For example "Webinars"

Home › Oilfield KPIs

Oilfield KPIs: 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: %

Average Rental Fleet Group Utilization

Formula: Deployed Days ÷ Days in Fleet x 100
Unit of Measure: %

Total Downtime Hours by Equipment Groups

Formula: Downtime (From Client Call to Issue Resolve Confirmation)
Unit of Measure: Hours

Average Field Personnel Utilization by Department

Formula: Total Operation Hours ÷ Total Available Hours x 100
Unit of Measure: %

Billing Cycle by Department

Formula: Average Hours from Job Done till Invoice
Unit of Measure: Hours

Oilfield Sales KPIs

Sales Activity Index

Formula: Sales calls and Meetings per Salesperson
Unit of Measure: Number of Calls and Meetings with Prospects

Closing Ratio

Formula: Closed Deals ÷ Proposals Cumulative for Reporting Year x 100
Unit of Measure: %

Total Revenue by Department

Formula: Net Sales Amount
Unit of Measure: $K

Region Market Share

Formula: Active Jobs ÷ Total Drilling Rigs x 100
Unit of Measure: %

Finance KPIs

Sales Cash Flow

Formula: Cash Flow from Sales
Unit of Measure: $K

Days Sales Outstanding

Formula: Average DSO
Unit of Measure: Days

Revenue per Employee

Formula: Total Revenue ÷ Average Employees Headcount
Unit of Measure: $K

See how RigER: Oilfield Services ERP can help you with your daily operations

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