A Texas based Oil & Gas provider that maintains andinstalls pumping equipment, provides engineering services, and offers monitoring services for product quality assurance.
This client had historically experienced unpredictable changes in their forecasting model. These changes resulted in lower asset utilization and forecasting anomalies that were extremely costly to fix. The client used a 5-year model and a quarterly plan to create a monthly production and revenue forecast. Unexpected abnormalities could automatically cause their report to adjust the monthly estimates of output and income and disrupt the drilling process. As a result, if an alert were inadvertently triggered and caused a production shutdown, the client would lose millions of dollars in unnecessary downtime.
Sparkhound worked with key stakeholders and internal delivery team experts to significantly improve the forecasting and utilization processes. We also developed a new process to keep the existing drills running while expanding drilling capabilities.
Created forecasting alerts based on meticulously derived thresholds
Identified and re-evaluated critical process areas impacting forecasts. This resulted in fewer unplanned stoppages and less costs.
Developed custom SQL reports
A crucial alert system that allowed for immediate human intervention during breakdowns and stoppages
Near real-time “What If?” analysis on all projections and forecasts
Valuable alerts on budgeting, forecasting, and planning inconsistencies