From the outside looking in, engineers are often seen as the lifeblood of any oil and gas enterprise. While they play an undeniably crucial role in this kind of business, they’re supported by an equally important administrative office. The project secretaries and administrative assistants who ensure everyone has a workstation and the tools they need to execute their roles are just as vital to an oil and gas company’s success.

It goes without saying that there is a cost attached to having this administrative team in place. But the salaries of administrative staff are not the only necessary administrative expenses to consider. You also have to factor in the cost of stationery, computer hardware and software, ISP fees, rent, and travel expenses. Managing these will help you retain a better margin and sustainable operations. You will also be better positioned to finance the expansion of your company when the opportunity arises.

If you own or manage an oil or gas company and are looking for ways to cut down on administrative expenses, consider the following tactics:

  1. Outsource for Administrative Help

You can consider bringing in administrative personnel from a company specializing in the sourcing of such workers, such as EAG 1Source. This will free you from the cost of catering for their medical expenses and social security. You also won’t have to foot subscriptions for software for back-office tasks which administrative staff handle, including keeping track of cash inflows and outflows.

In the oil and gas business, you particularly need an outsourcing firm with the expertise to take care of your upstream and downstream accounting. The accounting platform they provide should enable you to keep tabs on such vitals as your cash management, authorization of expenditure management, general ledger, fixed assets, revenue distribution, and inventory management.

Your chosen oil and gas administrative services provider should also have the experience required to fully take care of financial reporting. They should help you generate monthly and quarterly financial reports that will help your company’s stakeholders keep a finger on the firm’s financial health. In addition to this, the platform they provide should produce key data relating to land administration. This includes precise geographic information system (GIS) mapping and acreage reporting.

  1. Hire Remote Workers

Many firms’ interest in remote working has piqued due to the COVID-19 pandemic. But savvy oil and gas firms had realized the benefits of bringing in workers who can dispatch their duties remotely years before social distancing was a thing. Your administrative staff don’t all have to be in the office; they can do things like filing, arranging transport and accommodations, and ordering equipment from the comfort of their homes.

Hiring remote workers will help you eliminate expenses such as transport allowances or mileage from these employees’ wage packages. Also, some employees are willing to take a slightly lower wage if they don’t have to put up with the daily commute’s bustle and expense.

In addition to the wage savings, you can also make savings on office space rent. Fewer employees physically present in the office means you can rent out less office space. Your monthly energy, water, and internet bills will be lower.

  1. Maintain Office Technology

When it comes to damaged tech hardware, prevention is better and cheaper than repair. Maintaining your office equipment will ensure it serves you longer and won’t cost you a fortune in repairs. You can have an outsourced team to handle this for you so that you keep your wage bill low while getting your technology checked by experts specialized in equipment maintenance. Having an expert regularly ascertain the functionality of your desktops, laptops, printers, and other equipment will potentially save you thousands of dollars in premature replacements.

  1. Use Airline Miles for Travel

Keeping a lid on travel expenses can help you improve your margins significantly. You can do this by cutting out all unnecessary travel. Where possible, let virtual meetings replace physical ones. Another way you can reduce travel and accommodation costs is to cash in on airline miles rewards programs. Depending on which airline it is, you can use the frequent flyer points to pay for hotel accommodations or get cut-price tickets.

  1. Use Less Paper

You can cut the amount of paper you use by, first of all, urging your staff not to print out emails or any other documents if they don’t have to. Send and file your invoices, receipts, and other documents relating to sales electronically to cut costs while simplifying your administration.

Free Your Business from Unnecessary Expenses

Bringing down your administrative costs can be all that’s needed for your oil and gas firm to break even. Taming your executive wage bill and reining in travel expenses can free up funds for the marketing push required to take your firm to the next level. But as willing as you may be to make the necessary adjustments, you may not be able to implement them fully without a little help. Outsourcing may be the best way you can maximize your administrative cost reduction potential.

Choosing a hot water tank can be tough. Most of us don’t know that much about our water heaters, and don’t think about them until it’s too late. So if your hot water tank has failed, or you think that it may be nearing the end of its service life, you may be wondering how to choose a new one.

Replacing a hot water tank can be a big financial investment, which is why we recommend that you take your time, and do your own research to purchase a hot water tank that offers low running costs, a great warranty, and plentiful capacity for your family.

Not sure how to get started? Here’s a guide that’s sure to help. 

  1. Calculate The Proper Capacity For Your Home

First, you’ll want to consider what capacity you actually need for your home. If your home has an oversized (or undersized) hot water heater, you may be paying more than you need to on your water heating bills.

So, how should you calculate the capacity that you and your family need? If you live with one other person in a small condo or home, you may need a smaller, 23-36 gallon tank. However, if you live in a larger house with 3-5 family members, you may need a tank with a 46-56 gallon capacity.

This calculator from can help you calculate the proper capacity for your water heater. Smaller heaters are typically cheaper, and cost less to run, while larger heaters are more expensive, but can deliver more heated water on-demand.

  1. Look At Running Costs – Not Just Purchase Costs

You may be getting sticker shock when shopping for a hot water tank – but don’t just think about the initial purchase price of a hot water heater.

Energy efficiency is absolutely critical for your hot water tank. Even if you spend a bit more money for a more efficient, well-insulated tank, your investment will pay off, in the long run.

Water heating consumes about 20% of the power usage for most households. This means it’s only behind the HVAC system when it comes to year-round power usage.

If you spend a bit of extra money on a highly-efficient water heater, you can save significantly on your gas or electric bill each month. And, given that most hot water tanks have an expected lifespan of 12+ years, this adds up.

For the sake of example, let’s say that your old hot water heater used $40 of energy per month, and you’ve purchased a model that’s 10% more efficient. Your bill will drop to $36 per month. Multiply that by the service life of the unit, and that’s a savings of $576.

Real-life efficiency ratings vary, of course, but the same principle applies. By spending a little bit more on a more efficient hot water tank, you can save a lot of money in the long run.

  1. Decide Between Electricity And Gas

Usually, the least expensive option when shopping for a hot water tank is to buy a tank that uses the same fuel source as your old tank.

That is to say, it will usually be cheaper to hook up a new electric hot water tank than it would be to switch to gas – because there would be no additional labor required to run new gas lines, and so on.

However, this is not always the case. You may want to switch between gas and electric, depending on the cost of power and gas in your area. In some cases, the cost of natural gas may be much higher than electricity, making it worth spending the extra money to install a gas model. The opposite may also be true, and it could be wise to switch to an electric unit.

Gas models are also slightly more efficient than electric hot water tanks, so this may be another factor to consider if you’re thinking about switching. Think through your finances and utility costs, and you’ll be able to decide which option is right for you.

Consider These Three Factors When Shopping For A Tank!

By choosing a properly-sized tank, focusing on energy efficiency, and opting for a gas or electric unit, depending on your utility costs, you can save quite a bit of money when installing a new hot water tank. So follow these tips now, and you’re sure to find a unit that’s right for your finances