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Cost and time estimates
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Images
Published: 11 November 2019
Figure 11 Wellbore cleanout improvements with cost and time estimates. More
Journal Articles
Journal:
Journal of Petroleum Technology
Publisher: Society of Petroleum Engineers (SPE)
J Pet Technol 67 (01): 117–119.
Paper Number: SPE-0115-0117-JPT
Published: 01 January 2015
...Chris Carpenter This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper SPE 169203, ’An Investigation of Different Approaches for Probabilistic Cost and Time Estimation of Rigless Plug and Abandonment in a Subsea Multiwell Campaign,’ by Fatemeh Moeinikia...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Bergen One Day Seminar, April 2, 2014
Paper Number: SPE-169203-MS
... with application of this rigless technology are discussed and highlighted. The paper will discuss different approaches for structuring probabilistic time and cost estimation of multi-well P&A campaigns discussing at which level these should be performed and what is the most appropriate approach with respect...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the EUROPEC/EAGE Conference and Exhibition, June 8–11, 2009
Paper Number: SPE-121837-MS
... Abstract When planning oil and gas wells, the cost and duration uncertainty, related to the well construction process, could be a big concern. Traditionally, Drilling Engineers, in different geographical areas, have utilized different estimation methods with a consequent difficulty...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Russian Petroleum Technology Conference and Exhibition, October 24–26, 2016
Paper Number: SPE-181904-MS
... Abstract We conducted a practical case study that aims at estimating the shapes and parameters of probability distributions for key cost, time and activity performance inputs required by a risk, resource, and value simulator to conduct a stochastic valuation of a new exploration asset. We...
Journal Articles
Journal:
SPE Economics & Management
Publisher: Society of Petroleum Engineers (SPE)
SPE Econ & Mgmt 9 (03): 61–72.
Paper Number: SPE-181904-PA
Published: 09 May 2017
...Dmitry Surovtsev; Anton Sungurov Summary We conducted a practical case study that aims at estimating the shapes and parameters of probability distributions for key cost, time, and activity performance inputs required by a risk, resource, and value simulator to conduct a stochastic valuation...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Nigeria Annual International Conference and Exhibition, August 2–4, 2016
Paper Number: SPE-184261-MS
... of safety and environment requirements have made it difficult achieving the financial and timing targets set. The shortfalls in well cost estimation and control are due to reliance on outdated or poor methodologies. Generally, drilling AFE's (Authorization for Expenditure) are generated by applying...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Annual Technical Conference and Exhibition, September 19–22, 2010
Paper Number: SPE-135105-MS
... Abstract This paper describes the probabilistic model used for estimating time and cost of drilling and well operations (D&W) in Statoil. The model uses statistical methodology to assist sound engineering judgment. The drilling process is broken down to a level where it is possible...
Images
Published: 25 August 2008
Figure 7 Presented are minimum estimates of tripping time and cost savings provided by the 3rd Gen DSC in comparison to the 2nd Gen DSC for various rig types/water depth scenarios. More
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Latin American and Caribbean Petroleum Engineering Conference, November 18–20, 2015
Paper Number: SPE-177153-MS
... Abstract Budged estimation for a given drilling project is part of the dutties assigned to drilling engineers. The simplest way to make those estimations is using average costs based on previous wells, which works well to a certain degree. Average time and costs sometimes include troubles...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE/IADC Drilling Conference, February 23–25, 2005
Paper Number: SPE-92340-MS
... Using a probabilistic approach to estimating the time and costs associated with well construction is not new 1 . However, it has only been within the last four to five years that drilling engineers have begun to fully embrace the approach and there are now indications to suggest the use...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the IADC/SPE Drilling Conference, February 21–23, 2006
Paper Number: SPE-98695-MS
... Abstract There has been limited published work involving the applications of probabilistic methods in drilling engineering, particularly when estimating drilling times and costs. This fact is even more acute when considering the evaluation of new drilling technologies. Traditionally, drilling...
Images
Published: 07 October 2018
Figure 3 Cost and time duration breakdown of the completion phases. Estimate is based on a 5 well Marcellus Shale pad with 9,000 ft average lateral lengths. The drillout phase is about 7% of the total completions budget and 20% of the total time duration for the completion phase. More
Images
Published: 25 April 2022
Figure 5 Estimated well time and cost, and oil price forecast. More
Images
Published: 27 February 2001
Figure 10 Estimated cost and time required to drill the well. More
Images
Published: 22 October 2007
Fig. 5 Well Time/Cost estimate using BCT More
Proceedings Papers
Paper presented at the International Petroleum Technology Conference, February 21–23, 2022
Paper Number: IPTC-22147-MS
... and reservoir, fluid type, location, drilling operation type, and well completion type. The algorithm is tested using a synthetic well requirements dataset, including drilling cost and time estimations over the planning cycle. A detailed drilling schedule was produced from which yearly budget, rig year...
Proceedings Papers
Paper presented at the ISRM International Symposium - EUROCK 2012, May 28–30, 2012
Paper Number: ISRM-EUROCK-2012-152
... Abstract: A Dynamic Bayesian Network (DBN) model for probabilistic estimation of tunnel construction time (and costs) is presented. It considers two main types of uncertainties: those associated with ordinary variability in the construction perform-ance and those associated with severe delays...
Proceedings Papers
Publisher: Society of Petroleum Engineers (SPE)
Paper presented at the SPE Bergen One Day Seminar, April 22, 2015
Paper Number: SPE-173850-MS
... forecasting, complexity of the probabilistic approach compared to the deterministic method might still be a hindrance for using this approach. In this paper, a simple excel-based program is developed for probabilistic cost and time estimation of subsea multi-well abandonment. This model is aimed to provide...
Proceedings Papers
Paper presented at the ISRM International Symposium - 6th Asian Rock Mechanics Symposium, October 23–27, 2010
Paper Number: ISRM-ARMS6-2010-101
... the construction time. INTRODUCTION The estimate of ground conditions and the required support measures for tunnels (especially for long ones) is crucial for the design and tendering process, in particular for the construction schedule and the costing. The Austrian guideline [1] together with [2] provides...
