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ASSET MANAGEMENT

The Short Guide to Asset Verifications During M&A

When you merge with or acquire a company, you are taking on an entire portfolio of assets. From real estate to equipment, proprietary knowledge to product designs, each asset needs to be identified and valued during mergers and acquisitions. This process is called Asset Verification or an Asset Walk Down. […]

WHAT IS ASSET MANAGEMENT?

Definition by Example Most industrial companies make capital equipment purchases on a regular basis.  Much care is taken to ensure the equipment item is fit-for-purpose, competitively priced, and properly accounted for in terms of how the budgeting for funds to purchase (and possibly finance) the equipment is managed.  But, what […]

How Can LoRaWAN Be Used to Track Assets In O&G?

Since we first formed our company, we have seen many changes in terms of developing technology. Although the evolution of technology has drastically changed (and improved) a wide range of industries, the oil and gas industry has benefited immensely. By investing in digital technologies, large oil and gas companies are […]

How Smart Contracts Can Help Improve Your Oil and Gas Business

Blockchain as a technology has the power to change the way business works. It offers a distributed ledger that makes transactions transparent by recording every action with regard to a specific asset. While it is still anonymous, the basic idea is that if everyone can see a transaction has taken […]

Why Would My Company Need Blockchain? Is it a distributed ledger or digital currency?

Blockchain may be the newest buzzword, but that doesn’t mean it is all hype. The technology has the potential to put supply chains in the oil and gas industry on their heads, but of course, that’s all in theory. One of the frequent questions we hear at RigServ is why should […]

When Blockchain Meets Supply Chain in Oil and Gas

Blockchain is revolutionizing the way people pay for goods and services all around the world, but it is also impacting companies. From placing a purchase order to the delivery of goods, and documentation to payments, blockchain is the newest part of the procurement of goods and services for the energy industry. […]

Augmented Reality Glass

Augmented Reality: For the Oil and Gas Industry, It’s Not a Mirage

Augmented reality is defined as a technology that superimposes a computer-generated image on a user’s view of the real world, thus providing a composite view. Augmented reality, or AR, is finding a place in a variety of fields, not the least of which is in the military. Tests conducted for the military have […]

Is It Time You Implemented Consignment Inventory Management ?

Effective inventory management is critical to the profitable rig operations. In many cases, consignment inventory is a practical solution to inventory challenges. Let’s look at the benefits of consignment inventory as well as some things that tend to stand in the way of exploring this option. Typical consignment inventory agreements allow […]

Mobility

Why Should an Energy Company Consider BPO for Supply Chain Functions?

In today’s environment of low commodity prices and reduced earnings, oil and gas companies need to be more innovative than ever in optimizing the efficiency of their supply chains. Unfortunately, many firms overlook the possibility of outsourcing their supply chain management. Business process outsourcing, or BPO, for supply chain functions, […]

Rig Beach

Oil and Gas ERP’s – Will One Size Fit All?

ERP Oil and Gas ERPs – Will One Size Fit All?   When the term “ERP” is used, many flavors and functionalities come to mind. Unlike an organization like The American Kennel Club, there are no “breed standards” for an Enterprise Resource Planning system. As a matter of fact, with […]