Resumen del autor, extraído del trabajo. Oil and gas operators are forced by rising investor expectations and a declining resource base to both improve operating standards and reduce the cost of operations. During the past 5 years, the authors’ firm has studied the costs and methods of oil and gas operations for nearly 2,000 fields. These studies include Western Canada, most producing basins in the US lower 48 states (onshore & offshore), and focus on developing an understanding of leading practices of successful operators, and identifying areas for remedial action to enhance cash flow. The paper examines various methods operators use to identify specific high cost areas in field operations for remedial action, and then detail examples of successful remedial work. We will focus on cost saving opportunities and practices utilised in Offshore Operations (Shelf and Deepwater).