Improve the production efficiency and uptime of your assets.
Solomon's Production Efficiency and Uptime Reliability Performance Analysis (Production Efficiency and Uptime Reliability Study) assesses upstream production operations worldwide, providing production efficiency benchmarks to participating clients. With technical data and uptime information for more than 600 O&G fields, we can construct customized benchmarks for all of the fields you operate worldwide.
Production maximization is critical to E&P companies in times of declining margins and decreasing production. Rather than base our approach to production reliability on daily sales volumes, which may be influenced by inventory changes or market constraints, we use true daily production data. Our analytics target actionable production enhancement (and unit-cost reduction) opportunities.
The objective of uptime reliability benchmarking is to measure performance relative to peer operations and quantify the incentive to improve production efficiency and enhance production. Reducing deferred production is the single best investment a producing company can make—and achieving best-in-class targets can deliver millions in incremental cash flow.
Solomon’s efficiency analysis has been implemented both offshore and onshore by companies operating on five continents. Solomon has more than 200 successfully executed upstream production efficiency benchmarking projects in its proprietary database—the broadest geographic coverage for comparative productive efficiency data in the world.
Our proprietary database
contains uptime data for
upstream benchmarking projects
and uptime data for
How Do You Compare?
Answer key questions critical to success:
- Are my operating expenses comparable with companies that have similar operations?
- How reliable are my production facilities?
- How does my facility utilization compare with that of my peers?
- Do my operations produce a competitive gross margin, accounting for the utilization and complexity of my facilities?
- How do I compare across the range of performance in the industry?
- How well do I manage my planned and unplanned production losses?
Learn How You Can Participate
Obtain a clear picture of your competitive position with data-driven, actionable insight. Make informed decisions and justify your strategies and improvement projects.
"If you always do what you always did, you will always get what you always got." ALBERT EINSTEIN
Data Quality, Benchmarking Methodology
A Foundation for Effective Comparative Performance Analysis and Decision Support
We prioritize the integrity and confidentiality of participant-submitted data and rigorously review that data before benchmarking begins. Then, we employ our normalization process and benchmarking methodology to provide valuable and trusted peer group comparisons that deliver meaningful KPIs. Finally, our staff of senior consultants apply their deep industry experience to develop practical insight and recommendations to enable your success.
Additional Studies & Analysis
With 30+ years of upstream benchmarking experience and the world’s largest database of upstream performance data and metrics, Solomon knows what “good” looks like for any given type of operation. The Offshore Study assesses your performance against peers and identifies cost and production improvement opportunities. The study focuses on critical KPIs, including operating cost, cost drivers, production efficiency, and uptime reliability.
If your organization is new to one of our studies or has experienced challenges completing the study data input forms, Solomon can help. Data quality and a proven benchmarking methodology enable results and insight you can trust. Contact us today!