The Demand and Supply is one of fundamental concepts of economics that will help us understand about oil price in a free market environment.
In order to give you a simple concept of demand and supply, please look at the fresh market image below (Figure 1).
Figure 1 – Fresh Market Continue reading
This is the second up date of drilling formula spread sheet, Drilling Formula Excel Sheet Version 1.2.
Drillingformulas.com distributed the first version of drilling formula spread sheet on 28 March 2011 and another update on 18 May 2011. The calculation sheet has been downloaded over 8,300 times around the world since the fist distribution.
Today, the lasted up date of drilling formula spread sheet, Drilling Formula Excel Sheet Version 1.2 is available for you to download. It is still totally FREE !!!.
What new drilling formulas are added into this version?
Cutting Slip Velocity Method#1
Cutting Slip Velocity Method#2
Surge and Swab Pressure Method#1
Surge and Swab Pressure Method#2
Hydrostatic Pressure Loss Due to Gas Cut Mud
Maximum pit gain from gas kick in water based mud
Maximum Surface Pressure from Gas Influx in Water Based Mud
How many total useful drilling formulas in this version?
There are a total of 75 formulas which are divided into 7 categories (Applied Drilling Formulas, Basic Drilling Formulas, Directional Drilling Calculation, Drilling Fluid Formulas, Engineering Formulas, Hydraulic Formulas and Well Control Formulas).
How much will it cost?
Nothing. The spread sheet is totally FREE for everybody.
This is drilling formula calculation sheet v1 distributed on 28-Mar-10. I add many essential drilling formulas in to one Excel spread sheet and I would like to share with you for FREE. Please check this following link for download.
When you one the file Drilling-formulas-Calculation-shee-V1.xls, you will see the fist page call index page which shows you all of formulas like this.
I created summary page for drilling formulas and calculations (https://www.drillingformulas.com/drilling-formulas-and-calculation-sheets/). I wish these excel sheets would be helpful for you.
Amount of cuttings produced per foot of hole drilled
Annular Pressure Loss
Annular-Capacity
Annular-velocity
Bulk Density Calculation
Buoyancy Factor Oilfield
Convert Pressure to Equivalent Mud Weight
Convert-Specific-Gravity
Cost Per Foot Calculation
Critical RPM
D Exponent Calculation
D Exponent Corrected Calculation
Decrease Oil Water Ratio
Density of Oil Water Mixture
Depth of Washout
Continue reading
Drilling cost per foot is the total drilling cost per footage drilled. This value is used for evaluating drilling projects, bit performance, drilling performance, etc.
Drilling Cost Per Foot – (OilfieldPix.com,2017)
The formula for drilling cost per foot as shown below;
Where:
CT = drilling cost per foot
B = bit cost
t = drilling time
CR = Rig cost per hour. This number must include all fixed daily cost not just only drilling contractor rate.
T = round trip
F = footage drill
Example: Determine the drilling cost per foot (CT) using the following data:
Bit cost (B) = 27,000 $
Drilling time (t) = 50 hours
Rig cost (CR) = $3500/hour
Round trip time (T) = 12 hours
Footage per bit (F) = 5000 ft
CT = (27,000 + 3,500 (50 + 12)) ÷ 5000
CT = 48.8$ per foot
Please find the excel sheet for calculating drilling cost per foot.
Ref books: Lapeyrouse, N.J., 2002. Formulas and calculations for drilling, production and workover, Boston: Gulf Professional publishing.
Bourgoyne, A.J.T., Chenevert , M.E. & Millheim, K.K., 1986. SPE Textbook Series, Volume 2: Applied Drilling Engineering, Society of Petroleum Engineers.
Mitchell, R.F., Miska, S. & Aadny, B.S., 2011. Fundamentals of drilling engineering, Richardson, TX: Society of Petroleum Engineers.
