DRILLING OPTIMAZATION WITH PAYZONE DRILLING SIMULATOR AND ECONOMIC ANALYSIS OF COST REDUCTION
Research output: Contribution to conference › Poster › Research › peer-review
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2016. Poster session presented at 7TH INTERNATIONAL GEOSCIENCES STUDENT CONFERENCE, Katowice, Poland.
Research output: Contribution to conference › Poster › Research › peer-review
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TY - CONF
T1 - DRILLING OPTIMAZATION WITH PAYZONE DRILLING SIMULATOR AND ECONOMIC ANALYSIS OF COST REDUCTION
AU - Alexis Koulidis
AU - Yaseen El-Aayi
A2 - Bailey, Philip
PY - 2016/7/11
Y1 - 2016/7/11
N2 - Many factors influence the drilling of a given well, and by simulating the drilling process, offset wells can be drilling considerably quicker and more economically effective. The application has positive implications for both service companies and operators in times of oil price volatility.IntroductionDuring states of economic downturn in the Oil and Gas Industry, resulting from lower than desirable oil prices, cost reductions associated with the drilling procedure becomes increasingly important for theeconomic outlook of petroleum projects worldwide.There are a multitude of factors present in the drilling process which ultimately effect the economic viability of oil and gas developmental projects, directly impacting the operational perspective. This paper will focus on the primary factors in the drilling process which can be manipulated from a technical standpoint and examined for analysis. By varying these parameters, an optimal drilling plan will bedeveloped and an economic study will be conducted with a resulting cost optimization analysis and discussion.
AB - Many factors influence the drilling of a given well, and by simulating the drilling process, offset wells can be drilling considerably quicker and more economically effective. The application has positive implications for both service companies and operators in times of oil price volatility.IntroductionDuring states of economic downturn in the Oil and Gas Industry, resulting from lower than desirable oil prices, cost reductions associated with the drilling procedure becomes increasingly important for theeconomic outlook of petroleum projects worldwide.There are a multitude of factors present in the drilling process which ultimately effect the economic viability of oil and gas developmental projects, directly impacting the operational perspective. This paper will focus on the primary factors in the drilling process which can be manipulated from a technical standpoint and examined for analysis. By varying these parameters, an optimal drilling plan will bedeveloped and an economic study will be conducted with a resulting cost optimization analysis and discussion.
KW - drilling
KW - optimization
KW - low cost
KW - simulation
UR - http://www.skngf.us.edu.pl/igsc/about.html
M3 - Poster
T2 - 7TH INTERNATIONAL GEOSCIENCES STUDENT CONFERENCE
Y2 - 11 July 2016 through 14 July 2016
ER -