One-of-a-kind application provides E&P asset development costs and schedule in minutes.

An Online Tool for Unbiased Decision Making

Business decisions in the early stages of exploration and production (E&P) developments (M&A, farm-in, strategic opportunities, progressing opportunities, etc.) rest on inherently uncertain information. Opportunities with the most optimistic (and unrealistic) cost, schedule, and production estimates appear on the surface to be better investments than well-defined opportunities with grounded targets.

This optimism bias promotes portfolios where underperforming assets crowd out better developments. To combat this tendency the Opportunity Assessment Toolkit (OAT) equips investment decision makers with unbiased cost and schedule benchmarks in the critical early phases:

  •  Before cost & schedule estimates exist for an opportunity (during exploration, appraisal, or farm in/farm out evaluations)
  • When cost & schedule targets are immature or rely on limited data (FEL 1 stage economic feasibility and early FEL 2 concept selection)

Benefits

In less than 15 minutes, OAT can provide a full set of key decision metrics (using data from thousands of actual E&P projects), including charts, to compare individual opportunities in a portfolio. This enables decision makers to:

  • Quickly assess the viability and marginality of upstream opportunities during bidding, exploration, or early development
  • Understand an opportunity’s true development costs
  • Ensure only the highest return opportunities receive increasingly scant capital funds

 

IPA-Opportunity-Assessment-Toolkit-Individual-Scenario-Cost-Results-Screenshot-2Included Early Benchmark Metrics

  • Facilities, wells, export, and overall asset $/BOE for onshore and offshore facilities
  • Schedule duration for the Select (FEL 2) and Define (FEL 3) asset development phases, project execution, and overall cycle time
  • Recovery per well benchmarks

Schedule a Demo

To request a free demo please contact IPA Deputy Director Tom Mead.

 

Learn More:

Want more information on how the Opportunity Assessment Toolkit works? Complete the form below to download Raising the Bar on Early Stage Screening Tools: An Overview of the Opportunity Assessment Toolkit.


 

 

 

 

Go to top