Page 160 - Practical Well Planning and Drilling Manual

Section 2 revised 11/00/bc 1/17/01 12:04 PM Page 136

[ ] Well Programming
2.1.5

Fig. 2-2 Summary Sheet Example
AFE Well Cost Estimate
By: Steve Devereux

BUDGET TITLE Example Exploration Well

Notes 1. Assumes well logged, tested,
and abandoned.
DATE 12-Apr-97 2. Mob/demob costs are
assumed split between
4 wells.
3. Site survey costs assume
mob/demob split between
2 wells.
4. This well is designed with a
conventional casing scheme.

VALUE of this estimate $ 7,596,377
Dry hole cost of well $ 5,916,929 ($1,679,447 less than total)
Contingency included $ 851,099 (Equivalent to 11% of the
total estimate)
Accuracy of estimate 15% Budget cost should be $8,735,833

1) SUMMARY
This well cost estimate covers the drilling, logging, testing, and abandonment of
the first maximum concession commitment well.

2) ESTIMATES

Well time estimate:
Rig move, jack-up, preload at 50 m 2.0 days
Drive 30 in conductor at 135 m 2.0 days
NU diverter 1.0 days
Drill 26 in hole at 1000 m 2.0 days
20 in surface casing 1.0 days
17.5 in hole at 1700 m 2.0 days
13 3/8 in casing 1.5 days

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