The Drilling Cost Advanced provides to the drillers, toolpushers, drilling engineers, students and other professionals in the petroleum industry a productivity tool helpful in drilling operations to calculate the drilling cost per length unit drilled, analysis of drill bit performance and to use in the planning phase of oil wells.
Formula:
Drilling Cost = (BC$ + RC$ (DT + TT)) ÷ LD
BC$ = Bit Cost,$
RC$ = Rig Cost per hour, $ / h
DT = Drilling Time, h
TT = Tripping Time, h
LD = Length Drilled (foot or meter)
Quadratic Regression:
This application provides an advanced feature that is the modeling of data Drill Cost vs. Length Drilled (or Drilling Time) using quadratic regression. The minimum point of the parable may correspond to the 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.
Drilling Cost = c + b (LD) + a (LD)ˆ2
The result is shown on graph analysis (see screenshots)
iPad Version:
iPhone Version:
Visit our Portfolio on the App Store
for more Oil & Gas apps for iPhone, iPod Touch, iPad and Mac OS X.
Visit our website for more Oil & Gas apps for iPhone, iPod Touch, iPad and Mac OS X.
