Well Cost
Accurate cost estimates are critical for both low-level budgeting and scoping, and for the more detailed Authorization for Expenditure (AFE).
Companies need to make the most productive use of available funds. Underestimating project costs causes budget shortfalls and risks delays, while overestimating misallocates funds that could have been used on other projects.
Designed specifically for drilling and completions, Well Cost software provides powerful tools for producing accurate project estimates quickly and easily.
Get accurate, risk-based costing
Accurate cost estimates are critical for both low-level budgeting and scoping, and for the more detailed Authorization for Expenditure (AFE). Well Cost software generates a comprehensive cost estimate using either deterministic or probabilistic methods, whether you have detailed knowledge of your drilling program or a simple high-level list of tasks and costs. The software helps you understand the optimistic case, the pessimistic case, the most likely case, or any in between.
Save time and improve collaboration
When multiple engineers are involved in project costing, it often becomes difficult to analyze the results, as slightly different techniques are used and inconsistent assumptions are made. Well Cost software provides a consistent, easy-to-use, and customizable solution for costing that can be standardized throughout the entire organization. Standardization saves time, improves team collaboration, and simplifies training.
Share results
Well Cost software is built-on the Engineer's Data Model™ (EDM™) platform and integrates with Landmark's well design and planning tools, so engineers can access historical data and streamline cost estimation and reporting workflows. Reports and plots are automatically generated making it easy to analyze the results and present findings to key stakeholders. For example, integration with Landmark's OpenWells® reporting system allows Well Cost software to publish cost and activity information directly for use in OpenWells reports.
