Thoughts and Insights on Business Excellence in the Energy and Heavy Process Industries
Reflections on the 2015 Operational Excellence in Oil and Gas Conference in Calgary.
Traditional oil & gas plays have been high-risk, high-reward scenarios where the priority of speed from SPUD to production trumped upfront costs due to time value of getting production online ASAP. Shale production volumes on the other hand are strongly correlated with the amount of completion work done on the wells; the shale development paradigm is therefore more akin to the manufacturing environment than traditional oil & gas production.
Business Excellence is a phrase that is often used in the Downstream Refining and Petrochemical business, and has a very broad meaning to this industry.