Raising Accountability for Oilfield Equipment with Asset Tracking Software

According to the Association of Energy Service Companies (AESC), oilfield thefts amount to an estimated $1 billion USD annually. Stolen equipment ranges in value from $100 to $10,000 USD or more per item and includes laptops with proprietary information, control panels, pipes, valves, heavy equipment and anything else that isn’t bolted down, as well as some things that are.

Clearly, there’s a problem. What’s interesting is that many of the well service companies we’ve contacted deny ever having anything go missing, whether stolen or unknowingly misplaced. I suppose it’s not surprising really. We’ve seen this scenario before.