IHS AssetBank™ Provides Fast Initial Valuations Of Oil & Gas Discoveries
Changing development costs tracked automatically for high-confidence results
HOUSTON (February 1, 2006) – In a market where higher oil prices do not always equate to cost effective drilling prospects, IHS AssetBank provides energy companies and financial analysts with a one-of-a-kind tool to rapidly estimate future profitability.
Released today by IHS, a leading supplier of critical information and decision support tools to the energy industry, AssetBank is a new software system offering instant access to pre-calculated asset valuations based on up-to-date pricing norms and development costs. This first release covers more than 750 undeveloped oil and gas fields in selected regions from the Gulf of Mexico, to the Middle East and Russia.
"AssetBank delivers a new agility to exploration strategic planning,” says Scott Key, senior vice president of Strategic Marketing and Marketing Communications for the energy operating segment of IHS. "With today’s levels of supply anxiety and high prices, operators are pressed to bring undeveloped reserves online at a rapid rate, and in rapid succession. The valuations from the first release of AssetBank provide fair warning that that the higher oil prices do not necessarily mean higher profitability for every asset, due to cost factors such as steel prices, and other constraints. AssetBank creates a basis for comparison of opportunities that is thorough, consistent, and aligned with market conditions.”
In addition to pre-calculated valuations, AssetBank includes query and estimating tools for modifying assumptions, adding new assets and screening them to meet preferred criteria. The result: An interactive platform for energy companies to quickly assemble the broadest possible set of new opportunities, which can then be screened against preferred criteria for strategic fit.
AssetBank speeds up this process by providing an initial assessment of each asset’s unique reserves potential, cost to develop, production profile over time, and potential profitability based on the fiscal terms of the host country. By leveraging proven IHS databases and engineering software, AssetBank can offer a first-pass evaluation spanning all of these factors, delivering key statistics, a field development plan and full economics for each asset.
Based on a user’s ability to immediately add new assets, AssetBank can generate a high-level field development plan and economics evaluation within 30 seconds. AssetBank's integration with
QUE$TOR®, the industry standard software for cost analysis and field development planning, and AS$ETä after-tax economics software, means that its quarterly asset updates, and those added by the user, will always reflect market conditions such as supplier and materials cost changes and new fiscal terms.
IHS Energy (www.ihs.com/energy) provides integrated E&P information, software and consulting services to oil and gas companies worldwide. IHS Energy is an operating segment of IHS Inc. (NYSE:IHS). IHS is one of the leading global providers of critical technical information, decision-support tools and related services to customers in a number of industries including energy, defense, aerospace, construction, electronics and automotive (www.ihs.com).
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