While exploration builds an oil company's balance sheet, production operations generates the cash flow necessary to fuel exploration and production optimization activities. Through the alliance, Baker Energy and Production Access will become the industry's most efficient operating team for oil companies looking to maximize their returns on assets.
OPCO brings together production operations among a network of participants, with Baker Energy responsible for personnel recruitment and training, operations, maintenance, safety and environmental compliance, and supply chain management. Operations Center will act as the information management system for drilling, wellwork, production operations and asset performance information.
"The OPCO(SM) model for managed production operations services has proven to be appropriate and successful. Our clients are realizing increased efficiencies, profitability and cash flow by contracting with Baker Energy to manage their operations. The alliance with Production Access will significantly enhance our clients' ability to closely track activities and performance indicators, thereby maintaining, or in many cases improving, control of their assets," said Donald P. Fusilli, Jr., President of Baker Energy.
"This alliance is one that truly makes sense. With Operations Center as the central nervous system for production operations, the clients will be kept continuously informed of all critical information. Baker will be equipped to further enhance the performance of clients' producing assets, ultimately resulting in improved profitability," said Thomas R. Bandy, President & CEO of Production Access, Inc.
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