At the heart of every efficient operation lies smart value engineering – and the Well Delivery Project is a shining example of that principle in action. With ambitious goals and a laser-sharp focus on cost, performance, and sustainability, the project set out to redefine how wells are delivered, from design to execution.
A Bold Vision with Measurable Impact
Three core objectives steered the Well Delivery Project:
- Reduce well costs by >25% per well, boosting project financial metrics.
- Install a new industry-standard low-cost well design, with optional company-specific enhancements approved through a disciplined governance process.
- Build a scalable strategy and execution model to embed best-in-class well delivery practices.
From subsurface drilling and completions to surface facilities and gathering infrastructure, the project covered the full value chain – excluding only areas where schedule or constraints made scope impractical.
Delivering Value, Driving Results
True value realisation is well underway. Progress has been driven by:
- Standardization and detailed engineering for cost-saving innovations
- Ongoing drilling & completion (D&C) trials focused on efficiency
- Strategic contracting improvements aligned with governance and annual execution plans
KPIs tracking cost and schedule savings per batch will ensure progress is visible, measurable, and repeatable. Accountability for delivery sits with the Project Director, reinforcing a strong performance culture.
Lessons Learned, Future Secured
Post-project reflection highlighted the power of data, benchmarking, and high standards to identify and close performance gaps. With strong momentum behind the team, the path forward includes creating a dedicated forum with senior leadership champions to drive continued innovation, transformation, and cultural alignment.
Yet, challenges remain. Organisational resistance to change and fear of failure pose real risks to sustaining gains. Leadership continuity and robust governance structures will be vital to prevent regression and maintain strategic discipline.
Conclusion
The Well Delivery Project showcases how value engineering, when applied with rigor and vision, can deliver transformative results. With millions in cost savings on the table and a roadmap for scalable execution, this is more than a project – it’s a new way of working. The future of efficient, benchmarked well delivery is here – and it’s delivering value, well by well.
If you looking to drive value improvement in your business and could do with some support please contact Tim Phelan at tim.phelan@twenty50.net.au
