Page 188 - Basic Well Log Analysis for Geologist

LOG INTERPRETATION CASE STUDIES

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3. Reserves X Product Price = Gross Revenue: future increases in gas prices. This pipe setting decision
2.300.000 MCF x $1.90 = $4,370.000. may be questioned by readers who find that the return rate,
4. Gross Revenue x Net Revenue Working Interest = even with projected price increases, doesn’t mect their
Net Revenue « Working Interest): $4,370,000 x 0.20625 = economic criteria.
$901,312.50. The Wilcox sandstone was perforated from 10,962 to
5. Net Revenue (Working Interest) + Working Interest 10.963 ft. The interval flowed [1 hours on a 10/64 inch
Well Costs = Return on Investment (before taxes and choke at a rate of 1.584 mefgpd, 5 barrels of condensate per
operating expenses): $901,312.50 + $450,000 = 2:1. day (BCPD) and 1,090 barrels of water per day (BWPD)
The relatively poor (2 to 1) return on your company $ The interval (10,962 to 10,963 ft) was squeezed (i.e. closed
investment ts weighed with your judgement about the off) and an interval from 10.925 to 10,933 ft was then
reservoir’s high water saturations. You think the reservoir perforated. The results from this interval were as follows:
company’s management, to set pipe. because of a hope of and 7.8 BC/mmef: SITP = 7,130 PSI: IBHP = 8,480 PSI:
Calculated absolute open flow (CAOF) was 7.000 mefgpd
will be able to produce gas at only fairly low levels so water
production from the lower zone can be kept under control.
However, a decision is made in conjunction with your
BHT = 283°F; gas gravity = 0.657; liquid gravity = 40.7°.
The well produced 350 mmef during the first ten months.