Executives need to be able to easily view high level performance across their entire organization. If business units could be compared to each other easily through some high level metrics then executives could make decisions based on empirical evidence. Using key performance indicators this could be achieved but, compiling that data takes time, energy and therefore cost.

Seven Lakes’ tackles this problem with its new Executive Scorecard. This analytics dashboard tracks KPIs that are most significant to an E&P company all in one single view. The KPI’s currently available in the dashboard are:

1. Safety

Safety is vital to all of us. By monitoring Environmental Health & Safety regularly at an executive level it can have a significant impact on the safety performance of an organization.

2. Production

Daily production data is measured in BOE or MCF per day. By viewing daily production by BU executives can quickly identify problem areas and look at which wells are consistent leaders and laggards.

3. CAPEX

Capital expenditures are measured in year to date with a comparison between budgeted and actuals. By keeping track of rate of return or return on capital employed executives can see if they are budgeting accurately and track overall financial efficiency for their whole organization.

4. OPEX

The operating expenditures metrics include lifting cost per MCFE or BOE as well as millions of dollars spent year to date. This enables executives to quickly identify and monitor above average LOE areas and constitute high level action plans to improve operational efficiency.

5. Inventory & Reserves

The inventory and reserves section enables executives to have a running tally of their reserves across the organization. When models get updated the dashboard also gets updated to reflect the most recent data.

6. Supply Chain

Supply Chain is the last of the metrics measured on the executive scorecard. It measures total supply chain expenses in millions of dollars. Through tracking the supply chain costs closely companies can prevent any excess spending and improve profitability.

With all 6 of these KPI’s constantly available executives can compare and contrast their business units in each category to get a better understanding of how their organization is functioning as a whole. Each heading of the dashboard is expandable for additional details and exportable to excel for further slicing and dicing of data.

Data Management

Having a sustainable data integration and data quality program is of utmost importance. Seven Lakes has significant experience with Master Data Management programs and data quality initiatives which enable the Exec scorecard to have a significant impact on a customer’s bottom line.

Ease of Use

Seven Lakes’ Executive Scorecard’s intuitive and holistic view contributes to its ability to have a strong and lasting effect on an organization. Management will be able to get a direct view into the vitals of their organization to enable faster and more knowledgeable decision making.