Changing the way your organization thinks about wellwork and reservoir management
The Wellwork and Reservoir Management Benchmark (WRMB) allows you to compare performance metrics and operational approaches with leading operators, to establish the value potential and areas of focus for you to achieve top performance in well interventions in your organization.
See the WRMB in action
Our benchmarking team introduced findings from the WRMB at this year's Offshore Well Intervention Europe conference in Aberdeen in a presentation titled "Capturing the full opportunity from well intervention in today's North Sea." We are pleased to offer a complimentary copy of this presentation through the download link below.
GET THE PRESENTATION
OUR DIFFERENCE
Our experts
A dedicated unit of specialists with deep front line oil and gas experience delivers the benchmark alongside the wider McKinsey network
Our experience
Over 20 years of experience benchmarking oil and gas activities around the world
Our data set
The WRMB database consists of proprietary data covering 1,500 well interventions performed by leading operators in 10 countries
WHAT WE DO
We quantify the value of well intervention and suggest actions that each asset could take to maximize this value...
Value
- Incremental production
- Protected volumes
- Incremental profit
- Return on investment
Activity and spend levels
- Number of interventions
- Mix of interventions
- Cost of intervention
- Cost per incremental/protected barrel
Job execution excellence
- Job success rate
- NPT as a % of actual time
- Actual vs. AFE cost
- Actual vs. planned time
- Actual vs. planned incremental production
- TRIR
- Time by activity
...and link these to best practices that each asset could adopt to maximize the value from well intervention...
Technical System
In the best operators, policies, processes, and tools support:
- Identification and execution of high-value jobs
- Rigorous performance tracking
- Best practice transfer
Organization & Capabilities
- There is single/joint responsibility for WRM
- Asset team shares WRM KPIs and targets
- There are sufficient resources for WRM
Mindsets & Behaviors
- Well integrity and production optimization is considered alongside production levels
- Asset team feels comfortable trying new techniques
- There is rigorous performance benchmarking
WHAT IT IS
A quantified return on investment for well intervention activities for both incremental production and protected volumes, as well as cost per barrel and NPV per barrel analysis
An assessment of your intervention strategy that goes beyond financial investment and looks at the actual frequency and mix of interventions for a given portfolio
A comparison of your intervention execution across operators and service providers including NPT, planned vs. actual budgets and duration
WHAT YOU GET
Example output 1: Intervention performance
Example output 2: Intervention activity mix
Get in touch with our benchmarking team.
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