Published: Sep 09, 2022 | Updated at: Sep 09, 2022

Did you know that according to Kimberlite's research, just 3.65 days of unplanned downtime a year can cost an oil and gas company $5.037 million?

It can be hard to keep track of all your oil and gas assets, especially when you're dealing with a lot of different products and services.

You need to make sure that you're keeping track of everything to make the most money. Product and service mix is key in the oil and gas industry, so you need to be on top of your game.

But don't worry. Keep reading and check out our top 3 oil and gas asset management software! These programs will help you keep track of everything, so you can optimize your products and services for maximum profits.

Why Use Oil and Gas Asset Management Software?

There are many reasons why oil and gas companies choose to invest in oil and gas management software. Some of the most common benefits include:

Increased Efficiency

Oil and gas software helps companies to streamline their operations and reduce wastage. The software lets companies track their assets in real-time, identify potential problems early, and avoid costly downtime. In addition, the software can help companies to optimize their operations for increased efficiency.

For example, the software can help to schedule maintenance tasks more effectively, reducing the need for overtime and ensuring that tasks are completed on time. As a result, oil and gas asset management software can help companies to improve their bottom line by reducing wastage and increasing efficiency.

Improved Decision-Making

The ability to make quick informed decisions is essential for any business to be successful. Unfortunately, in the past, managers have often been forced to rely on dated information that is not always accurate. This can lead to costly mistakes that could have easily been avoided.

New software programs help managers see what is happening in their business. They can see where they should put resources. Companies that have this type of software are often more efficient and profitable than companies that don't have it.

Reduced Costs

Any business wants to save money, and there are several ways to do so. One way is to optimize operations. This can involve anything from streamlining the manufacturing process to rethinking the supply chain. When done correctly, it can lead to significant cost savings.

For example, a company might be able to reduce fuel costs by redesigning its delivery route or by shifting to a more fuel-efficient fleet of vehicles.

There are many ways to save money and become more competitive. You could invest in new equipment, or you could create a preventive maintenance schedule. No matter what you choose, optimizing your operations will help your company save money.

What Are the Top Oil and Gas Asset Management Software?

Below are three of the most popular oil and gas asset management software available on the market today. Let's look at them in more detail:

1. Halsell

Halsell is designed to help oil and gas companies streamline their operations and improve their bottom line. And for only $19/month per user, the software is easy to use and includes a variety of features that make it an essential tool for any oil and gas company: production tracking, maintenance management, sales and marketing, financial reporting, and more.

Halsell's production tracking module helps companies keep track of their daily production levels. This information is important so they can figure out where to put resources and plan for the future. The maintenance management module helps companies keep track of their equipment maintenance schedules and costs.

This information is important for taking care of equipment and for budgeting. The sales and marketing module provides tools for managing customer relationships and getting new leads.

The financial reporting module provides up-to-date financial information that can be used for planning purposes. Overall, Halsell is an extremely useful software application for oil and gas companies of all sizes.

2. Wipro Garnet

Wipro Garnet is a cloud-based software solution that offers a variety of features and benefits for oil and gas companies. With production tracking, quality control, inventory management, and more, Wipro Garnet can help companies better manage their assets and operations.

In addition, the software is designed to be scalable and flexible, so it can grow with your company's needs. And because it's cloud-based, you can access it from anywhere, at any time. If you're looking for a comprehensive asset management solution for your oil and gas company, Wipro Garnet is worth considering.

3. Efficient Plant

Efficient Plant is an enterprise asset management software that helps companies to track and manage their assets in real-time. The software includes modules for production tracking, maintenance management, financial reporting, and more. By tracking assets throughout their lifecycle, companies can optimize their utilization and performance.

In addition, Efficient Plant provides predictive analytics that can help companies to identify potential problems before they occur. As a result, the software can help companies to reduce downtime, improve safety, and increase efficiency. Because of its many benefits, Efficient Plant has become one of the leading enterprise asset management solutions on the market today.

Oil and Gas Management Software: Which One Should You Choose?

As you can see, Halsell, Wipro Garnet, and Efficient Plant can all provide the right features to improve your oil and gas asset management. Without effective asset management, you could be leaving a lot of money on the table for your business.

That's why we highly recommend our solution, Halsell. Halsell offers a unique set of features at a low starting price point, and the ability to scale up to each part as needed. So why not give Halsell a try? Go ahead and get started today to see how the software is the best solution for asset management for your company.