FieldSavvy, a new mobile productivity tool built to enhance efficiency in the oilfield, makes its market debut this month following a six-month field test. The new app-based platform enables faster and more responsive communications between oil and gas operators and oilfield service companies.
“Every penny counts these days as exploration and production and oilfield service companies combat the prolonged collapse in commodity prices,” said Jason Swanson, head of FieldSavvy and the co-founder of J&L Oilfield Service Company, based in Shattuck, Oklahoma. “Energy companies are squeezing every ounce of efficiency out of their supply chains and operations.
He continued, “The feedback from our field tests has been incredibly positive and we think users will also appreciate the speed, simplicity, clarity and accountability built into the application and how easily it manages job requests, job bids and sends critical job updates to all parties in a single click.”
While the FieldSavvy app streamlines communications, its ability to capture, analyze, organize and present pertinent data — such as current cost comparisons among a company’s preferred suppliers as part of robust job request and job bidding features — will enable energy companies to make smarter and quicker decisions when choosing vendors and suppliers. Users can manage tasks, measure performance and coordinate logistics in real-time.
“The oilfield service sector has historically lagged behind in the adoption of information technology,” said Chelsea Celsor Smith, FieldSavvy’s director of business development. “While exploration and production companies demand price reductions in response to low commodity prices, the ultimate solution is a simple app-based platform capable of reducing costs by driving supply chain efficiency throughout the oilfield service business.”
In a simulated study to assess the probable operational costs savings from using FieldSavvy, the Steven C. Agee Economic Research and Policy Institute (ERPI) at Oklahoma City University found that the increased efficiency derived from FieldSavvy’scommunication improvements could lead to an average cost savings of 6 percent. In addition to the 6 percent, FieldSavvy could also help cut costs associated with other operations not directly related to communication efficiency including aiding in conflict resolution with track records of service, more efficiently managing rental and service time and tracking, and reducing additional downtime. The study also shows that if FieldSavvy is successful in reducing bid and job request time to completion, the likelihood of errors and operator costs fall disproportionately — specifically, every 1 percent gain in efficiency from enhanced field communications leads to a 1.5 percent reduction in relative operating costs.
“The FieldSavvy platform solves a persistent and expensive problem in the oilfield between oil and gas operators and their preferred field service companies caused by slow, unclear, untimely and imprecise communications,” said Russell Evans, economist and researcher at the ERPI. “The study clearly shows savings achieved through various means for companies usingFieldSavvy.”
FieldSavvy is available for IOS and Android smartphones, and the real-time records it generates can be accessed and filtered through a desktop dashboard and uploaded into external accounting applications as needed. FieldSavvy is built to work with operators and companies of all sizes, and pricing is based on the number of FieldSavvy users.
For the initial operators adopting the full platform, FieldSavvy is offering a free customized installation and trial period. The trial could be restricted to a particular region or installed company-wide, based on an operator’s needs. The developers will include ongoing product support to accompany trials and user-based subscriptions.
“Innovation is the fastest way to increase productivity and decrease costs,” Chelsea Celsor Smith added. “FieldSavvy will preserve reasonable margins in these challenging times by delivering real savings for the energy business.”