Services

TrueCost Oil & Gas Data Software

Quickly access cost & schedule data to improve early stage decision making

  • Assess the attractiveness of upstream oil and gas opportunities using real industry data
  • Identify where the optimal E&P opportunities are located for your company
  • Compare your company’s portfolio performance against competitors
  • Eliminate the time consuming process to collect, verify, and normalize industry data from public sources
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Contact us today to discuss how your organization can use TrueCost to improve early stage opportunity decision making.

Reliable Industry Data at Your Fingertips

For oil and gas companies, evaluating a potential exploration and production (E&P) opportunity requires access to industry-level data to quickly assess its expected value, development cost, and duration. Many companies rely on industry data from public sources for this purpose, but the process to gather these data is time consuming and the incomplete, non-normalized nature of these data sources makes them unreliable. IPA’s new TrueCost software application fills this void by providing easy access to carefully validated and normalized cost and schedule data from 2,000+ major E&P projects in IPA’s extensive capital projects database.

Real-Time Results

TrueCost is a web-based filtering tool that oil and gas companies can use to quickly assess the attractiveness of E&P opportunities and improve early stage decision making. Much like filtering tools commonly used to shop for homes, vehicles, and consumer products, users start by selecting a concept type (FPSO, Onshore, LNG, etc.) and then applying a variety of filters (e.g., region/country, hydrocarbon type, water depth, completed vs. ongoing, authorization year, greenfield vs. brownfield, and more) to pare the data down according to preferences. Projects that meet the selected criteria are displayed in real-time, revealing the following primary cost and schedule metrics for each:

Real Data From IPA’s Project Database

The early phase unit development cost (UDC) metrics ($ per BOE) and cost and schedule benchmarks provided by the TrueCost application come directly from 2,000+ major E&P projects in IPA’s proprietary capital projects database. All data included in the tool are collected directly from project teams, validated by IPA project analysts, and carefully normalized by IPA’s team of economists to account for currencies and inflation.

Key contact

View Jason Walker’s profile

Jason Walker

Principal Deputy Director, Research

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Contact us today to discuss how your organization can use TrueCost to improve early stage opportunity decision making.