Business Value
Business Advantage. IHS's data, software tools, news and analysis help independent oil companies by delivering affordable, accurate, time-saving information at a cost in line with their resources. Companies that rely on IHS recognize the following:
IHS data is affordable while at the same time allowing independents to compete with the bigger companies. It evens the playing field.
Our tools reduce the time it takes to create normalization plots, monitor offset operators, and calculate reserves and production. That translates to faster decision making and the ability to broaden the size of our projects to incorporate more data.
IHS Data is continually updated and corrected, reducing the discrepancies and mistakes that exist in other data. When it comes down to what information to trust, operators turn to IHS data because the quality and accuracy is so much higher.
From basic maps for location to bubble maps to talk about recoveries and reserves, maps can be created in minutes, giving explorationists powerful visual support to explain engineering findings to non-engineers
The seamless interface between PowerTools and IHS well and production data boost efficiency in performing evaluations. Because engineers don't have to waste time downloading data from state sites or creating databases, they can focus their efforts on the evaluations themselves
The level of detail in IHS data allows operators to be more comfortable with acquisitions. It also helps them easily update reserve reports when the banks come in each year, and prepare reports and determine present worth when trying to borrow funds. Companies can justify why they're not an economic risk by showing the equity in their wells.
Business Process Gains. Companies also report the following positive impacts on their preferred work processes and outcomes:
Greater confidence in property evaluations and drilling prospects in Louisiana and Texas , where state data is only reported at the lease/unit level. IHS's detailed allocated data, calculated and provided by well, allows you to study well crude, casinghead gas and water production profiles based on initial production and subsequent well tests, as well as map individual well production by zone.
More confident property evaluations and original oil/gas-in-place estimates from using exceptionally accurate cumulative historical production figures.
Improved basis for buy/sell negotiations through generation of highly credible estimates of reserve potential.
Greatly reduced time and increased confidence in the screening process, which encompasses studying hundreds of opportunities, narrowing the list to a handful and assessing one opportunity in depth – all without the need for significant outside verification of the data.
Ability to develop proprietary techniques for finding missed plays, using well, production and decline curve data to develop regional analogs or to pinpoint areas where reservoirs are being ineffectively drained |