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Writer's pictureDr. Marvilano

Compendium of 46 Most Useful KPIs for the Oil & Gas Sector

 

These KPIs provide comprehensive insights into the operational, financial, and environmental aspects of oil and gas exploration and production.

 

1.      3D Seismic Coverage: The extent to which an oil and gas company's exploration areas are covered by 3D seismic surveys, indicating the quality of subsurface data.

 

2.      Asset Turnover Ratio: A financial metric measuring how efficiently a company uses its assets to generate revenue.

 

3.      Average Reservoir Pressure: The average pressure within the reservoir, a critical factor in assessing the potential productivity of an oil or gas field.

 

4.      Barrels of Oil Equivalent per Day (BOEPD) per Employee: Productivity measure indicating the amount of oil and gas produced per employee, reflecting operational efficiency.

 

5.      Break-Even Oil Price: The minimum oil price required for a project or operation to cover its costs and achieve profitability.

 

6.      Carbon Intensity: Measurement of the carbon emissions produced per unit of energy or product, reflecting environmental sustainability efforts.

 

7.      Cash Operating Costs per Barrel: The operational expenses incurred to produce one barrel of oil, excluding non-cash costs.

 

8.      Days Sales Outstanding (DSO): The average number of days it takes for a company to collect payment after a sale, indicating efficiency in receivables management.

 

9.      Drilling Success Rate: The percentage of successful drilling operations, providing insights into exploration and production efficiency.

 

10.  Energy Returned on Energy Invested (EROEI): The ratio of usable energy obtained from a resource to the energy expended in its production, reflecting energy efficiency.

 

11.  Environmental Compliance Costs: The expenses associated with ensuring compliance with environmental regulations and standards.

 

12.  Exploration Success Rate: The percentage of successful exploration ventures in discovering viable oil or gas reserves.

 

13.  Fuel Efficiency: Measurement of the efficiency in fuel consumption during oil and gas operations.

 

14.  Fuel Loss Rate: The percentage of fuel lost during various stages of production, transportation, or processing.

 

15.  Gas Flaring Volume: The volume of natural gas flared during oil production, a key environmental and operational metric.

 

16.  Gas/Oil Ratio (GOR): The ratio of produced gas to produced oil, indicating the composition of hydrocarbons in a reservoir.

 

17.  Health, Safety, and Environment (HSE) Metrics: Various metrics assessing the performance and adherence to health, safety, and environmental standards.

 

18.  Hydrocarbon Pore Volume (HPV): The volume of hydrocarbons within the pore spaces of a reservoir, a crucial parameter in reservoir characterization.

 

19.  Lifting Costs: The cost incurred to lift and bring oil or gas to the surface, including operating and maintenance expenses.

 

20.  Lost and Unaccounted for Gas (LAUF): The volume of gas that is lost or unaccounted for during production, transportation, or distribution.

 

21.  Maturity of Reserves: The stage of development and production maturity of a company's reserves.

 

22.  Natural Gas Liquids (NGL) Yield: The percentage of natural gas production that consists of natural gas liquids.

 

23.  Netback Price: The revenue generated per unit of production, minus transportation and processing costs.

 

24.  Non-Productive Time (NPT): The percentage of time during drilling or production operations that is not productive.

 

25.  Oil and Gas Reserve Valuation: The estimation of the economic value of proven oil and gas reserves.

 

26.  Operating Netback: The revenue per unit of production after deducting operating expenses.

 

27.  Pipeline Utilization Rate: The percentage of a pipeline's capacity that is utilized, indicating efficiency and demand.

 

28.  Plugging and Abandonment Costs (P&A): The costs associated with permanently closing and sealing an oil or gas well.

 

29.  Processing Capacity: The maximum amount of oil or gas that can be processed by a facility or plant within a given time.

 

30.  Rate of Penetration (ROP): The speed at which a drilling bit penetrates the subsurface during drilling operations.

 

31.  Rate of Return (RoR) on New Wells: The percentage return on investment for new wells drilled.

 

32.  Ratio of Proved Undeveloped Reserves (PUD) to Total Reserves: The proportion of proved undeveloped reserves to the total reserves, indicating future development potential.

 

33.  Refinery Utilization Rate: The percentage of a refinery's capacity that is utilized for processing crude oil into refined products.

 

34.  Reserve Life Index (RLI): The number of years a company's proven reserves can sustain current production levels.

 

35.  Reserve Replacement by Region: The replacement of depleted reserves through new discoveries, categorized by geographic regions.

 

36.  Reserve Replacement Cost: The cost associated with replacing depleted reserves with new discoveries.

 

37.  Reserves Replacement Ratio (RRR): The ratio of new reserves added to the reserves depleted, indicating the ability to replace extracted reserves.

 

38.  Reserves-to-Production Ratio (R/P): The ratio of proven reserves to current production rates, indicating the number of years reserves can sustain production.

 

39.  Reservoir Saturation: The extent to which the pore spaces in a reservoir are saturated with hydrocarbons.

 

40.  Spud to Sales Time: The time taken from the initiation of drilling (spudding) to the sale of produced oil or gas.

 

41.  Turnaround Time (TAT) for Maintenance: The time taken to complete maintenance activities or shutdowns, minimizing downtime.

 

42.  Upstream Capital Cost Index (UCCI): An index reflecting the capital cost changes in upstream oil and gas projects.

 

43.  Water Cut: The percentage of water content in produced oil, indicating the water-to-hydrocarbon ratio.

 

44.  Well Productivity Index: A measure of the productivity of oil or gas wells.

 

45.  Wellhead Price: The price received by the producer at the wellhead for oil or gas.

 

46.  Wells Drilled per Rig: The number of wells drilled per drilling rig, reflecting drilling efficiency.

 

 


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