Oil Industry in Texas
The oil and gas industry is the largest energy provider in the world, and its services are separated into two major activities, namely upstream and downstream operations. Upstream activities involve the process of exploration, development, and production; whereas, downstream operations consist of the refining and transportation process. In today’s market scenario, even well-established players are striving to maintain their market share in the face of increased oil production. Improvements in drilling methods such as deep-water drilling, hydraulic fracturing, and lateral drilling have resulted in increased oil production in several parts of the world.
However, the excess output coupled with a decline in oil consumption has led to a drop in oil price along with reduced profits in the oil industry. Such variations in the global oil and gas industry pose notable challenges for suppliers in this sector. While a few are well-equipped to handle these challenges, the others must adopt certain practices to increase their operational efficiency and reduce costs to preserve margins and maintain the reinvestment rates necessary for future growth.
Drilling Optimization – Why is it Essential?
The oil industry in Texas are progressively focused on maximizing efficiencies in drilling operations. Oilfield drilling optimization systems market experiences a more robust growth as it continues to hold its appeal for users, particularly in the form of improved efficiency and performance that lowers overall operational costs and improve profitability.
Continue reading to know more about the importance of offshore drilling optimization for the oil industry in Texas or request a FREE proposal.
About the Client
The client is one of the largest refiners and marketers of oil products in the U.S. The oil industry company refines and distributes lubricants and also manufactures petrochemicals and additives.
The client, a Texas-based Company in the Oil Industry was undergoing a tough environment, as prices increases, and operational processes were in shortage of refinement. The client needed to streamline all the processes, from exploration to production, processing, retail, distribution, and back-office operations. Moreover, the company was also looking at managing oil and gas equipment uptime to improve their overall efficiency and productivity.
To know more about the oil industry trends and the importance of drilling optimization for the oil industry, request more information.
To recognize challenges, the experts at Quantzig carried out thorough research with prominent stakeholders in the oil industry. The drilling optimization solutions suggested assisted the oil industry client in understanding the situation and helped avert these problems even before they occur. The company was able to get rid of unproductive systems and automating as many tasks as possible, all while reducing stress and facilitating workers to be more productive with their time. Moreover, the solutions successfully optimized the business processes, which ultimately enhanced flexibility and boosted efficiency by 23%.
Quantzig has supported the clients across the globe with end-to-end data modeling capabilities to leverage analytics for sound decision making. We believe that the power to tackle the actionable data is what drives a business towards success.