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Devon Energy: A Data-Assisted Asset Integrity Approach

Devon Energy: A Data-Assisted Asset Integrity Approach

In 2008, the combination of technical breakthroughs in directional drilling and hydraulic fracturing technologies started a wave of industry transformation and disruption that continues today. One US company at the forefront of this is Devon Energy, headquartered in Oklahoma City. A Fortune 500 oil and natural gas exploration and production company, Devon has some 3,400 employees and a capex of $US 2.4 billion. In Canada, Devon produces heavy oil through steam-assisted gravity drainage, producing some 35,000 barrels a day from ....

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Being ‘Bullet-Proof’ is a Flawed Definition of Resilience

Being ‘Bullet-Proof’ is a Flawed Definition of Resilience

Recently we have been delivering Mental Well-Being and Resilience programs to leaders for one of our clients, and it has become apparent that there is a flawed definition of Resilience that results in not only less effective leadership but lowered resilience. The flawed definition of resilience that I am hearing is this: Resilience is being bullet-proof and being able to handle everything that is thrown my way (Flawed Definition of Resilience). I have two key issues with this definition.  The ....

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Is Your Board Vulnerable to Stranded Asset Risk?

Is Your Board Vulnerable to Stranded Asset Risk?

Stranded asset risk is an important consideration for boards. Just as assets may become technologically redundant when they are replaced with a newer model, assets may also become politically or economically redundant. Even if you’re the best blacksmith, you don’t want to be the last blacksmith when horses make way for cars. Stranded assets are assets that suffer from unanticipated or premature write-downs, devaluations or conversion to liabilities. For example, there is potential for coal-based assets to become ‘stranded’ if ....

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Free eBook: The Performance Measurement Toolkit for Asset Managers

Free eBook: The Performance Measurement Toolkit for Asset Managers

In order to improve any aspect of performance you have to be able to measure where you are each step of the way. Asset management is no different. What and how you measure is often a challenge; there is no one-size-fits-all method for measuring the health of your organisation. But there is this toolkit, which will help guide the way. Download this eBook to discover: Questions to help you choose the right metrics for your organisation How to pinpoint areas ....

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The Sustainable Plant: A Checklist for the Responsible Manufacturer

The Sustainable Plant: A Checklist for the Responsible Manufacturer

The importance of sustainability in manufacturing is growing at an exponential pace. The US Department of Commerce defines sustainable manufacturing as “the creation of manufactured products that use processes that minimise negative environmental impacts; conserve energy and natural resources; are safe for employees, communities and consumers; and are economically sound.”  In this context, the term sustainable manufacturing includes the extraction, process and manufacturing industries. Globally, consumers are increasingly concerned about sustainability. According to a 2017 Gallup poll, the percentage of ....

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