Production Reliability / Uptime Analysis --- Critical for Cash Flow!
Reducing Deferred Production is the single best ROI investment a producing company can make – achieving ‘best in class’ targets can deliver many millions of incremental cash flow.
Production
maximization is extremely important to our E&P clients in times of high
commodity prices and declining production. Ziff Energy's approach to
production reliability is based on true daily production data, rather than daily
sales volumes which may be influenced by inventory changes or market
constraints.
Ziff Energy has defined 20 ‘World Types’ of Oil & Gas Fields for comparing similar assets. In some cases, sub-types of the World Types would be defined to provide
more specific Peer Groups for your assets. The firm has developed and
delivered Uptime Reliability metrics for 500+ upstream assets in 20 countries. Each of your producing assets would be assessed against similar assets in our proprietary
field-level database. The type of causes for your unplanned downtime incidents would also be compiled and compared to peers for your assets.
The Ziff Energy methodology for downtime analysis was created and further evolved by Ziff Energy with input from clients during the past 3 years, starting with the
6th edition of Ziff Energy’s Gulf of Mexico Deepwater studies. Having received input from Majors, Independents, and NOC’s, Ziff Energy’s Uptime Reliability methodology
has evolved, and is now used for benchmarking onshore as well as offshore assets. The Uptime Reliability analysis has been applied in all Ziff Energy benchmarking
projects since 2007.
Production Loss is defined as the difference between Potential Production and actual daily
production. Mean Time between Incidents (MTBI) and Mean Time to
Recover (MTTR) metrics are calculated based on beginning and end of
production incidents. The goal of Ziff Energy is to provide our clients with 'Best in Class' target levels on a
world basis for each type of production, such as waterfloods, onshore mature
gas, FPSO's, and deep unconventional gas.
The Key Performance Indicators (KPI's) include:
- Operating Efficiency (converse of % Production Loss)
- Reliability Index (based on an integration of MTBI & MTTR metrics)
- Total Production Loss.