International Petroleum Corp. enhances cost and risk scheduling confidence in its French drilling operations

How iQx PLANS software enabled more reliable well time and cost estimates, improved risk visibility, and streamlined operational workflows.

Before working with iQx PLANS, IPC relied on traditional spreadsheet-based well planning workflows. This limited the IPC team’s ability to quantify uncertainty in well construction for well time and cost forecasts, assess the impact of potential NPT and other risk events, and evaluate alternative drilling output scenarios. As a result, contingencies were often applied conservatively at the AFE level, providing limited insight. The team was also unable to address uncertainties and plan for risk mitigation.

Since implementing iQx PLANS, the IPC well and drilling team has significantly improved the efficiency and reliability of its well planning and cost forecasting processes. iQx PLANS enables greater flexibility in managing changes to time, cost and risk models while preserving confidence in estimates and decision-making.

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Key improvements include:

• Assumptions and planning conditions can be updated once and applied across multiple wells and campaigns, reducing manual workflows and ensuring consistency in the well construction process
• One integrated cost book that supports both well planning and ongoing cost tracking, providing a single source for cost controlling and forecasting.
• The probabilistic time and cost estimation approach delivers more robust cost and risk forecasts, increasing AFE confidence and helping helping the decision-making process.

"iQx PLANS has significantly improved how we manage well planning and cost control. By creating a cost book that moves directly from well planning into operational tracking, we’ve established a consistent cost structure that aligns with our accounting system and enables daily collaboration with cost controllers and finance.

The platform has improved our understanding of the risk management process and provides data-driven insights that support both day-to-day execution and long-term strategic planning.”

Drilling Manager at IPC