Assets and Facilities

It is important to note that a Facility is not the same as the building, warehouse, or oil well that occupies it. The building can be torn down and rebuilt and the Facility is the same, in terms of its location and purpose. It is also true that in the oil field business, a large piece of equipment that moves from place to place is considered a Facility that moves, which is one reason why Effective Date and Until Date appear in Geographic Placement in Figure 12-5.

A reasonable piece of information that people want about an Asset, then, is “where is it now?” So, in Figure 12-7, each Asset is shown to be currently at one and only one Address. Note that, while for some companies it may be required to know where everything is, ...

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