OFS Portal said on Jan. 22 that Basic Energy Services has joined the organization as a supplier subscriber member. Basic Energy joins current OFS Portal members which include Baker Hughes, Halliburton, Schlumberger Oilfield Services, Select Energy Services, Total Safety U.S., Weatherford International, and Wellbore Integrity Solutions.
Basic Energy provides more than 2,000 oil and gas companies with a comprehensive range of well site services that support the entire lifecycle of a well in the major onshore oil and gas producing regions in the United States. With operations spanning across six geomarkets, it was important for the Texas-based service provider to find a streamlined way to manage all of their customer price books electronically.
“We were looking for a way to modernize and manage our current catalog process which is still very manual,” Doug Dunlap, Basic Energy Services director—credit-to-cash, treasury operations, said. “The OFS Portal Catalog tool provides us a systematic way of publishing price books.”
As an OFS Portal Catalog user, Basic Energy can now publish price book line-items along with contractual pricing specific to each customer in just one format. The price book format remains the same irrespective of the number of customers, providing Basic Energy with more operational consistency and streamlined operations.
“OFS Portal has a unique position in the oil and gas industry in that we are a body created by suppliers for suppliers with the common goal of increasing operational consistency and efficiency for both supplier and buyers,” Chris Welsh, OFS Portal CEO, said. “Fundamental to this is our legal agreements which enable a standard way of implementing eCommerce utilizing royalty free and open industry standards in addition to providing data protection, governance and ownership.”
Basic Energy will now be a part of the large OFS Portal community comprised of eight of the most globally diverse oilfield service companies, over 400 oil and gas operators and more than 45 eCommerce networks; each operator and network have an OFS Portal agreement in place.
Recommended Reading
Crescent Energy: Bigger Uinta Frac Now Making 60% More Boe
2024-05-08 - Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
2024-04-29 - Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
2024-03-13 - TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.