The NetCo$ter Offshore Drilling Module is designed to allow the User to estimate the cost of drilling an offshore well for any level of production rate. The User inputs the field data – the more specific the data is the more accurate the estimate will be – and follows a series of steps to define the drilling configuration. Wells types covered include:
· Exploration
· Appraisal
· Development
Clearly the key issue with any cost estimating system is how accurate is it. We have implemented many verifications on the accuracy of our software as have our Clients. The table below presents results we have seen for 12 offshore wells.
|
Item |
Country |
Well Type |
Water Depth (m) |
Drill String Length (m) |
Actual Cost (MillionUSD) |
NetCo$ter Cost (MillionUSD) |
Variance |
|
1 |
Gambia |
Exploration |
993 |
2,973 |
Not Disclosed |
Not Disclosed |
3.9 |
|
2 |
Guyana |
Appraisal |
1,765 |
3,669 |
Not Disclosed |
Not Disclosed |
(3.7) |
|
3 |
Guyana |
Appraisal |
1,944 |
3,669 |
Not Disclosed |
Not Disclosed |
0.03 |
|
4 |
Guyana |
Production |
1,723 |
6,350 |
Not Disclosed |
Not Disclosed |
1.88 |
|
5 |
Guyana |
Production |
1,723 |
5,657 |
Not Disclosed |
Not Disclosed |
1.00 |
|
6 |
Guyana |
Gas Injection |
1,723 |
6,841 |
Not Disclosed |
Not Disclosed |
(3.22) |
|
7 |
Brazil |
Appraisal |
2,020 |
5,657 |
Not Disclosed |
Not Disclosed |
(2.54) |
|
8 |
Angola |
Appraisal |
1,900 |
4,397 |
Not Disclosed |
Not Disclosed |
3.10 |
|
9 |
Angola |
Appraisal |
1,900 |
4,397 |
Not Disclosed |
Not Disclosed |
2.40 |
|
10 |
Mozambique |
Gas Production |
2,100 |
2,980 |
Not Disclosed |
Not Disclosed |
(6.00) |
|
11 |
India |
Appraisal |
1,200 |
5,078 |
Not Disclosed |
Not Disclosed |
(3.80) |
|
12 |
India |
Gas Production |
800 |
5,478 |
Not Disclosed |
Not Disclosed |
(2.77) |
|
Average Absolute Variance |
2.86 |
||||||
The Offshore Drilling Module’s engineering algorithms are based on drilling engineering principles and experience from the drilling of actual wells in several of the world’s oil and gas provinces. The module is very flexible:
· Users can considered intricately tailored logging and testing programs for exploration drilling
· Users have an extensive choice of preloaded logging tools but can supplement that by loading specialised logging suites in to the system for consideration.
· The program provides a number of cost data bases for the world’s key oil and gas provinces but Users can customise these to generate their own databases (up to three) based on their own experience.
· Users can choose between using Platform Based Rigs and Mobile Drilling Units:
o Barges
o Jack-ups
o Semi-submersibles
o Ship-shaped Drilling Vessels
Within these broad categories the User can choose specific units most suited to the location and water depth where the well is to be drilled.
· Users can assess vertical, deviated and horizontal wells and the system will generate a drilling profile fully reflective of these considerations.
. Users are also provided with a breakdown on costs associted with cementation, mud and directional drilling that can be modified as part of the overall drilling rate for a given well.
· Users can input the number of wells to be drilled in a given campaign and the Offshore Drilling Module will compute how one off costs – such as mobilisation – will be spread across the wells.
Part of the service offered with the offshore drilling module is access to NetCo$ter 's histroical drilling rig day rates database. This is incorporated into the program and gives user perspective on the key component in establishing an accurate drilling cost estimate. As any practitioner understands are subject to wide variations. Market demand for oil and gas services has affected all aspects of the costs associated with their delivery. Costs have been the subject of significant fluctuation across the board but none more so then drilling rig day rates.
In recognition of this Bayphase has monitored rig day rates for jack-ups, semi-submersible and ship-shape vessels since 2007 in a number of the world’s oil and gas provinces. We continue to do this and all subscribers to NetCo$ter 's Offshore Drilling Module are provided with access to this material.
The Offshore Drilling Module also allows users to make drilling unit selections based on the drilling site’s water depth. Once this is inputted the module offers up a variety of viable drilling units from which the User is able to select his preference for developing a cost estimate.
NetCo$ter outputs can be exported as a series of spread sheets and as such can be used with other cost estimation software either to verify results or imported as raw cost data.
For more detail on the program see the videos at the base of this web page. Complete our contact us form if your like to receive an online demonstration of the product.
A perpetual, single PC user license is priced at 7,500GBP (Seven Thousand Five Hundred Pounds Sterling) which includes support and updates for the 1st year following purchase.
For details on pricing for other configurations or to arrange a demonstration of the software click the enquiry form link at the base of this web page
The product is delivered electronically along with its license file.
For more details and a walk through of the program click the link to the PDF copy of our NetCo$ter Offshore Drilling Module marketing booklet at the base of this web page.
