In previous blogs, I wrote explaining at what point drilling for oil becomes unprofitable for oil and gas companies, also how companies are optimizing well sites, and in what ways companies have strive to remain as profitable as possible. Despite my pessimistic attitude about the current oil economy, there are some positives and an upside. In this blog I will be discussing another way companies can utilize this production downtime to optimize their well sites and projects.
Consulting
A vital way that companies can optimize their well sites is to utilize consulting on their sites and projects. Consulting will hel
p a company increase profits most efficiently, save money, and look out for the company’s best interest in mind. Depending on where a company is in a project, the use of consulting can help them be more efficient and bring down costs. Below are some examples where consulting could fit into different areas of a project.
New Well: You just drilled a new well and all you have is the gas analysis that tells you what is in the gas coming up from the well. So now what? How do you know what equipment is needed? Well, this is where a consultant can come in. Th
ey can come to your site and let you know what equipment is needed based on what your goal is. Your goal may be putting gas right into a sales line or it may be for fueling your well site equipment. No matter what it is, a consultant can analyze the gas and determine what equipment will be most economical to use to get to your end result and maximize profits.
Old Well: Old wells can depreciate in volume over time. Less gas may be flowing than when you first drilled. At this point, it would also be a good time to reach out to a consultant because the equipment you have for treating the oil and gas may be bigger than necessary when producing smaller volumes. With less production, a company can save money by downsizing equipment if they are able to.
Install and Troubleshooting: When installing new equipment, it is good to have someone who is familiar to go over the ins and outs of the equipment. A consultant can supervise and assist with installation to be sure the equipment is set up correctly and can answer any questions the customer may have.
If the equipment needs troubleshooting, a consultant can go on-site to see what the area of error is and determine what the most efficient plan of action would be. They can also advise on what can be done to prevent errors from happening again.
So bottom line, in today’s economy of low oil prices, companies are looking to maximize profits and cut costs anywhere they can. Having a consultant that you can trust and who looks out for your company’s best interests is an ideal way of making sure that any and all projects are being optimized. Here at CROFT, we do just that.
Croft offers well and equipment evaluations, site plan layout, troubleshooting, supervisor installation, project management, equipment procurement and more. When finding what equipment is necessary to continuing assistance with current equipment, Croft is here to help.
If you would like to find out more or receive a free consultation, contact us!
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