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Economics

Asset development involves the continuous management of uncertainty. One of every four projects, for example, experiences a reserves downgrade of at least 20% over its life. Development plans are sub-optimal as soon as they are made because technical knowledge, operational efficiency, and commercial conditions are always changing. Recalibrating plans along the way requires a dynamic economics system that couples many components of risk, from the corporate planning-level to the asset-level so operators can:

  • Make quick decisions in the field and in the office based on business value creation
  • Reduce uncertainty in field development plans

Landmark has teamed with Palantir Solutions in developing technology that helps companies think about each decision in terms of its expected value. Watch how industry favorites like ARIES™ become the foundation for managing a company’s Petroleum Investment Lifecycle.



75% of field development projects fail to meet value expectations according to Independent Project Analysis.

Development Planning

Acquisition and development teams and investors must develop conceptual field development plans on which to base large investment decisions. They aim to estimate costs with 70% accuracy.  FieldPlan® generates graphical, technically-robust concepts in minutes and benchmarks them against those of similar projects. Anyone on a team can log in via a web browser to view the plans. Costs are based on an up-to-date global database.  As asset teams take on new investments and aim to estimate costs with greater accuracy, WellCost provides the information using engineering specs.

FieldPlan »

Well Cost »


Asset Economics

ARIES, the most trusted asset economics software in the United States, is a flexible, enterprise-strength global economic and reserves software and can enable companies to efficiently evaluate and manage any number of assets, projects, and rollups in a collaborative database environment.  Processing speed, automated forecasting, and mass data editing make company technical resources more productive and responsive.  Both evaluation of new opportunities and management of producing assets depend on it.

ARIES»

 



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