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IHS Costs Solution for Oil & Gas Industry

The drop in oil prices over the past year has continued to put pressure on margins. As oil prices are reaching a relative equilibrium, and as volatility recedes oil prices are likely to stay in the $50-$70 range in the short and medium term.

Rising upstream costs are driving the Oil and Gas industry towards a greater scrutiny on Capital and Operational expenditure; as margins are squeezed with returns down and costs up, there is no question a challenging set of scenarios for the industry lie ahead. IHS can help you understand the holistic impact of costs on your operations and empower your team to build strategies for optimizing CAPEX, OPEX, manage risks and build a comprehensive procurement strategy with information, analysis and future outlook provided for the complete Oil and Gas value chain.

We can help you in streamlining your operations and realize savings by:

  • Enhancing early phase cost-estimation with our world class project cost estimation tool IHS QUE$TOR®
  • Improving procurement strategy with over 500,000 historic price time series data concepts, and over 3,000 price, cost and wage forecasts
  • Benchmarking costs and expenditure with industry peers to see where you can reduce your CAPEX and OPEX
  • Understanding which development concepts (e.g. platform; tension leg platform; floating production, storage, and offloading vessels; and others) are most or least affected by specific cost and oil price drivers
  • Assigning activities and resources to all areas of an Asset from maintenance of a single compressor to any corporate overheads with Activity Based Costing (ABC) methodology
  • Identifying the best suppliers with 100 supplier assessment reports, 700+ company ratings and information on 95 service companies

Watch our Operational Efficiency Solutions video:

Products & Solutions

Upstream Costs and Expenditures

IHS Upstream Costs and Expenditure offering is designed to help Operators effectively monitor, forecast, and manage major capital and subsequent operating cost investments for onshore and offshore field developments

It enables effective negotiations with vendors based on real industry costs and provides an independent view of the global upstream cost environment with the provision of forecasts of short-term cost movements and long-term cost trends.

Based on IHS Global Scenarios and analyses the drivers behind changes in the markets of the upstream industry.

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Technology and Innovation

IHS Upstream technology and Innovation offering delivers i Independent analysis of technology advances and trends along with their potential tactical and strategic implications on costs.

It provides a set of proprietary frameworks and data resources that allow member companies to evaluate the impact of technologies on their existing portfolios as well as on potential investments. Through the research and analysis provided, the offering allows companies to assess where they stand in relation to industry peers.

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Oilfield Equipment and Services

IHS Oilfield Equipment and Services provides actionable market intelligence to support oil and gas companies’ contract and procurement teams and vendor Strategic Planning and MI teams in making better sourcing decisions

  • Detailed tracking, analysis and forecast of demand, supply, suppliers, category costs and the impact of key cost drivers
  • Enables better sourcing/ procurement decisions, more predictable project deliveries and bottom-line cost savings by identifying supply bottlenecks and opportunities
  • Better supplier relationship management for Operators and market / competitive intelligence for vendors

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Dec 14

RT @AAPG: AAPG and IHS Markit Host Super Basins 2018 - Register Now and discover the information you need to be successful in the world’s m…

Dec 12

RT @TomKloza: With apologies to Sesame Street, which of these things does not belong here? Brent - $64.65 bbl (highest since 7/2015); WTI…

IHS Energy Blog

Dec 07

10 fun facts from the energy industry

As we wrap up 2017, we’ve compiled a list of our most retweeted fun facts from Twitter. From facts about the energy industry and career progression to offshore opportunities and estimations of production dates, these are some of the facts you loved the most. Wind turbine technician is the country’s fastest growing job, increasing by 108 percent over the next

Nov 20

Dissecting the STACK

The last several years have seen a resurgence of interest in the Mississippian play in the northern Anadarko Basin, largely due to the advent of horizontal drilling and enhanced completion techniques. Today, large independent unconventional specialists focus on targeting the shales, siltstones and tight carbonates throughout the Mississippian section that, due to their signif

Nov 16

Domestic US coal, business edge dulled

US coal producers are changing their attitudes about coal exports and are indifferent to who the counterparty is due to the extreme short-term attitude of most domestic utilities. In the grand scheme (I can still think in terms of grand schemes, plans, etc. despite my other obvious limitations), that is probably good news for everyone in the coal chain – from

Optimizing costs through improved CAPEX and OPEX discipline

Operators looking into operating and capital expenditures need to look broadly. They need to take the time to analyze their operations, and extended supply chains at a granular level and surgically cut costs to boost efficiency if they are to achieve long-term growth, profitability, and competitive advantage.

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