IHS Markit Rushmore Drilling Performance Review (DPR)
Benefits of participating in the DPR
- Establish your competitive performance - It is nice to know you are doing better than last year, but the real bottom-line measure is how you are performing in relation to your competitors.
- Provide a driver for improvement - If you can show that others are doing it faster or less expensively, you can use this fact to accelerate improvement.
- Target the big gaps - Most operators are good at some types of wells, or in some areas, but not so good in others. Use this information to make sure you target the biggest potential gains.
- Discover what the best-in-class operators do differently - While the data will not tell you precisely how they deliver superior performance, it will provide clues and indicators that you can build upon.
- Plan and budget for wells in new areas - You can access technical, time and cost data on tens of thousands of land, offshore and deepwater wells from over 100 countries. Use this data to evaluate the viability of future prospects.
- Design and plan wells - Engineers can study offset well data during the well design phase to consider how other operators of nearby wells react to the challenges in terms of wellbore size, trajectory, other design aspects, casing schemes, mud selection etc.
- Compare ROP rates - Plot offset well time-depth charts using the tables of time-depth data provided, to see how planned ROP rates compare with others and ensure that the most appropriate targets are set.
- Evaluate progress - Add an external viewpoint to your performance, report on your achievement of internal targets and integrate benchmark results into your standard measurement process.
- Benchmark internally within a multinational company - Participate in the studies on a global basis and use them for benchmarking between your own companies. Many multinational firms have used their participation to drive standardization of metrics across their corporation and to help improve data quality and internal reporting.
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