TrueCost Opportunity Benchmarking Software

Find and Benchmark the Right Upstream Oil & Gas Opportunities

  • Use IPA’s project database to quickly identify the right upstream oil and gas opportunities for your company
  • Benchmark the value, cost, and schedule of your exploration and production (E&P) opportunities
  • Compare your company’s portfolio performance against the industry
  • Eliminate the time-consuming process to collect, verify, and normalize industry data from public sources

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What Is TrueCost?

A quick look at why oil and gas companies are using TrueCost to improve project appraisal, concept selection, and front-end design.


Real Oil & Gas Data Directly From Project Teams

Many companies waste valuable time and resources collecting publicly-sourced data to use for evaluating potential exploration and production (E&P) opportunities. TrueCost eliminates this time-consuming process by providing access to real early phase unit development cost (UDC) metrics ($ per BOE) and cost and schedule benchmarks from 2,000+ real E&P projects in IPA’s proprietary capital projects database.

Carefully Validated and Normalized Upstream Data

Collecting project data from public sources is not just time-consuming, but the incomplete, non-normalized nature of these data sources makes them unreliable. All cost and schedule data contained in TrueCost are validated by IPA project analysts and carefully normalized by our team of economists to account for currencies and inflation.

Accurate Results in Real-Time

TrueCost is easy to use and generates accurate results in 30 seconds or less. Much like filtering tools commonly used to shop for homes and vehicles, 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). TrueCost displays cost and schedule metrics for real projects that meet the selected criteria, enabling direct, apples-to-apples comparisons between an opportunity and/or portfolio.

Improve Decision Making by Answering Key Questions

  • Where are the optimal E&P opportunities located for my company?
  • What is the expected value, development cost, and duration of my next oil & gas opportunity?
  • How does my company’s project portfolio performance compare to industry averages?

Oil & Gas Tech Podcast Highlights TrueCost

IPA’s Jason Walker was the featured guest on the Oil and Gas Tech Podcast recently. Click the Listen button below to hear Jason talk IPA’s history, data expertise, TrueCost, and more!


Key contact

View Shubham Galav’s profile

Shubham Galav

Deputy Director, Project Research Division, Cost Group

Learn More

Contact us today to learn more about how your company can improve decision making with TrueCost.