Improving Forecasting and Utilization for Oil & Gas Service Provider

A Texas based Oil & Gas provider that maintains andinstalls pumping equipment, provides engineering services, and offers monitoring services for product quality assurance.

This client had historically experienced unpredictable changes in their forecasting model. These changes resulted in lower asset utilization and forecasting anomalies that were extremely costly to fix. The client used a 5-year model and a quarterly plan to create a monthly production and revenue forecast. Unexpected abnormalities could automatically cause their report to adjust the monthly estimates of output and income and disrupt the drilling process. As a result, if an alert were inadvertently triggered and caused a production shutdown, the client would lose millions of dollars in unnecessary downtime.