Benefits of bMark™

The oil and gas market is changing.

  • The big field developments of last century are aging. New discoveries are typically smaller, more marginal and harder to reach
  • Volatile market forces have squeezed company resources, forcing people to do more, more quickly, with less time and resource
  • The worldwide ‘Big Data’ revolution has meant that the industry now has access to more analogue field data than ever before

bMark™ harnesses the power of ‘Big Data’ and translates it for our users, providing rapid insight into any oil and gas portfolio, saving you time and money. bMark™ is already being used across the industry to solve common industry problems.

Mergers & Acquisitions

The Problem:

  • Most Oil & Gas companies grow by trading the right assets at the right price
  • To find and understand the right assets takes time and resource
  • Sub-optimal investment decisions result when M&A processes are:
    • Ad-hoc
    • Resource constrained
    • Subject to the limited knowledge & biases of the analyst
  • Sub-optimal field transactions cost stakeholders millions of dollars every year
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bMark™ Solution:

  • Reduce bias – Evaluate opportunities using data from 30,000+ fields, rather than relying on small personal or company data sets
  • Audit workflows – Transfer knowledge between analysts smoothly using bMark™ standard project files, rather than bespoke spreadsheets
  • Benchmark opportunities – bMark™ benchmarking gives predictions of project reserves and required CAPEX investment based on a small number of required inputs, allowing the most attractive opportunities to be rapidly screened and devoted more analysis time

Portfolio Reserves & Analysis

The Problem:

  • Assets compete for capital in oil company portfolios
  • Investment prioritisation requires collaboration and understanding across all internal disciplines, technical and commercial
  • Companies need to communicate effectively with external stakeholders such as banks or regulators
  • Without a suitable platform for field-to-field benchmarking, portfolio analysis is subject to individual bias and internal politics, often leading to over-estimation of reserves and sub-optimal investment decisions
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bMark™ Solution:

  • One source – bMark™ captures all of your field data into one place allowing rapid and consistent comparison between assets
  • Quantification – Benchmarking quantifies asset performance against a common benchmark, allowing high-grading of assets for investment
  • Assurance – Benchmarking allows overly optimistic or pessimistic reserves bookings to be screened prior to entering the company ledger

Field Development Optimisation

The Problem:

  • The Oil & Gas industry is one of the most capital-intensive industries in the world with project NPVs highly sensitive to initial over- or under-investment
  • The initial Field Development Plan (FDP) is crucial – wells & facilities must be ‘right-sized’ at the time when least is known about reservoir potential
  • FDPs are typically constructed using idealised computer models based on a small amount of initial well data supplemented with ‘rules-of-thumb’ or personal experience
  • Analogue data captures ‘real-world’ effects that computer models cannot, however interrogation of analogue data is time-consuming and large industry databases are very expensive, which means that this data is often under-utilised
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bMark™ Solution:

  • Global Data – A constantly growing database of 30,000+ oil & gas assets allows FDP assumptions to be tested against analogues, at a much lower unit cost than competitor databases
  • ‘Real-World’ Performance – bMark™ utilises Belltree’s unique Field Quality Index (FQI), allowing typically optimistic pre-drill reserve predictions to be cross-checked against real-world analogue field performance
  • Right-Sized Investments – FDP infrastructure assumptions can be rapidly benchmarked to ensure appropriate up-front capital investment

If you would like more comprehensive detail on the benefits that bMark™ can bring to your business, please Request a Trial or Contact Us for further information.