication (and availability of information), reduce
downtime, increase productivity, and help you address all situations
quickly and decisively.
11. Consistency in collecting data
Clarity in every piece of data captured
Continuity in technical and human processes
Collaboration across disciplines and departments
Which leads to...
With your plan and processes in place,
you will experience
13. GAIN INSIGHTS THAT WILL MAXIMIZE
YOUR PRODUCTION AND OPERATIONS.
Our staff of experienced professionals is happy to
consult with you about data management practices
and solutions. Feel free to contact us with any
questions you may have.