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6.3.1 General trends in oil and gas wellcompletion costs Chapter 6 Drilling Technology and Costs 2004) were used to create a drilling index, and this index was used to normalize geothermal well costs to year 2004 U.S. $. Oil and gas well costs were analyzed based on data from the 2004 JAS for completed onshore U.S. oil and gas wells. A new, more accurate drilling cost index, called the MIT Depth Dependent (MITDD) drilling index, which takes into consideration both the depth of a completed well and the year it was drilled, was developed using the JAS database (19762004) (Augustine et al., 2006). The MITDD index was used to normalize predicted and actual completed well costs for both HDR or EGS and hydrothermal systems from various sources to year 2004 U.S. $, and then compare and contrast these costs with oil and gas well costs. 69 Tabulated data of average costs for drilling oil and gas wells in the United States from the Joint Association Survey (JAS) on Drilling Costs (19762004) illustrate how drilling costs increase nonlinearly with depth. Completed well data in the JAS report are broken down by well type, well location, and the depth interval to which the well was drilled. The wells considered in this study were limited to onshore oil and gas wells drilled in the United States. The JAS does not publish individual well costs due to the proprietary nature of the data. The wellcost data are presented in aggregate, and average values from these data are used to show trends. Ideally, a correlation to determine how well costs vary with depth would use individual wellcost data. Because this is not possible, average values from each depth interval were used. However, each depth interval was comprised of data from between hundreds and thousands of completed wells. Assuming the well costs are normally distributed, the resulting averages should reflect an accurate value of the typical well depth and cost for wells from a given interval to be used in the correlation. In plotting the JAS data, the average cost per well of oil and gas wells for a given year was calculated by dividing the total cost of all onshore oil and gas wells in the United States by the total number of oil and gas wells drilled for each depth interval listed in the JAS report. These average costs are tabulated in Table A.6.1 (in the Appendices) and shown in Figure 6.1 as the “JAS Oil and Gas Average” points and trend line. Wells in the 01,249 ft (0380 m) and 20,000+ ft (6100+ m) depth intervals were not included, because wells under 1,250 ft (380 m) are too shallow to be of importance in this study, and not enough wells over 20,000 ft (6,100 m) are drilled in a year to give an accurate average cost per well. polynomial, such as: A cursory analysis quickly shows that well costs are not a linear function of depth. A high order where is the completed well cost, is the depth of the well, and ci are fitted parameters, can be used to express well costs as a function of depth. However, it is not obvious what order polynomial would best fit the data, and any decent fit will require at least four parameters, if not more. By noting that an exponential function can be expanded as an infinite series of polynomial terms: (61) (62)PDF Image | Drilling Technology and Costs
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