Executive Summary The aim of this study is to generate filed development plan for Black Dog filed after review available options. Sixteen different scenarios have been reviewed and the most economic one has been identified with respect to type and number of wells to be drilled, size and type of production facilities and transport and export options. The most economic option drilling 28 horizontal wells and utilizes the floating production platform (FPP) while transporting oil by shuttle tanker and gas via pipeline. Based on selected case main process components and equipment used for fiscalisation has been explained concisely. Introduction Black Dog filed located in 50 km north-east of developed filed of Forties. The estimated oil in this reserve (STOIIP) is 750 MMbbls which 60% of that is recoverable. Gas oil ratio is 800 scf/bbl and the oil quality is very similar to the …show more content…
producing oil from forties filed which has pipeline to transfer hydrocarbon to nearest shore. Discussion Development Plan Reservoir evaluation in the exploration phase showed that stock-tank oil initially in place (STOIIP) is 750 MMbbl with 60 % recoverable means that 450 MMbbl of oil in place could be recovered. Fraction of reserve production in plateau period for vertical and horizontal wells is 3% and 4% of STOIIP per annum respectively. Number of wells purely based on this information is identified as follow: Vertical wells =(750 MMbbl*0.03)/(3.5*365)≅18 Horizontal wells =(750 MMbbl*0.04)/(5*365)≅17 It noticed that drilling more wells can result in better economic output such as NPV and IRP; therefore decided to review of all options based on the optimum number of wells. With trial and error and input multiple numbers in excel sheet optimum number of wells defined as 28 for horizontal wells and 35 for vertical wells. Economic output of sixteens scenarios based on different well types, production facilities and transportation options have been investigated. These scenarios are as follow: Two type of producing wells: Horizontal Vertical Four type of production facilities: Fixed Steel Production Platform (FSPP) Gravity Concrete Based Platform (GCBP) Floating Production Platform (FPP) Floating Production Storage and Offloading Vessels (FPSO) Two type of transportation: Pipelines for both produced oil and gas Shuttle tankers for transporting oil and pipeline for gas Economic output of excel sheet calculation for each individual cases are covered in Appendix I.
In addition to Appendix I table 1 summarise the result of evaluated cases and figure 1 shows the result of individual one with highest economic outcome. Net Present Value (NPV), Internal Rate of Return (IRR) and payback time for each cases have been calculated and the case with highest value for NPV and IRR and earliest payback time chosen as the most attractive option to be presented to senior managers. The best economic one was drilling 28 horizontal wells and utilising FPP while transporting oil with shuttle tanker and delivering produced gas via pipeline to available pipeline on Forties filed. This case resulted in NPV of 1,134 US$MM, IPR of 17.94% with payback time of 7 years. Process Components In this section the main elements processing facility as simply described in Figure 2 will be
discussed. In early stage of production there will not be water production problem; but as the filed get more depleted water may start to produce. As part of process facilities there should be sections to treat anticipated water production without affecting oil and gas export. As produced water only consist of formation water and will not have large amount of contamination further water treatment facilities are not required but provision should be considered to dehydrate gas before transferring it to export pipeline. Sand production is not a challenge so flow from the wellbore after passing through choke(s) and gathering in a manifold will be processed in separator. In separator three phases of fluid will be separated. Processed gas need to be dehydrated before enters the pipeline to export, as there is no H2S or other corrosive element gas sweetening process is not required. Water and solid content of produced fluid that separated from hydrocarbon may require some treatment before it could be dumped or injected back to aquifer. Oil should be processed in a way that maintain reid vapour pressure (RVP) and the basic solid and water (BS&W) in an acceptable range to be loaded by shuttle tanker and transported. Separator It planned to transport separated gas via pipeline and oil by shuttle tanker. For the oil to be transported by shuttle tanker RVP should be in the range of 10 to 12 psia, to achieve that we may require three stage separator system. Separator pressure at first stage might be as high as 600 psia due to high gas oil ratio (GOR=800 scf/bbl) and in the final stage should be 10 psia to be able to transfer oil by shuttle tanker. Mid stage separator pressure are calculated as follow: R= (P1/Ps) 1/n= (600/10)1/2= 7.74 Where R is pressure ratio between each stage P1 is pressure of separator at first stage
would have the capacity to transport 525,000 barrels of oil per day. The project would
Star Appliance is looking to expand their product line and is considering three different projects: dishwashers, garbage disposals, and trash compactors. We want to determine which project would be worth doing by determining if they will add value to Star. Thus, the project(s) that will add the most value to Star Appliance will be worth pursuing. The current hurdle rate of 10% should be re-evaluated by finding the weighted average cost of capital (WACC). Then by forecasting the cash flows of each project and discounting them by the WACC to find the net present value, or by solving for the internal rate of return, we should be able to see which projects Star should undertake.
Some medical professionals do not believe that mental health patients can benefit from therapy dogs and go as far as saying it is a risk far as to say that it is a to the patient and compromise the patients ability to take care of the dog. When people who suffer with mental health issues qualify to get a therapy dog. The mental health patient is tested to see if they are capable of taking care of the dog. Those in need of assistance should use therapy dogs frequently do to the part of the benefits to using these pets to improve mental and emotional health as and physical health. Therapy dogs are beneficial to people who suffer from mental health issues by providing companionship as well as support. Some people with mental health issues have a hard time trusting others and need someone to talk to; Service dogs are important because to make they people with mental health problems feel better and help people with these disorders deal with their emotions.
...eting tool that show the differences between the present value of revenues and the present value of expenses. The project can be profitable when the net present value is positive. In other words, the present value of revenues is greater than the present value of expenses. Profitability index is another tool for evaluating investment projects, which is the ratio of the PV of benefits on the PV of costs. A project can be beneficial if the profitability index is greater than 1. Also, it has the same idea as NPV that In other words, the present value of benefits is greater than the present value of costs. However, these two methods (NPV and Profitability Index) have been used to evaluate the proposal of implementing EHR.
Oklahoma's oil and natural gas industry is giving us unstoppable progress for energy solutions, but the other parts of the nation are still searching for theirs. While providing jobs for the thousands of people who live in Oklahoma, the oil and natural gas industry not only donates to America's petroleum production, but it also produces millions of dollars for our state’s economy, schools, and roads. Making new headways in our industry every day, artificial technology, scientific breakthroughs, adequate new exploration, and drilling methods took place. Without these upgrades, we would not be able to extract oil and natural gas from challenging fields more efficiently than we can now. As capability rises, environmental impact will continue to go down. In 1897, a tower of surging oil divided the Bartlesville sky. Oklahoma's preliminary drilling swaged badly, brought forth by the federal controls on wellhead prices of natural gas applied to interstate commerce in the 1950s. By 1982, oil prices hit an all time high of $37.60 per barrel. Furthermore, the number of progressive drilling rigs in Oklahoma also hit a record of 882. The total quantity produced from the soul and natural gas industry in Oklahoma reached about 40 billion dollars in 2007. Also, through the gross production tax, oil and natural gas producers and royalty owners gave more than 2 billion dollars to Oklahoma used for teacher retirement, public schools, wildlife management, bridges, roads, and state colleges. Petroleum remains an indispensable Sooner State industry. Natural gas continued to grow in the early 1990s despite of the entire staggering bust that was caused by the plummeting world crude oil p...
This project belongs in the engineering-efficiency category; therefore, it has to fit at least 3 of 4 performance hurdles, which are 1. Impact on EPS; 2.Payback; 3.Discounted cash flow and 4. Internal rate of return.
...l feedstock. If ANWR drilling is allowed, our domestic crude oil production can reach a feasible rate of 10 million barrels per day by 2020. Additionally, with innovations in technology and better consumption habits are implemented, factors like: fuel efficient vehicles can be produced, electric battery created, and natural gas in freight transportation can be extended.
Table 2 gives further analysis that is instrumental in assessing the efficiency of CV as compared to its competitors.
Police officers work with special units that make use of their dogs’ skills. Thornton says, “They work fire scenes; public transportation venues, such as subway stations, train stations, or airports; and large public events that may be the subject of bomb threats. They may also check vehicles or buildings for drugs or other contraband,” (Chapter 28). The Central Intelligence Agency; the U.S Postal Service; the Secret Service; the Drug Enforcement Administration and many more use dogs in their teams. Some of the most known areas the dogs are in are tracking, substance detection, police enforcement and cadaver. Other type of areas for dogs are arson or they are also known as accelerant-detection K9’s.These dogs are trained to sniff out traces of accelerants or other substances used to set fires. Their job is to investigate fire scenes and to determine a fire’s cause. More than 200 arson dog teams are at work in the United States and even in Canada. The handlers have to trust their dogs like any team does with a human partner. Once the dog alerts that something is there, the handler has to investigate further. The trainers need to establish a bond with the dog that will also become their family. At school’s for handlers and dogs to learn arson detections, they have simulated fire scenes, they learn how to locate and identify tiny drops of accelerants and the fuels used to start fires. Those schools also have challenges the handlers and their dogs face like wet grass, wet buildings, mud, ashes and burnt debris. Dogs aren’t the only ones who have to learn things. “Their handlers must also learn to identify hazards, such as dangerous debris or weakened areas that could endanger their dogs or themselves,” says ...
The use of dogs to assist in the treatment of physically and sexually abused children is an effective tool in the treatment and healing process. Animal assisted therapy, which includes the dog in the actual therapeutic process, allows a child to view the dog as a model and reassurance. The dog is a nonjudgmental entity, which augments the level of self-esteem the child is internalizing and stimulates their communication of feelings.
The industry is divided into three distinct sectors including the upstream, midstream and downstream sectors. The upstream sector includes the exploration and production of crude oil as well as the exploration and production of natural gas. This sector has experienced the largest amount of deals in terms of mergers and acquisitions, which will be further discuss in section III. The midstream sector involves the transportation of extracted petroleum from the upstream sector through pipelines, rail, barge, truck as well as storage. Finally, the downstream sector connects the end consumers through derived products such as gasoline, liquefied natural gas (LPG), liquefied natural gas (LNG), kerosene (aircrafts), and diesel…
The Company has a unique offering with regards to tactics and the low risk opportunity to enter Spain and other European countries by using pre-existing oil wells and uncovering new locations. There has been a huge success in using the same type of operations in other countries where oil is extracted. By developing focused strategies in three specific aspects of drilling, ATO will replicate the efficiencies used in other successful countries. This process will lead to the extraction of other natural resources such as natural gas. There will be twenty-five new wells and six existing wells to take advantage of extracting oil but once the expansion into other natural resources happens
MSCI, a budgetary investigation firm with extraordinary aptitude in surveying the estimation of intangibles like carbon hazard, examined the petroleum business'execution in five key classifications: operations, wellbeing and security; capacity to get to assets in developing markets; carbon discharges; interest in option vitality; and interest in unpredictable fossil powers like oil sands and oil shale, coal bed methane and coal crease gas, and both gas-to-fluid and coal-to-fluid energizes.
The oil and gas industry, today, striving to discover a harmony between climbing worldwide request and lessening assets, and keep up control and circulation of working expenses. In the oil and gas industry today, most organizations are looking to expand the productivity of their worldwide portfolios during a period of developing questionable matter. Keep up superior ¬ pleasant pussy against high expenses, high costs, and expanded rivalry were never all the more testing.
Explain why in practise other methods of evaluating investment projects have proved to be more popular with decision-makers than the net present value method. (Please compare at least three (3) methods)