TULSA, Okla., March 30, 2017 – A Colorado-based exploration and production (E&P) company is simplifying processes and gaining measurable operational efficiencies from a master data management (MDM) solution delivered by Stonebridge Consulting.
The operator, which has more than 350,000 acres under lease in the Denver-Julesburg Basin, engaged Stonebridge last year as its strategic partner to operationalize MDM across its E&P applications, including cloud-based (Wellcast™, ProCount®, WellEz®) and on-premises (ARIES®, BOLO®) systems.
Working with Stonebridge, the Denver-based company recently deployed the EnerHub™ MDM module to synchronize and orchestrate master data across these systems. Using Stonebridge’s MDM and data quality tools and accelerators, the solution was successfully rolled out in under five months.
Within that timeframe, Stonebridge completed several deliverables, including creation of a comprehensive matrix of the client’s source systems and data synchronization mapping; implementation of the EnerHub MDM and Data Quality software modules; development of a production data warehouse and reporting cubes; and user training.
“Our MDM methodology, tools and accelerators enable us to reduce deployment time from years to months,” said Stonebridge Consulting Managing Director BJ Cummings. “From our client’s perspective, the accelerated delivery means the business value of MDM is realized much more quickly.”
While Stonebridge’s MDM solution runs behind the scenes at the operator, its business impact is tangible because it solves a systemic business challenge: redundant manual entry of well data in multiple systems.
The problems caused by redundant data entry are well-known in the E&P world. Basic information about the well (e.g., Well Name, Status, API Number, etc.) is typically entered multiple times into different systems used by personnel in different departments. Multiple entry of the same data is time-consuming and inefficient on its face. Too often it creates data errors and inconsistencies that cause business reporting and analysis problems later. Over time it causes decision makers to lose trust in the data driving the business.
Master data synchronization solves these problems by orchestrating the data entry process. “Golden record” well data is assigned to a defined system of entry. When entered, well data is published out to subscribing systems that hold those same data attributes.
According to Stonebridge’s Cummings, master data synchronization brings measurable value to the business, which is the overall goal of any MDM initiative.
“Creating a single version of the truth—the golden record—is the first step in any MDM program, but it’s not the Holy Grail of MDM,” Cummings said.
“From the business perspective, it’s what you do with the golden record, how you use it to create tangible business value, that determines the ultimate success of MDM. And MDM’s real value lies in master data synchronization by operationalizing the golden record via orchestrating master data across all dependent systems. The value is seen in improved process alignment, data consistency for better reporting and informed decision making, and increased employee productivity,” he said.
The next-gen data management platform developed exclusively for oil and gas companies, EnerHub is the culmination of Stonebridge’s 20+ years of experience in oil and gas business process optimization and data management best practices. EnerHub ensures that the data you use to make business decisions is trustworthy, up-to-date, accurate, and synced across operational systems. EnerHub modules plug into your systems environment to ensure that you and your team have 100-percent trust and confidence in the data that drives your business.
For a 45-day EnerHub trial, click here.
Stonebridge Consulting, LLC, is a leading provider of business advisory and technology services for next-gen oil and gas. Stonebridge’s services help oil and gas companies produce hydrocarbons efficiently and safely, optimize volumes, increase margins, and maximize returns. Headquartered in Tulsa and with offices in Houston, Oklahoma City, and Denver, we serve the oil and gas industry exclusively, with targeted solutions for upstream, midstream, downstream and oilfield services companies focused on resource plays in North America. More information about Stonebridge Consulting is available at www.sbconsulting.com.
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