Well construction is usually the largest cost of projects: therefore, when evaluating whether to bid for an asset, or further down in the project, companies often need to have an external computation of well engineering costs.

The Time Estimate is built from a detailed operational timeplanner for well construction, with operative times linked to offsets performance and the well’s specific characteristics.

NPTs and contingency are added based on experience and in agreement with Client, to obtain a Budgetary Time Estimate.

Results need to be transparent, with all the assumptions clearly stated.  The estimate can be updated as the project develops.

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