Offshore Drilling Module - Version 2.1.5 - December 2021

The  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 accuracty 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 key point about this table is the accuracy acheived by the  Offshore Drilling Cost Estimating Module. Average Variance is ±2.86% and no estimate is more that 6% out.
 
The Actual Costs are either actual installed costs or high quality estimates made for Field Development Plan approval.
 
These are excellent results for a cost estimating and whilst we have not disclosed some data due to its commercial sensitivity we'll be very happy to open up a conversation with comapanies showing serious interest in our software and to give online demonstrations. Use our Contact Us form to request such an interaction.
 
This is compatible with our   Onshore Production Module and   Onshore Drilling Module

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  '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  '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. 

 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   Offshore Drilling Module marketing booklet at the base of this web page.


Introduction to the Offshore Drilling Cost Estimating Module

The Drilling Logistics and the Drill String Design Input Screens

The Casing Design Input Screen

The Logging Well Testing and Completion Input Screens

The Cost Summary Dialog and Subsidiary Information Screens
To enquire about this cost estimating module click here.


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