Michael Jellison
Michael Jellison
Michael Jellison
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Light Weight – Ultra-High Strength Drill Pipe for Extended Reach and Critical Deep Drilling<br />
<strong>Jellison</strong>, Foster, Elliott, Sanclemente, Muradov, Hehn<br />
Estimated Cost Savings<br />
Rig Type<br />
Day Rate (1)<br />
(USD)<br />
Spread Rate (2)<br />
(USD)<br />
Cost per sec.<br />
of time saved<br />
(USD)<br />
Min. Est. Time<br />
Savings per<br />
Well (3)<br />
(hr)<br />
Min. Est. Cost<br />
Savings per<br />
Well (3)<br />
(USD)<br />
Semisub 7,500' WD $ 214,439 $ 428,878 $ 4.96 7.22 $ 128,996<br />
Drillship 3,000' WD $ 191,244 $ 382,489 $ 4.43 5.50 $ 87,676<br />
Jackup 350' WD $ 123,798 $ 247,597 $ 2.87 4.49 $ 46,323<br />
Jackup 200' WD $ 82,743 $ 165,487 $ 1.92 4.43 $ 30,566<br />
Inland barge $ 43,863 $ 87,726 $ 1.02 4.36 $ 15,924<br />
Notes:<br />
(1) Average rig day rates from www.rigzone.com as of 31 July 2006.<br />
(2) Spread rate assumes 2X rig day rate.<br />
(3) Time and cost savings assumes mininum number of trips (one bit run per casing/liner size) for 20,000 ft typical well from the mud line with four casing strings and one liner.<br />
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