The dynamic oil and gas industry is continually shifting, and keeping pace with regulations, competition, and industry growth throughout the chain is no easy feat.
Startups and established companies alike may find themselves at a crossroads and not know how to proceed. From pricing volatility to expanding into new territories to improving their supply chain and scaling their workforce, companies spend a lot of time and money figuring things out, and there’s no easy way of knowing whether or not you’re on the right path.
Every decision you make carries a lot of weight in your business’s success, but using an upstream oil and gas industry consulting firm allows you to share your workload, giving you professional expertise and providing for the best use of your resources.
What is Upstream Consulting?
By definition, consulting refers to the process of identifying and completing customer needs to improve upon their business.
Here’s a simple analogy: you’re a fisherman and know how to bait a hook, cast a line, and reel in your catch. If you were using a consultant, they would tell you where to fish, what kind of bait to use to catch certain fish, and everything else that happens before you actually fish.
Translating this to the oil and gas industry, services include evaluation and appraisals of oil and gas properties, exploration services to determine the potential value of those properties and full-service planning and execution of oilfield contract operations. We provide our services in the upstream lifecycle to help you lay the groundwork to be successful.
Why Oil & Gas Consultants?
Consultants are one of the easiest ways to scale your business. Rather than taking on additional employees and overhead to complete a project, companies can tap into industry experts for a fraction of what it would cost them internally.
Private equity and startup companies who don’t have the resources or experience in the industry can use consultants to scale quickly while remaining cost conscious. In essence, they’re expanding their team as needed to remain competitive in the market without taking on additional overhead and expenses.
Established corporations and small companies alike can also benefit from third-party expertise. From growing your footprint in a competitive industry to creating sustainable growth in uncertain markets, your extended team can provide all the research, testing, technology, cost analysis, and even the strategy to save you from figuring it out on your own.
As petroleum consultants, we’re not just an extra set of eyes and hands, but rather value-adding partners that care just as much about your success as you do. We can help with all aspects of design, implementation, and execution to ensure your project will be a win for your company and customers alike.
Setting the Right Expectations
If you’ve never worked with an oil and gas consultant (or have considered working with one but never pulled the trigger), it’s essential you understand what the process looks like so you can set the right expectations from the beginning.
To start, you should have goals in mind, both for the outcome and for the process at large. Companies who are new to working with consulting partners should know what services they can bring to the business and know how to apply those benefits to their fullest potential.
This is harder than it seems. Companies tend to define these services as separate functions rather than part of their overall system for growth. They don’t know where or how to start with a consulting partner, and therefore don’t fully understand how to define, value, or measure the services they provide.
Also, it’s important to remember that not all consultants are equal. Aside from services and pricing, there can be huge variances on the level of service, communication, and collaboration. If you need a collaborator that’s responsive, timely, and involves you throughout the process, you should make those expectations clear up front and feel confident they can deliver.
How an O&G Consultant Can Help Your Bottom Line
When it comes down to defining the purpose, using a consultant should ultimately improve your profitability. On the surface level, working with an oil and gas consulting partner offers the obvious advantage of expanding your internal resources at scale.
But more importantly, you expect the resulting insights or production to do one of two things:
- You expect to see some form of ROI, usually by generating revenue that otherwise may not have been possible without their help.
- You want to cut costs on a project, saving more money than you spent on consulting services.
In either case, our motivated team of petroleum industry experts bring decades of experience to your projects. Reach out today to learn more about how we can help you thrive and stay ahead of your competition in the competitive oil and gas field.