Realizing the Limit (RtL) is an alternative planning approach through which substantial value and efficiency gains can be achieved. The methodology challenges the current status by identifying what is possible under perfect conditions (Technical Limit). Difference between historical performance and Technical Limit represents the improvement opportunity. End-result is that, even though perfection may not be attained, a step change in performance improvement will be achieved, implementing the ideas generated.
In the Oil & Gas industry, RtL has delivered many millions of dollars in cost savings and efficiency gains, for example in drilling operations, and it can unlock hundreds of millions of dollars revenues in vastly improved field development plans, production operations and commercial deals.
RtL creates success by strong focus on “doing the right things and doing those right”, for example in subsurface evaluation, field development planning, well engineering campaigns, production optimization projects, organizational review and commercial decision making. It can result in step change improvements in project, portfolio and capability management, and may lead companies to change their strategy.
Primary purpose of RtL is to jointly with the client deliver plans to realize optimum performance, efficiency and effectiveness in the clients operations, projects and organizations in the longer term.
In addition, RtL aims to identify quick wins that could unlock value in the short term, such as cost savings, operational efficiency gains, raising the bar on skills and competences, effectiveness improvement and identifying synergies between projects.
Perfection means different things to different people. Only when a common understanding and acceptance exists of what perfection is, can the Technical Limit be set. Therefore, RtL is best applied by an integrated, multidisciplinary team that brings the right expertise and experience levels to facilitate the structured approach required to realize success. Triple EEE can provide a great team of Subject Matter Experts to perform the initial assessment and to support your team in facilitating follow-up implementation of RtL opportunities and recommendations in key projects.
The initial assessment involves several steps: data gathering, data analysis, interviews with key staff and identification of improvement opportunities, using Realize the Limit techniques. This assessment can take 1-2 weeks, depending on the amount of data and size of the field(s). It can be planned at relative short notice, provided the relevant data is available.
Deliverables will vary per project, but common improvement elements identified by RtL are better upfront planning, earlier decision making, planning for success, integration & collaboration, and capability enhancement. Triple EEE can help the client pursue a significant change in mindset, attitude and performance, provided there is support from all levels within the client company.
To follow-up on recommendations made, Triple EEE can provide support to design and plan execution of operations for a quick win, and improved field development planning efforts, for mid to longer term success.
Triple EEE provides additional management support services, linked to RtL, that can help you realize the full value of your assets and opportunities. For example: