Cost Insights
by PowerAdvocate

Intelligence for energy companies seeking a data-driven approach to cost management

Utility Update: 5 Things to Watch in 2019

January 10, 2019 at 3:45 PM / by PowerAdvocate posted in Cost Reduction, Industry Insights, Inefficiency Costs, Utility, Data and Analytics

Utilities are in the thick of an industry transformation driven by technological and competitive forces. 2019 shows no signs of slowing down. We have highlighted 5 key trends to stay ahead of in the coming year, so utilities can continue to position themselves for success.

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Tactical Savings Guide: Supplier Efficiency Analysis

March 6, 2015 at 1:21 PM / by PowerAdvocate posted in Cost Reduction, Industry Insights, Inefficiency Costs, E&P

This post lays out the details behind a tactical execution of Supplier Efficiency Analysis, and provides strategies for driving back inefficiencies both internally, and with OFS vendors. Specifically, it outlines:

  • Data requirements: What data do you need access to?
  • Steps of the analysis: What are the steps to follow in running the analysis?
  • Suggestions on execution: How have we seen other companies actually execute and realize the savings opportunities uncovered by the analysis?
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Don't Just Stand-By on Inefficiency Costs

March 6, 2015 at 11:15 AM / by PowerAdvocate posted in Cost Reduction, Industry Insights, Inefficiency Costs, E&P

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In our last post, we covered price variance analysis, and how it allows E&P companies to recognize huge opportunities for price standardization. This post – the 3rd in our Smart Savings Series – covers a different type of internal benchmarking: Supplier Efficiency Analysis. Firms that can identify and minimize service providers’ inefficiencies, as well as their own inefficiencies, typically achieve an additional 5-10% savings across oilfield service (OFS) items like “Rig Operations”. To put that number in perspective, 40% of a typical E&P firm’s spend is on OFS, meaning this analysis can help you achieve enterprise-wide savings of 2-4%, which amounts to $20 - $40 MM of annual savings for each $1 B you spend each year.

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