Why the right software can trailblaze a new way for Oil & Gas

Technology is changing everything, and along with it, the way portfolios are managed.

Realizing this, Accenture Consulting surveyed more than 300 upstream leaders who fill roles ranging from executive managers to engineers and span 18 countries, to better understand the time and money being funneled into the development of these digital technologies. Among the responses of these industry leaders, five key findings pervaded results:

  1. Companies recognize that powers lie within digital advancement, but they struggle to realize its value.
  2. Greater gains necessitate analytics maturity.
  3. Wider digital advancement benefits are constrained by organizational issues.
  4. Most oil companies are not taking advantage of digital advancement to resolve workforce issues.
  5. Oil companies fear becoming noncompetitive in the race for digital advancement.

These five key findings can be summed into one: the industry knows there is vast potential in digital, but no one knows how to reach that potential. Oil & Gas needs a digital trailblazer to pave the way to new heights. The industry’s digital solutions have been stale and complacent for far too long as stakeholders have been stuck using the same rudimentary digital tools for decades.

Lower48 Analytics aims to become the catalyst the industry needs to finally break the barrier to advancement, and our software solves the critical challenges observed in Accenture’s survey.

  1. The power brought by Lower48 Analytics is not only very real – it is easy to use and easy to see. The robust and intuitive user experience on our platform offers everyone, regardless of how tech-savvy (or not) a user is, the tools necessary to utilize Lower48 to its greatest potential to inform financial decisions.
     
  2. Our custom tool offers unique analytics, all drive by the individual user. This means the software can accommodate the most sophisticated approached and the most simplistic.
     
  3. Organizational issues have plagued the oil and gas industry’s digital advancement for decades; the fractured data systems housed in spreadsheets, with data providers, and in analytic tools makes it all too easy for important details to fall through the cracks. Lower48 Analytics is an integrated portfolio analysis and management solution that can effectively integrate, automate, and scale “big data” unlike any platform before, making fractured data systems and organizational issues a thing of the past.
     
  4. Far too many organizations lack the tools necessary to resolve workforce issues that are oftentimes brought on by the aged software that their employees use on a regular basis, and the resulting slowed productivity. Our platform gives employees all the tools they need in one place, boosting productivity, accuracy, and organization across the board.
     
  5. The constant evolution of digital advancement in the oil and gas industry makes many organizations fear being left behind by their peers, but our platform is constantly evolving as well. Continued innovation and support of Lower48 and its development will ensure the software remains the most powerful data analytics and portfolio management tool on the market.

If you are interested in learning more about how Lower48 has changed the game for business owners, investors, and financial professionals in the upstream oil and gas industry, please feel free to call (512) 862-7824, email sales@lower48.net, or safely submit your information here.

Mitch Holt