“Drakewell is a massive time saver. What used to take three people now takes one who does more.” – SVP, Drakewell Client
Introduction
Today, in the Oil & Gas industry, “data-driven decisions” and “do more with less” seem more like buzz-phrases than practical reality. Despite all the tech talk, almost all operators and service companies still get their data from scrubbing and scraping PDFs, emails, or excel templates, hire people to clean it, and rarely recognize the value from the insights they hoped to get when they decided to pursue their digital transformation.
Most million-dollar decisions are still made on relationships and intuition and supported by data of questionable quality – especially at scale.
Drakewell was specifically built to eliminate these issues and accelerate our client’s journey towards a true digital transformation. This means changing the way people work for the better. One Drakewell client executes these buzz words in a big way.
Challenge
Pre-Drakewell, the client carried 10% more G&A dedicated to clean and dig through disparate data. It took:
- 6 hours to close out a job and build an end-of-well report (per job!)
- Quarterly reviews took 3 weeks across several people to pull everything together.
- New client opportunity presentation took 40 hours over 2 weeks
The metrics that the client provided are status-quo for the industry.
“So much time was spent cleaning and aggregating data that it wasn’t possible to consider asking harder or different questions without hiring.”
Solution
The client implemented Drakewell FieldOps, Realtime, Analytics and accessed their own DataLake.
Results
- 30 minutes to close out jobs and build end-of-well report (92% reduction in time)
- Quarterly review preparation time fell by ⅓ and people by the same, lowering customer retention costs
- New client opportunity presentation preparation fell by 60%, significantly reducing customer acquisition cost (CAC)
Benefit
Drakewell automates a previously manual and time-consuming process and improved the quality and quantity of data. It ties all operational data together (EDR data with BHA data, for example), and makes that data useful and consumable. It enables not only time and cost savings but propelled the client into new ways of leveraging data to earn new revenue and differentiate themselves from competitors.