Gaining cost efficiencies while increasing drilling operations
Independent oil and gas operator reduces costs and safety incidents while increasing visibility through the use of advanced analytics.
The business challenge
With increasing drilling operations in the Permian Basin, a large independent oil and gas operator needed to reduce costs as they continued to develop and extract hydrocarbons from their top-tier acreage. To reduce overall drill time and decrease operations costs, a continuous review of drilling efficiency must occur. One of the many components of drilling cost optimization is reducing the number of bottom hole assemblies (BHAs) necessary to drill the production lateral of the wellbore of horizontal wells. Finding the optimal time to replace the current BHA was crucial. There is tremendous variation in the rate of penetration (ROP) during the drilling operation. It is dependent upon many factors, such as the combination of drill bit and motors, and the formation type, which should be considered to better model the ROP and build a real time predictive solution.
