Oil Production Balanced Scorecard Metrics

As the name suggests, KPIs help organizations define their performance parameters and see that they are being achieved satisfactorily. They vary from industry to industry. KPIs have to align with the overall goals of the company. KPIs should be selected carefully. They should be quantifiable and actionable.

A close at key performance indicators for Oil Industry will bring us to financial indicators that are used to assess the financial well being of an organization. In the oil industry, costs are primarily related to finding, development and exploration activities. Revenues come from the sale of oil and gas. Therefore, production costs, oil exploration costs, finding and development costs and gross refining margin can be used as the primary performance indicators.

Internal process perspective helps in finding out the efficiency of an organization-s internal processes and operations. Amount of oil spills, flaring, natural gas processing as per the standards and the efficiency of use of energy at plants and refineries can act as appropriate measures for finding out the said performance.

A very important factor in deciding the success of a business is its customers. It is necessary that the business is seen in a positive light by the customers it serves. It can be easily achieved by the image it portrays by engaging in social investment activities and taking initiatives to reduce the number of fatalities and injuries of its staff and striving to maintain good relations with its business partners.

Another major pointer to an oil company-s performance can be its environmental initiatives. KPIs to measure it can include the company-s initiatives to reduce green house gas emissions, zone depleting emissions, freshwater use and properly manage the waste generated.

• Download trial version of Oil Production Indicators. Oil Production Evaluation Balanced Scorecard is distributed as an Excel file. Before purchase you can download a trial version of the scorecard. Oil Production Evaluation Balanced Scorecard Excel file contains a dashboard (see screenshots below), help information section, Balanced Scorecard details.
• Purchase full version of Oil Production Indicators. Immediately after your order will be processed you will have a link to download Balanced Scorecard Excel file and file in Balanced Scorecard Designer format.
• Check Excel Spreadsheets Collection for various business related Excel templates.

More useful information for Energy Evaluation:

• Related metrics and KPIs for: Gas Production.
• Energy best practices articles: KPI vs. Balanced Scorecard, Design Scorecard with BSC Designer, Performance Management and Control Problem of Oil Industry, Performance Management and Control Problem of Gas Industry.
• Balanced Scorecard forum. Join community interested in performance measurement tools, such as Balanced Scorecard, Metrics, KPIs. Recent posts in forum: Access data of ERP and CRM business systems, looking for Scorecard software - small companies, Re: Create metrics or create KPI, Re: Design scorecard and design KPI – what is the difference, Create metrics or create KPI
• Balanced Scorecard e-course. In this e-course you will learn more about Balanced Scorecard niche. We talk about Balanced Scorecard design and management issues.
• Balanced Scorecard toolkit. Is a whitepaper where you will learn more about mathematics that stands behind Balanced Scorecard, you will learn basic ideas that will help to design your own scorecard, develop and implement KPI in your business processes.
• Balanced Scorecard fact sheet. - the collection of business facts and statistics on Balanced Scorecard.
• Scorecard Design Software. This metric was designed with Balanced Scorecard Designer. This is a great tool for scorecards or KPI building, performance measurement and information sharing.

How to measure Energy performance with Oil Production Scorecard for Excel

We have designed Oil Production Balanced Scorecard in MS Excel, so now you can measure and control your performance using this popular business tool. Download trial version right now.

Why do I need these metrics?

MS Excel files that we distribute are a spreadsheets packed with metrics information and the performance calculation formulas.

It's a real-business information. We invested in research that involved experts from Energy Evaluation industry who elaborated and shared certain metrics. It's valuable, real-life experience which will help to improve the performance of your business.

• I'm sure you understand the importance of measuring and controlling business using correct metrics, so this small investment will return in a great increase in sales.

• To get a basic idea about what metrics to use. We learned a lot of business metrics and packed scorecard with the most successful.

• To have a sample excel file, which is easy to modify to fit your needs. All Excel formulas are available for copy and change.

• To start with measuring business performance. It's important to start with correct metrics, then you will be able to fulfill scorecard.

Oil Production Evaluation Balanced Scorecard Screenshots

Metrics for Energy Evaluation. This is the actual scorecard with Oil Production Indicators and performance indicators. The performance indicators include: oil production,finding and development costs,gross refining margin,production costs per barrel,oil exploration costs,customer perspective,injuries,fatalities,joint ventures success rate,social investment,internal processes perspective,spills,flaring,energy intensity,natural gas processing,environmental perspective,green house gas emissions,ozone depleting emissions,freshwater use,waste disposal. Right now you can download trial version of Oil Production Indicators or purchase full version of this Balanced Scorecard.

Some Balanced Scorecard help information that explains how to interpret scorecard. What scores and weights can be changed.

Download or purchase Oil Production Evaluation Balanced Scorecard