Tracking Assets in the Oil & Gas Industry


The case for tracking assets in the oil and gas industry has never been stronger. Advancements in technology have made it possible for oil and gas companies to run more efficiently. To preserve that efficiency and maintain high safety standards, the IT fixed assets that make you must routinely service those processes possible. Oil and gas companies are no different than any other company from the standpoint that they, too, are under pressure to keep their operating costs in check while keeping their production at a high level. An IT asset tracking platform is one of the best ways to ensure the efficiency of your operations, manage any potential risk or security issues that arise, and ensure the safety of your equipment while continuing to meet standards of compliance.

Oil and Gas Industry Asset Management: Why You Should Consider Tracking Your Assets

Many IT assets that help keep oil and gas companies running smoothly routinely change hands, making it easy for them to go missing in action. Your employees often spend inordinate amounts of time trying to hunt down those missing IT assets.

Without a reliable system for tracking assets that compiles all of your comprehensive asset data in one location and serves it up in real-time, it can be tough to pinpoint where those assets should be. The ability to determine in seconds the expected location of any IT assets eliminates that negative impact on your productivity.

The Importance of Equipment Tracking for Oil and Gas Companies

When IT assets aren’t properly maintained, they slow down or even break down. Slow-moving assets also can leave your company vulnerable to hackers. The stakes can be very high when you fall victim to a security breach. Tracking equipment with a formal oil and gas asset management system enables oil and gas companies to outsource that function effectively. You can set up custom alerts and notifications, so you never miss critical updates and other maintenance.

Features to Look for in Oil and Gas Equipment Tracking Software

Some systems allow you to create work orders as well. The system stores the entire lifecycle of any asset, including its complete asset maintenance history, warranty expiration, insurance policy, lease or purchase information, and value, among other details.

And, because you’re keeping up with the preventive maintenance, your IT assets require, you maximize the lifespan of these assets and avoid the costly repairs, rush orders for parts, and even replacements that can come from poor or nonexistent asset tracking procedures. And when you do order new IT assets, you can do so based on factual information – not guesswork about how many assets you think you have or what you think might be their current condition.

Some additional key benefits of tracking assets are:

  • Organizing your data by specific projects or groups, which saves time and eliminates frustration
  • Establishing custom security based on location or employee
  • Improving communication with your workers on-site in the field

Asset Panda's Oil and Gas Asset Tracking Software

Tracking assets through a mobile device provides you with the convenience of instant access from anywhere at any time. In the past, asset data was tied to our desktop computers, requiring employees to be in the office to pull up information on an asset.

Now, it’s as easy as reaching for your smartphone or tablet. You can enter and verify information, view updates from other team members, create reports, schedule service, and much more 24/7.

Asset Panda’s approach to tracking assets is robust, customizable, flexible, streamlined, and intuitive. It’s easy to learn and delivers significant savings of time and money. Most importantly, you’ll have the peace of mind from knowing your critical assets are properly maintained – so you can focus on what you do best.

Do you want to see why Asset Panda is the go-to oil and gas asset tracking software? Try our software free for 14 days! (No credit card required.)


Courtney Roush

Courtney Roush is a freelance writer, editor, and communications strategist with 25 years of experience. Her favorite discipline is crisis communications – and it’s a highly relevant one in our present times.

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