Capture large, operational-cost savings and maximize operational uptime in your thermal oil sands project.
Solomon’s Thermal Oil Sands Operations Performance Analysis (Thermal Oil Sands Study) can help you uncover key areas of underperformance in your operations. Root-cause analysis can then be used to identify methods to reduce costs and maximize production. The result is a series of cost-reduction steps that you can take immediately.
While production from thermal in situ oil sands projects will grow, margins are under pressure from cost escalation and low sales prices. To remain competitive, operators must understand what drives good operating performance, and how to improve steam and production operations. As key information is not always readily available, it is often not easy to determine which operating areas offer the greatest potential for meaningful savings and whether operations are at maximum uptime.
The study compares your total unit operating costs to those of your peers and provides in-depth analysis of production and plant operations by cost category. It also assesses the production efficiency of your project’s deferred revenue and identifies production-improvement targets. Many companies capture large operating-cost savings through our asset benchmarking.
Solomon's categories of key controllable costs distill complex problems into three main areas: steam plant, energy use, and field operations. Once we have categorized a problem, we investigate category subclassifications to focus on specific cost opportunities. In addition, we identify excessive expenses and the savings potential for each important cost category for every project.
Solomon’s benchmarking service is the industry standard for gaining objective insight into improvement opportunities and supporting your decision-making process.
Answer key questions critical to success:
- How reliable are my facilities?
- How does my equipment utilization compare with that of others?
- Are my operating expenses comparable to those of companies with similar facilities?
- Do my facilities produce a competitive gross margin, accounting for my utilization and complexity?
- How do I compare across the range of performance in the industry?
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!