Operators commit to drilling benchmarking

Published Jun 10, 2010
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The Rushmore Reviews

Aberdeen based drilling benchmarking specialists, The Rushmore Reviews, has recently been awarded long term contracts worth over £2 million from oil companies including Anadarko, Centrica, ConocoPhillips, E.ON, ExxonMobil, Hess, Murphy, Nexen, Noble, Shell, Statoil, Tullow and Wintershall.

Many of these contracts extend until the end of 2014, allowing key performance data on drilling, completions and well abandonments to be shared amongst The Rushmore Reviews’ membership of 180 operators in over 80 countries.

“At a time of reduced drilling activity, it is necessary now more than ever for oil companies to benchmark their performance to achieve real value for money”, says Helen Rushmore, Sales and Marketing Director of The Rushmore Reviews.

“Operators have always compared their own performance to their competitors, but today we have made this process much easier for them as well as providing the quality controls that make the data much more reliable. Oil companies are using this data now to help them become more efficient, not only in their operations, but also in planning and budgeting as they move into new frontiers.”

“We have also noticed a new trend of national oil companies looking outside their own borders to find industry best practices, wherever they exist in the world”, continues Helen. “Our data analysis proves that there are often very big performance differences between the ‘best in class’ operator and those within the lower quartiles. These differences add up to a huge amount of money, so it is vital for every operator to know the size of opportunity available to them.”

According to John de Lange, VP Well Engineering and Operations for BG Brazil in Rio de Janeiro, “BG has been using such benchmarking principles mandatorily in all its worldwide well engineering operations to carry out an ambitious growth programme. Having been a part of The Rushmore Reviews for over fifteen years, we have clearly seen the benefits of benchmarking. It helps improve our business and is particularly relevant for new countries of operation.”

The Reviews were established by a group of operators, led by BP, in the late 80’s to share drilling and later, completions, data. Now with the growing emphasis on decommissioning, the well abandonment performance review is delivering the key technical, time and cost data that operators are looking for in order to provide auditable figures for future abandonment liabilities.

Tags: The Rushmore Reviews


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