Accurate cost estimates.
Well Cost software produces accurate project estimates quickly and easily to make the most productive use of available funds. This is critical for both low-level budgeting and scoping and for the more detailed Authorization for Expenditure. Underestimating project costs causes budget shortfalls and risks delays, while overestimating misallocates funds that could have been used on other projects.
Generate a comprehensive cost estimate using deterministic or probabilistic methods, irrespective of the level of detail captured in the drilling program. The software helps users understand the optimistic, pessimistic, the most likely cases, or any in between.
Standardize well costing with a consistent, easy-to-use, and customizable software that can be used throughout an entire organization to help remove inconsistencies, improve team collaboration, simplify training, and save time.
Access historical data and streamline cost estimation and reporting workflows via the integration of Engineer's Data Model™ (EDM™) software and other Halliburton Landmark well design and planning tools. Reports and plots are automatically generated, making it easy to analyze the results and present findings to key stakeholders. For example, integration with Halliburton Landmark OpenWells® operations reporting software allows the Well Cost software to publish cost and activity information directly for use in OpenWells reports.