It is easy to focus on short-term cost savings in the oil and gas industry. After all, price pressures are making it difficult to be profitable. The last thing you may be considering is new technology. However, investing in modern SCADA for oil & gas may be just the thing you need to create cost-savings today and sustainable, long-term profitability tomorrow. Fully embracing digital strategies will result in production improvements and lower lease operating expense now and in the future.
Digital Strategies are Important for Success
A recent report by Bain & Company provides a framework for oil & gas companies to implement digital strategies in their operations. This study stresses the importance of an integrated digital strategy in order to see “dramatic cost savings and significant improvements in productivity and revenue.” Even so, the report states that most companies have not yet captured the full value of their data because they are unable to generate actionable insights or make faster decisions.
Current Strategies for Future Success
Digital oil & gas automation is available today to help companies use the vast amounts of data collected to make better decisions. Better decisions will result in lower lease operating expenses and greater profitability. How can this be achieved? Consider these three winning strategies for digital oil & gas automation.
- Consider the Future: It can be easy to focus on today’s operations. After all, survival depends on shaving pennies off of operational costs. There are many opportunities today to use digital technology to cut costs. However, you should consider how you will implement technology to affect your future operations, as well. It is important that your current digital automation does not prevent future enhancements.
- Change Your Operating Model: It’s time to eliminate functional silos. If you capture real-time data, but don’t integrate it with your other operations, you are not gaining the full value of your digital operations. SCADA integration allows your operational data to flow through to your other systems for greater control, better reporting, and improved analysis. When these systems are integrated, you can take advantage of real-time data to improve your operations.
- Hire Technical Expertise: Modern SCADA for oil & gas requires a new set of skills that you may not have available to you today. Training your employees and managers to operate the digital systems and utilize the reporting is an important part of gaining the full potential of modern SCADA systems. When you don’t have the capacity in-house, there are options for retaining technical expertise through consultants or hosted digital services.
Cloud Based SCADA Solutions Usher in Digital Strategies
You might be thinking that this is all great in theory, but is it really practical in today’s economic environment? In fact, digital technologies exist that can lower your costs today and provide you with future enhancements for growth.
Cloud based SCADA solutions can gather and analyze the vast quantities of data that you already have available in your operations. By communicating with your current measurement systems, these SCADA systems let you eliminate manual data entry. They also provide you with real-time data for improved operational decisions.
Using business intelligence tools, you can analyze your operations to create new, more profitable procedures. With integrated systems, you not only improve worker productivity, but you also can be assured that all parts of the company are working with the most reliable data.
Our cloud based SCADA system, AccuTrac5, is available in a hosted environment. This means that you don’t have high up-front costs and you don’t need technical staff in house. You only pay for what you need, reducing lease operating expense.
AccuTrac5: Cloud Based SCADA for a Digital Future
If you would like to lower lease operating expense today and prepare for a more profitable future, take a look at what our cloud based SCADA system can do for you.
Contact AccuTrac Technologies for a demonstration and pricing.