To take advantage of exploration opportunities, companies need access to complete and accurate data to value potential targets and assess their impact on the existing portfolio. However, in many businesses gathering and consolidating data is time-consuming and challenging. Consequently, decisions are often made using incomplete and out-of-date information which can result in costly consequences and missed opportunities.
Palantir delivers fast, effective solutions to help you to identify and value potential exploration targets and understand their impact on your current portfolio. With Palantir you will gain insights into which exploration strategies offer the greatest return for the least risk. Ultimately you will be able to select the exploration prospects which are most closely aligned with company strategy and performance metrics.
With Palantir you can:
- Model your entire international exploration and appraisal portfolio in one application
- Manage and define drilling programmes: easily include, exclude and shift wells in the inventory and immediately see corresponding capital profiles, production forecast and impact on portfolio value
- Ascertain the level of wildcat activity required to meet company targets with differing levels of confidence (e.g. how many wells should be drilled to give a 90% chance of achieving long-term reserves replenishment targets)
- Compare and contrast alternative exploration strategies
- Utilise optimisation techniques to apply real-world constraints to your portfolio such as licence expiry dates, project dependencies, budget and rig availability constraints
- Maximise portfolio net present value (NPV), expected monetary value (EMV) or risk adjusted value (RAV)
- Perform multi-dimensional ranking and categorise opportunities by country, business unit, basin, play type, etc.
- Examine opportunities by analysing the maturity of reserves - prospective and contingent resources and reserves
Our approach delivers real benefits:
- Time saving - you can easily add new prospects to keep the inventory up to date and easily rerun the entire portfolio on new sets of assumptions
- Consolidated view - look at rolled-up portfolio (CLT), perform gap analysis against business targets, overlay exploration portfolio on existing business plan
- Reliable, accurate and consistent data – easily maintain a central database for all leads and prospects ever evaluated so that new decisions can be framed against previous ones