The uncertainty of oil and gas commodity prices has forced RAS, along with many of our clients, to quickly adapt to a number of stark realities affecting corporate discretionary spending. In particular, the reduction of E&P company investments in professional services has affected all management consulting firms. In all honesty, we got knocked down, and hard.
But we got back up, dusted ourselves off, and sharpened our focus. Through our strategic industry partnerships, RAS has found ways to create value by helping our clients manage costs and drive efficiencies. However, we have also gone beyond “consulting table stakes” by collaboratively envisioning ways to employ new capabilities while improving safety outcomes and meeting compliance standards with our partners.
In one of our most recent E&P projects, we helped demonstrate the value of a potential new standard for field measurement. This work eliminates many of the standard processes which have been in place for decades. The result transformed the measuring methodology used for oil custody transfer from condensate tanks. The long-term effect is a significant reduction in both the risk faced by oil field workers performing these duties and the release of volatile organic compounds (VOCs) into the atmosphere.
This improved safety posture coupled with the capability to employ wireless technologies enables companies to both measure tanks 24/7 and to optimize hauler routes. Additionally, it appears that agency regulators may impose strict limits around tank opening timing and methodologies. Not a problem! We have the solution.
Our other areas of focus include leveraging software to drive procurement savings, strategic sourcing to save 10-40% on purchases, and innovative approaches to address LOE.
We understand how commodity pricing has affected all of us, and look forward to working with our clients and partners to revolutionize operations and to maintain profitability in this challenging business climate.