The Drilling Cost provides to the drillers, toolpushers, drilling engineers, students and other professionals in the petroleum industry a productivity tool helpful in drilling operation to calculate the drilling cost per length unit drilled, analysis of drill bit performance and to use in planning phase of oil wells.
Drilling Cost = (Bit Cost + Rig Cost x (Drilling Time + Trip Time)) ÷ (Length Drilled)
Drilling Cost => drilling cost $ per length unit ($/ft, $/m)
Bit Cost => bit cost, $
Rig Cost => rig cost per hour, $ / hour
Drilling Time => total drilling time, hour
Trip Time => trip time, hour
Length Drilled => total length drilled by drill bit, ft or m
The Advanced Feature:
This application provides an advanced feature that is the modeling of data Drilling Cost vs. Drilling Time and also vs. Length Drilled using quadratic regression. The minimum point of the parable may correspond to the operation time of the drill bit, where will occur the minimum cost. The more the R squared is close to 1, the result will be better.
1) Drilling Cost = c + b (LD) + a (LD)^2, LD = total Length Drilled by the dril bit
2) Drilling Cost = c + b (DT) + a (DT)^2, DT = total Drilling Time by the drill bit
The user can work with data files that must correspond to the drill bits used in each phase of drilling.