Performance Achievement insight & monitoring into upstream operations
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What is the WLDS?
We understand your business is driven by daily activities and needs quick and accurate information upon which to base your decisions. Oil and gas software optimization is key. Upstream Professionals, Inc. (UPI) has formed a strategic alliance with Information Builders, Inc. (IBI) to create the Well Lifecycle Dashboard Solution (WLDS) to provide an environment that fosters performance achievement based on immediate, reliable intelligence.
The Upstream Professionals Management Team believes the next major industry initiative is going to be in systems and services that streamline operational capabilities and provide immediate, accurate, integrated information for informed decision-making and continuous monitoring and analytics of oil field Assets key performance indicators. Our Philosophy is that accounting systems are good for keeping score, but optimizing operational efficiencies puts points on the Scoreboard.
With financial, drilling, production, reserves, and project planning data stored in multiple, disparate database systems, a unified solution that pulls data from all sources and integrates the results within Business Intelligence reports makes good business sense. The WLDS delivers information quickly and easily to all users, including all levels of management in easily constructed views and reports. The system provides monitoring, analysis and decision support tools that increase the efficiency and profitability of drilling and production operations.
The Well Lifecycle Dashboard Solution (WLDS) is designed to give deep insight into your oilfield assets operation’s performance. This solution will embed cost controls and set metrics for monitoring, managing, and controlling your upstream operations environment performance achievements. The system also has the ability to drill down to the detail level in problematic areas. Your business will have a consistent platform for monitoring and managing key information among your asset teams for immediate insight into your operations performance to help you run your business most efficiently, and effectively.
Well Lifecycle Dashboard Framework
The UPI WLDS Framework approach drives Best Practices and sets parameters to visually monitor, analyze and report key information elements and performance achievements about your oil field Assets with oil and gas software optimization. This is achieved through a series of Dashboards, Scorecards and Reports throughout the lifecycle of the well.
UPI will leverage our proven Methodology approach to optimizing operational efficiencies, and the skilled resources to maximize your investment in our proposed solution. This solution leverages; your existing environment, the UPI Data Model, Best Practices and Key Performance Indicators (KPI’s), and Information Builders robust business intelligence tools and software.
Upstream Professionals will also identify any additional oil and gas software optimization platforms and interfaces requirements that best fit the needs of the company. When a client engages Upstream Professionals to conduct business, they will be clear on the Key Performance Indicators to drive Dashboards, Scorecards, and well-defined Performance Achievements and understand and measure the business impact value of the proposed goals, objectives and deliverables.
| PRODUCTION-related KPIs | Description |
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Forecasted vs. Actual Production | Comparison of budgeted to actual production quantities. Drill down based on down times, outstanding action items affecting production. |
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Production Increase From Capital | Production quantities before and after a capital expenditure. Drill down based on drilling and work-over projects. |
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Gross / Net Production | Comparison of gross to net production quantities. Drill down based on refinement of oil, gas and water mixture and other exogenous factors. |
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| Production Downtime | Daily and monthly downtime summaries. Drill down to each incident, cause and potential impact. |
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| Allocated Production Reviews | Allocated Production Reviews by Day or Month. Drill downs provide accuracy assessment. |
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Budgeted vs. Actual Cost | Summary of budget and actual costs. Drill downs include invoice level items, summarized by accounting categories. |
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Drilling Inventory Schedules and Reserves | Inventory assessments based reserve and production scheduled usage. |
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| Well Performance Ranking | Rankings based on well production, actual versus capability percentage, and downtime. Drill downs permit identification of the best 10 or worst 10 wells and listings by other demographic parameters. |
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NAV per share | Present value of risked oil and gas reserves plus other company assets divided by fully diluted shares outstanding. |
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Key Performance Indicators
To ensure efficient oil and gas upstream operations, there are many metrics that need to be monitored, several of which are used as Key Performance Indicators (KPIs). UPI has developed a comprehensive set of data sub-models within its proprietary Data Model that define the relationships and data sources required to tailor meaningful KPI-driven Dashboards for a client that are critical to running their business, and consistent with their existing business processes. The first KPIs focus on Production to improve performance.
Key Performance Indicators are critical for measuring performance benchmarks. Thresholds are set for minimal performance achievement expectations, and any violations of these thresholds are immediately flagged for review. This is most helpful for companies with multiple processes, workflows and resource limitations.
Upstream Professionals, Inc. (UPI) has identified nine high-level Key Performance Indicators that will assist companies in the Oil and Gas industry drive more profits by isolating problems before they begin to deteriorate the bottom line. A white paper will be provided to each participating company that explains how UPI’s modeldriven architecture provides the flexibility to create customized KPIs within a framework of the industry’s measurable well metrics, as well as the specific metrics behind each KPI.
Benefits of Oil and Gas Software Optimization
The focus of our efforts is to streamline your workflow, leverage your current systems, and add high-impact Business Intelligence functionality and clarity to your existing environment. UPI has modified our Framework, oil and gas software optimization, to address the need to continuously monitor, analyze, and control performance achievements, through the customization of Dashboards, Scorecards and Analytical Reports for immediate and reliable insight into your business operations.
This Solution will benefit your company by improving your overall operations efficiencies and capital management. The WLDS will tie multiple departments together around your oilfield assets, and will link multi-disciplined teams into a collaborative environment focused on predictive analysis for future events and immediate monitoring of key metrics for performance.
Well Lifecycle Dashboard Solution and oil and gas software optimization provides the capabilities clients need to better understand and manage their oil field assets and increase productivity and control costs. This solution will save companies time and labor while increasing visibility of opportunities within their assets