Custom Software Apps & SharePoint Consulting

Risk Mitigation Through Technology

Risks are a part of daily life in the oil and gas industry. And because they are many, varied and unpredictable, software product companies cannot keep up with industry needs. We specialize in creating custom business solutions that respond to changes impacting the Oil and Gas industry long before anyone else comes to the table. We like to think that preparation, visibility, and communication are vital to mitigating risk – and are all aspects that can be improved with good data.

Are you prepared?  Our client is!

Early warning through Notifications

When faced with regulatory changes and a rise in the consequences of being out of compliance, our client chose to create a system that could track operational aspects and warn stake holders in advance of non-compliance. Entrance plotted out the data points needed to determine compliance with various types of provisions, and connected data from many different departments and databases to track well status.  We then created automated notifications for when action needs to be taken – sent in time for it to actually happen.

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Do you have the visibility?  TG Mercer does!

Effect Mitigation through Tracking

Information can be the key to mitigating the consequences of unplanned events. For instance, if a joint of pipe has a problem, it could take a huge financial and monetary investment to manually track down the paperwork to determine its history. With automated tracking of pipe location and status into a set of databases, not only does it become easy to find its history, in case of emergency, you can also track down pipes with the same background and prevent a future occurrence.

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Have you communicated?   StatOil did – even in a merger!

Buy-in of tactics through Data-based Strategy

E&P firms take significant risks in deciding which assets to drill, and each firm has a set of strengths that can help determine what their best plays are. In order to avoid costly misdirection of resources, StatOil had Entrance put together a look-back of p-10, p-50 and p-90 data in combination with actual production and accounting numbers to create an understanding of the commonalities of their most profitable wells. Being able to articulate a risk portfolio based on real numbers will not only keep investors happy, but will guide your firm to better decisions.

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