Looking at the trends below and the completion forecast for the organization, an expected spend forecast was generated. This helped quantify the need for cost optimization as it was becoming an increasingly critical component of the completion spend portfolio.
OpenInsights’ highly granular datasets identified seven vendors that had supplied the operator with friction reducers in the preceding 24-month time span. Over the same time period, normalized unitized pricing data indicated there were wide discrepancies in the pricing that had been offered.
Vendor consolidation, completion design review, longer term price contracts and strategic sourcing helped the customer uncover significant cost savings based on their annual completion schedule.
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