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What Oilfield Companies Must Control

A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives.
In the changing oilfield service and rentals market, you need to have all the facts about costs, resources, opportunities, clients, partners – and you need them in real-time. But, which data and metrics are relevant? How to collect them consistently and correctly? Businesses must choose relevant and effective measurements that directly or indirectly reflect the level of success in meeting its goals.
There are several KPIs that help remain in control and adapt to the changing reality. Below you will find 12 most important KPIs for oilfield companies and how to use them to evaluate the efficiency of your operations.
Do you want to learn more on Oilfield Operations Efficiency and Cost Optimization?

Oilfield Operations KPIs

Average Job Operation Profit Margin by Department
  • Formula: Total Operation Profit ÷ Total Job Revenue x 100
  • Unit of Measure: %
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Average Rental Fleet Group Utilization
  • Formula: Deployed Days ÷ Days in Fleet x 100
  • Unit of Measure: %
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Total Downtime Hours by Equipment Groups
  • Formula: Downtime (From Client Call to Issue Resolve Confirmation)
  • Unit of Measure: Hours
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Average Field Personnel Utilization by Department
  • Formula: Total Operation Hours ÷ Total Available Hours x 100
  • Unit of Measure: %
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Billing Cycle by Department
  • Formula: Average Hours from Job Done till Invoice
  • Unit of Measure: Hours
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Oilfield Sales KPIs

Sales Activity Index
  • Formula: Sales calls and Meetings per Salesperson
  • Unit of Measure: Number of Calls and Meetings with Prospects
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Closing Ratio
  • Formula: Closed Deals ÷ Proposals Cumulative for Reporting Year x 100
  • Unit of Measure: %
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Total Revenue by Department
  • Formula: Net Sales Amount
  • Unit of Measure: $K
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Region Market Share
  • Formula: Active Jobs ÷ Total Drilling Rigs x 100
  • Unit of Measure: %
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Finance KPIs

Sales Cash Flow
  • Formula: Cash Flow from Sales
  • Unit of Measure: $K
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Days Sales Outstanding
  • Formula: Average DSO
  • Unit of Measure: Days
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Revenue per Employee
  • Formula: Total Revenue ÷ Average Employees Headcount
  • Unit of Measure: $K
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See how RigER: Oilfield Services ERP can help you with your daily operations
Learn more

See How With RigER You Can:

Manage Equipment Rental Operations
  • Generate Oilfield Rental Invoices in 24 hours!
  • Know Where your Rental Fleet and Field Team is
  • Schedule Oilfield Service Instantly
  • Dispatch Rental Fleet Faster
Always Be in Control
  • See Full Picture and Make Data-driven Decisions
  • Streamline Business Processes and Supporting Documentation
  • Solve Business Challenges (Sales, Service, Revenue)
  • Analyse Performance on an Ongoing Basis