Solomon announces the launch of its bi-annual Worldwide Onshore Production Operations Performance Analysis Study (Onshore Study) for operating years 2018 and 2019. This global study assesses the performance of similar types of onshore operations (e.g. primary, secondary, and EOR including steam injection) regionally and globally.
The study’s goal is to help operators optimize and improve their onshore operations, enhance production efficiency, and combat the impact of volatile oil prices on operating margins.
More than 17 exploration and production (E&P) onshore operators with over 136 individual onshore assets participated in the previous study.
For the last 25 years, Solomon has conducted numerous onshore benchmarking studies for a large number of producing operators, assessing more than 3,800 onshore assets around the world. Most of these assets have been included in Solomon’s studies multiple times in various years.
Solomon has pioneered normalization methodologies for major cost categories that enhance peer-to-peer asset performance comparisons by leveling the playing field for the scale and complexity of operations. The normalized metrics augment Solomon’s traditional in-basin peer group comparisons.
Participation will enable clients to drive their onshore operations performance to higher levels of excellence and establish their companies’ competitive position among onshore operators. The study kick-off meetings will begin in November 2019. Data gathering will begin in early 2020, when full-year cost data is available.