Energy & Mining | Post-Spinoff IT Evaluation

As investor expectations climb, challenges threaten the U.S. Energy and Mining sector, including escalating costs and increased regulatory obligations.

Feeling buried? During periods of rapid growth, competing priorities and an increasing volume of activity can make it difficult to deliver consistent, high-quality outputs on a timely basis. Investing the time to evaluate your systems will help identify opportunities to optimize the people, processes, and tools that drive your business – and help ensure that required timelines are met, while getting your head out of the sand.

SITUATION
  • The client, a large independent E&P company, was evaluating a spin-off of its drilling program
  • Company needed an IT plan post-spinoff, including decisions to keep or sunset legacy accounting systems and any new investments for hardware and software
  • Service level issues with certain vendors existed, requiring a comprehensive evaluation of vendor contracts
APPROACH
  • Co-facilitated a spinoff workshop to define overall spinoff and IT requirements
  • Implemented a vendor evaluation model to assess current vendors and make decisions to terminate certain vendor relationships
  • Mapped core and non-core functional and technical processes to evaluate IT dependencies between the parent and spinoff companies
  • Identified IT application roadmap for a typical well lifecycle
BENEFIT
  • Improved vendor management process
  • Reduction in obsolete systems or redundant systems (translating into reduced spend overall)
  • Executable roadmap for meeting core IT requirements in the post-spinoff operating environment

For More Information, please contact:   Steve Foster   |   720 341-5535   |   Email