Innovating Well Cost Control: A Leading Operator in Malaysia Sets a New Standard

Evolving from Spreadsheet-Based to Digital Workflows in Well Time and Cost Modelling

Struggling with inefficiencies from traditional spreadsheets and standalone modelling applications, the Operator sought to modernize workflows and enhance collaboration.

Key objectives of transitioning to cloud-native time and cost modelling software were improving productivity in well planning and achieving greater accuracy in well budgeting

A leading Operator in Malaysia transforms well cost management

How did iQx™ PLANS™ make a difference?

95% accuracy: Reliable well cost estimates with minimal scope adjustments
Accelerated simulations: Monte Carlo analysis completed in seconds, down from hours
Award-Winning operational efficiency: Secured the lowest $/ft for drilling over two consecutive years

What value did we bring?

Probabilistic cost estimation integrated into company’s D&W workflows with automated historical data input
Improved resource allocation and proactive decision-making
Unified collaboration for better planning and execution