PlanningSpace™

Precisely allocate capital, to finance the growth of reserves in order to generate and increase earnings.

PlanningSpace™ is a next generation, cloud based planning platform for the upstream oil and gas industry. The software solutions that Palantir has developed and perfected over the years, such as Portfolio Optimization, Financial Forecasting, Economic Evaluation, Reserves, Decline and Data Collection sit at the core of PlanningSpace™ to provide an integrated platform that handles all planning needs from well level to the corporate portfolio.

PlanningSpace™ is cloud enabled and provides a single open database structure, which is infinitely extendable, so that it can connect to any number of third party tools and data sources. It is easy to implement and use, significantly reducing total cost of ownership.

WHY WAS IT BUILT

In a typical oil company, there are three key areas that are involved in planning: Capital, Reserves and Earnings. Each of these three planning areas tend to have their own people, tools, processes and are disconnected or operate in silos. In order to mature a planning process, it is essential to connect these planning groups and enable collective decision making. Mature planning processes are those that provide timely and accurate data to support key decisions. The ability to rapidly and reliably repeat a planning process reduces the cost of delivering the high quality insights that are key to designing and executing effective strategic business plans. Disconnected planning prevents companies from making fact based decisions on timely, accurate data. Companies struggle to reliably repeat planning processes and the end result is fewer insights that result in strategic plans that are of low quality.