Achieving a Digital Finance Organization in 2020 [Auxis Webinar - December 11...
Taking the Guesswork Out of AFE Reporting
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4. Every Dollar Counts
Cost control is now a top priority as we must not only continue to increase
production, reserves and capacity, but also demonstrate discipline in managing
capital and operational expenses.
The answer is not to halt all spending. We must instead become smarter and more
purposeful with our investments to ensure the best returns. If you can clearly
and consistently demonstrate capital discipline to boost profitability per well and
maximize internal rates of return, you will maintain a competitive advantage over
your industry peers.
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6. During the execution phase of a project, effective cost control can be difficult due to
the rate at which projects often change. In the matter of just a day or two, an under
budget project can go over budget, which makes it difficult to compete in a market
where access to capital is getting tighter and the near future of the industry is so
uncertain.
If you are concerned with demonstrating competency in
cost control as an organization, you are not alone.
Cost Creep is Common
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30. Are we monitoring costs with
the scrutiny that stakeholders
expect?
What are the potential risks
in our costs and capital
expenditures?
What is our budget versus
the actual numbers?
Are we on track to hit our
numbers? If not, how much
are we off?
Which plays, fields, leases,
and wells do we need to
focus most of our attention?
Where can we cut costs?
Questions to ask yourself
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51. LET’S GET STARTED
Ready to dramatically increase your ability to control and predict
AFE spend? Give Entrance a call for free on-site demo of our AFE
dashboards and an initial consultation.
If you need help earlier in the AFE process, we can also help you
automate your manual AFE creation and approval processes with
streamlined workflows.
Entrance helps leading oil and gas companies buy, build and
implement software and information management solutions that
deliver better business results and reduce non-productive time.
Other Big Data and Analytics solutions we can provide for
business and engineering challenges include:
• Production Reporting and Forecasting
• Decline Curve Analysis
• Non-productive Time Analysis
• Asset High-grading
• Drilling and Completions Analysis
entranceconsulting.com
1-888-343-KNOW
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