In response to rapid production growth, operators are turning to Exception-Based Surveillance (EBS) to reduce lease operating expense, decrease deferred production, alleviate hiring constraints and improve cash flow in today’s uncertain price environment.
The recent boom in North American oil and gas production has created unprecedented opportunities for onshore oil and gas operators. Significant improvements in drilling and completion techniques have unlocked vast resources across North American shale plays, which only a decade ago were not considered economical to produce. Along with these opportunities, operators are presented with ever-increasing challenges to effectively manage rapidly expanding production operations and optimize production costs in today’s uncertain price environment. As both the number of producing wells and production volumes increase, operators must strive to develop an operating model that effectively supports projected production growth.