SmartZoft Decision Tools

SmartBid™ Competitive Bidding and Lease Software for the Gulf of Mexico

Easy-to-view competitive analysis of bidding actions and results
Proprietary predictive model provides likelihood of bid activity on blocks of interest
Proprietary model provides a robust estimate of competing bid amounts on blocks of interest
Decision analysis model includes probability of winning and an optimal bid recommendation
Map-view presentation of all well, platform, lease ownership and bidding data
State-of-the-art approach to bid setting improves overall E&P performance

SmartZoft Decision Tools develops and helps implement decision analysis-based software for the oil and gas industry. The SmartBid™ competitive bidding software for the Gulf of Mexico, released in 2009, is designed to save E&P companies millions of dollars in bonus bids and increase the likelihood of winning blocks of interest.

Combining historical bidding data and a state-of-the-art decision analysis model, the SmartBid™ software application is an invaluable aid to operators participating in Gulf of Mexico lease sales.

The SmartBid™ software was developed to meet the needs of exploration and development decision-makers who recognize that bid outcomes can be highly uncertain. By explicitly linking historical bidding behavior and a forward-looking decision analysis model, bid decisions are dramatically improved by increasing the chance of winning and avoiding the ubiquitous overbid or winner's curse that costs operators millions of dollars in overbidding.

SmartBid™ Software

How it works

Benefits

Features

Consulting and training

Lease, bid, well, & platform data

“Offshore Bidding Model
Enhances Performance”
Offshore Magazine,
Jan. 2011, Vol. 71, Issue 1
Download PDF of article

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SmartBid Brochure
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