Arecon Data uses Cloud Technology to solve OCTG tracking issues
Accurately tracking a complicated commodity such as pipe and equipment within the oil and gas industry has always been a challenge. The industry has been under much scrutiny about its poor asset management due to over stocking, lost assets, and inefficiency. When it comes to the over stocking of pipe, you can partially relate this issue to the fact that companies just don’t have a clear understanding of where their pipe is located and the current condition.
Losing inventory is easy when your assets are spread across multiple vendors, locations and even countries. Small vendors handling millions of dollars in assets lack the necessary tools to properly manage them. With minimal options in the industry they have not yet found the technology to accurately handle the job. With the vast majority of the industry tracking assets on legal pads, excel spreadsheets and antiquated software, it’s easy to see the industry challenges. Although there are software companies marketing to the industry, they are typically accounting or automotive focused. No one wants to admit it but there is a problem in the process with no viable or affordable solution. With an estimated error rate of up to 50% in inventory management throughout some companies, the issue is a costly one.
But what if you could accurately track tubular assets and equipment in real time? What if the idea of using software and cloud technology to bring together multiple companies across multiple locations globally was possible? Arecon Data’s cloud Technology services coupled with the robust Oil Country OS software gives producers an easy way to locate their assets across all of their vendors in real time. For vendors, Oil Country OS allows assets to be managed and tracked from the ground up across multiple locations and yards, even globally.
This new business model Arecon Data offers will give the oil and gas industry something it has been lacking, standardization and organization. Using one software and its data to unify an industry across multiple facets and companies is what some call a dream, but the technology has been created. Arecon Data just release version 7.1 which is the first to offer this to customers. With secure data management, robust software and support, and unity across the oil and gas industry, Oil Country OS can change the way OCTG services and logistics processes are managed and improve the E&P company’s and OCTG vendor’s bottom line.