If you’ve been around the VistaVu Solutions community for a while, you might have come across the 7 Deadly Sins of Oilfield Service Companies. It’s a special report that documents seven ways companies cost themselves time, money and customer regard.
This month, VistaVu is publishing a newly imagined version of Seven Deadly Sins that takes this idea to a whole new level. First, though, a little history.
Seven Deadly Sins was originally a presentation given by VistaVu President Jory Lamb back in 2008 to the Association of Energy Services Companies in Texas. In that presentation to oilfield executives, Lamb laid out a challenging viewpoint: it’s not what you make in this industry that counts, it’s what you keep.
He detailed seven management and operational mistakes – ranging from disparate systems to lack of internal financial controls to management-by-crisis – that were costing many companies a large proportion of their profits.
“They’re sins because we shouldn’t be doing them,” Lamb said. “They’re deadly because they can cost you some or even most of the money you make.”
In various forms, Seven Deadly Sins has been a mainstay of VistaVu’s message to our customers ever since.
Early in 2014, Lamb challenged the VistaVu team to rethink Seven Deadly Sins and give it a fresh lease on life. On June 2, VistaVu launched an expanded version of the 7 Deadly Sins report, including a complementary interactive 7 Deadly Sins ROI calculator. The ROI calculator, to be fully released later this month, will allow oilfield service companies to enter operational information in an online tool. As each Sin is detailed, the 7 Deadly Sins calculator calculates what each Sin could be costing you, and your Return on Investment for putting it right. To be among the first to receive a copy of the ROI calculator later this month, register here.
“All companies, even the industry’s best performers, can commit these Sins from time to time,” says Lamb. “The Sins are the same as six years ago, but now, we have a better way to show what you gain by addressing them. It’s a fun way to approach a serious topic, and we think it’ll be an eye-opener for many.”
To download your free copy of the new, interactive Seven Deadly Sins of Oilfield Service Companies report, see below and sin no more.
