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Mark J Kaiser - One of the best experts on this subject based on the ideXlab platform.
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An empirical evaluation of deepwater Economic Limits in the Gulf of Mexico
Journal of Natural Gas Science and Engineering, 2019Co-Authors: Mark J Kaiser, Siddhartha NarraAbstract:Abstract Economic Limits are a required parameter in reserves estimation, and when examined in a collective fashion on a regional basis, provide insight into the characteristics of end-of-life operations. By examining the net revenue of wells and structures at the end of their life we can infer the Economic Limit of production and obtain useful information on operating cost statistics and decommissioning Economics. The purpose of this paper is to evaluate the Economic Limits for wells and structures in the U.S. Gulf of Mexico in water depth greater than 400 feet (122 m). Net revenue statistics and distributions are summarized the last year of production for 23 decommissioned deepwater structures and 486 permanently abandoned deepwater wells from 1977 to 2017. The average inflation-adjusted net revenue the last year of production of all decommissioned structures was $13.4 million with a median value of $3.1 million. Deepwater dry tree wells exhibited an average Economic Limit of $3.8 million compared to $17.8 million for wet tree wells, and Economic Limits were $3.2 million for gas wells compared to $5 million for oil wells. Dry tree wells are able to handle higher water cuts than wet wells at the end of their life, 45% versus 18% for oil wells, and 50% versus 13% for gas wells.
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An empirical evaluation of Economic Limits in the shallow water Gulf of Mexico, 1990–2017
Journal of Petroleum Science and Engineering, 2018Co-Authors: Mark J Kaiser, Siddhartha NarraAbstract:Abstract Net revenue during the last year of an offshore structure's life serves as a proxy for the Economic Limit of production and encapsulate all the relevant cost information available. By reviewing a large group of structures, Economic Limits can be quantified and compared using structure attributes to obtain insight into operating cost thresholds and business practices. The purpose of this paper is to evaluate the gross revenue statistics the last year of production for oil and gas structures in the shallow water Gulf of Mexico. Summary statistics are tabulated by primary production, structure type, manned status and water depth for 3054 decommissioned structures in water depth less than 400 ft from 1990 to 2017. The P50 adjusted gross revenue the last year of production was $1.2 million for gas structures and $627,000 for oil structures. For gas structures, P20 and P80 Economic Limits are $282,000 and $3.97 million; for oil structures, $135,000 and $2.01 million. Factor models are constructed to distinguish the impact of individual variables and show that majors have an average $820,000 greater Economic Limit per structure than independents.
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Economic Limit of outer continental shelf gulf of mexico structure production
Applied Energy, 2011Co-Authors: Mark J KaiserAbstract:The Economic Limit of an oil and gas asset occurs when income from production is less than the direct cost of operation. Economic Limits determine the threshold for profitable operations and are often considered from a conceptual perspective rather than as an object for empirical assessment. The purpose of this paper is to derive empirical estimates of the Economic Limit of offshore structures in the Outer Continental Shelf Gulf of Mexico. We classify 1962 decommissioned structures between 1986-2009 by structure type, primary production, water depth and year of removal, and compute end-of-life production, adjusted gross revenue, and water cut thresholds according to various levels of categorization. During the last year of production, historic gross revenues averaged $539,000 for oil structures, $955,000 for gas structures, and $1.1 million for dry gas structures. Daily end-of-life production ranged from 50 BOEPD for oil structures to 647 MCFEPD for gas structures and 788 MCFEPD for dry gas structures. The Economic Limits for oil and gas structures increased to $1 million and $1.7 million over the period 2005-2009.
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Economic Limit of field production in texas
Applied Energy, 2010Co-Authors: Mark J Kaiser, Yunke YuAbstract:When the revenue generated from an oil and gas field is less than the cost of operations, the field is no longer considered an asset and production ceases. Capital investment may be made in an attempt to increase production or the field may be divested or abandoned. At some point in time all fields will terminate production at their Economic Limit. The purpose of this paper is to quantify the Economic Limit of field production in Texas. We classify 16,045 fields that terminated production between 1993 and 2008 by product type, location, and year of termination, and compute average production and adjusted gross revenue statistics near the end of the field's life cycle. We demonstrate that the revenue thresholds of offshore oil and gas fields is greater than the Economic Limits of fields located in bays-estuaries and on land and gas fields turn marginal sooner than oil fields. During the last year of production, average oil field revenue varied from $65,000 on land and bays-estuaries to $181,000 offshore; gas field revenue thresholds ranged from $384,000 (land) to $584,000 (bays-estuaries) to $637,000 (offshore).
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Economic Limit of field production in louisiana
Energy, 2010Co-Authors: Mark J KaiserAbstract:When the operating cost of a well is equal to its income from production, the well is no longer considered an asset and is said to have reached its Economic Limit. The purpose of this paper is to quantify the Economic Limit of hydrocarbon field production in Louisiana. We classify 690 fields that terminated production between 1977 and 2007 by product type, location, and year of termination and compute production and adjusted gross revenue near the end of their life cycle. During the last year of production, average oil field revenues varied from $35,000 in North Louisiana to $101,000 in South Louisiana to $227,000 in state waters; gas field revenue thresholds ranged from $57,000 (North Louisiana) to $402,000 (South Louisiana) to $936,000 (offshore). Economic Limit statistics are summarized and correlations with price and field size are reviewed. The Limitations of the analysis and constraints on interpretation are discussed.
Ukpabi Chikwendu - One of the best experts on this subject based on the ideXlab platform.
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effect of short term cyclic feed deprivation on growth and Economic Limit of commercial feed based in door grow out of clarias gariepinus burchell 1822
International Journal of Fisheries and Aquaculture, 2013Co-Authors: Ofor Chukwuma Okereke, Ukpabi ChikwenduAbstract:Growth, feed utilization, and Economic Limit of commercial pelleted feed use were compared between daily-fed and feed deprived groups of Clarias gariepinus (Burchell, 1822) raised under low density culture. Groups of C. gariepinus were fed daily (Treatment 1) or on alternate days (Treatment 2) for 5½ months, with 45% crude protein commercial pellets. Feeding was at a rate of 6% body weight per day which was considered satiation feeding. Cost and revenue were determined on the basis of feed cost and revenue from fish sales respectively. Treatment 1 yielded profits up to a mean weight of 64±8 g at feed conversion ratio 1.0±0.08 and 4.71% loss at mean weight of 105±10 g and feed conversion ratio (FCR) 2.1±0.7. Treatment 2 was profitable up to harvest mean weight of 264±10 g. Feed conversion ratio, mean weight, and total weight, were significantly higher in Treatment 1 (p<0.05). Cost-benefit ratio and percentage profit were significantly higher in Treatment 2 (p<0.0001). Thus the Economic Limits were 2 months at mean weight of 105±10 g; and 5 months at mean weight 264±10 g; in Treatments 1 and 2 respectively. The skip-a-day feeding strategy adopted in Treatment 2 was effective in extending the Economic Limit of conventional feeding using commercial pelleted feed in low density commercial catfish culture. The Limits established in this study could serve as an advisory to farmers on the appropriate time to switch from the expensive commercial pelleted feeds usually fed at the early stage of grow-out to farm-made feeds. Key words: Clarias gariepinus, Economic Limit, low density, feed deprivation, satiation feeding, growth, feed utilization.
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Effect of short-term cyclic feed deprivation on growth and Economic Limit of commercial feed-based in-door grow-out of Clarias gariepinus (Burchell, 1822)
International Journal of Fisheries and Aquaculture, 2013Co-Authors: Ofor Chukwuma Okereke, Ukpabi ChikwenduAbstract:Growth, feed utilization, and Economic Limit of commercial pelleted feed use were compared between daily-fed and feed deprived groups of Clarias gariepinus (Burchell, 1822) raised under low density culture. Groups of C. gariepinus were fed daily (Treatment 1) or on alternate days (Treatment 2) for 5½ months, with 45% crude protein commercial pellets. Feeding was at a rate of 6% body weight per day which was considered satiation feeding. Cost and revenue were determined on the basis of feed cost and revenue from fish sales respectively. Treatment 1 yielded profits up to a mean weight of 64±8 g at feed conversion ratio 1.0±0.08 and 4.71% loss at mean weight of 105±10 g and feed conversion ratio (FCR) 2.1±0.7. Treatment 2 was profitable up to harvest mean weight of 264±10 g. Feed conversion ratio, mean weight, and total weight, were significantly higher in Treatment 1 (p
Ofor Chukwuma Okereke - One of the best experts on this subject based on the ideXlab platform.
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effect of short term cyclic feed deprivation on growth and Economic Limit of commercial feed based in door grow out of clarias gariepinus burchell 1822
International Journal of Fisheries and Aquaculture, 2013Co-Authors: Ofor Chukwuma Okereke, Ukpabi ChikwenduAbstract:Growth, feed utilization, and Economic Limit of commercial pelleted feed use were compared between daily-fed and feed deprived groups of Clarias gariepinus (Burchell, 1822) raised under low density culture. Groups of C. gariepinus were fed daily (Treatment 1) or on alternate days (Treatment 2) for 5½ months, with 45% crude protein commercial pellets. Feeding was at a rate of 6% body weight per day which was considered satiation feeding. Cost and revenue were determined on the basis of feed cost and revenue from fish sales respectively. Treatment 1 yielded profits up to a mean weight of 64±8 g at feed conversion ratio 1.0±0.08 and 4.71% loss at mean weight of 105±10 g and feed conversion ratio (FCR) 2.1±0.7. Treatment 2 was profitable up to harvest mean weight of 264±10 g. Feed conversion ratio, mean weight, and total weight, were significantly higher in Treatment 1 (p<0.05). Cost-benefit ratio and percentage profit were significantly higher in Treatment 2 (p<0.0001). Thus the Economic Limits were 2 months at mean weight of 105±10 g; and 5 months at mean weight 264±10 g; in Treatments 1 and 2 respectively. The skip-a-day feeding strategy adopted in Treatment 2 was effective in extending the Economic Limit of conventional feeding using commercial pelleted feed in low density commercial catfish culture. The Limits established in this study could serve as an advisory to farmers on the appropriate time to switch from the expensive commercial pelleted feeds usually fed at the early stage of grow-out to farm-made feeds. Key words: Clarias gariepinus, Economic Limit, low density, feed deprivation, satiation feeding, growth, feed utilization.
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Effect of short-term cyclic feed deprivation on growth and Economic Limit of commercial feed-based in-door grow-out of Clarias gariepinus (Burchell, 1822)
International Journal of Fisheries and Aquaculture, 2013Co-Authors: Ofor Chukwuma Okereke, Ukpabi ChikwenduAbstract:Growth, feed utilization, and Economic Limit of commercial pelleted feed use were compared between daily-fed and feed deprived groups of Clarias gariepinus (Burchell, 1822) raised under low density culture. Groups of C. gariepinus were fed daily (Treatment 1) or on alternate days (Treatment 2) for 5½ months, with 45% crude protein commercial pellets. Feeding was at a rate of 6% body weight per day which was considered satiation feeding. Cost and revenue were determined on the basis of feed cost and revenue from fish sales respectively. Treatment 1 yielded profits up to a mean weight of 64±8 g at feed conversion ratio 1.0±0.08 and 4.71% loss at mean weight of 105±10 g and feed conversion ratio (FCR) 2.1±0.7. Treatment 2 was profitable up to harvest mean weight of 264±10 g. Feed conversion ratio, mean weight, and total weight, were significantly higher in Treatment 1 (p
Kathleen E Duncan - One of the best experts on this subject based on the ideXlab platform.
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in situ lipopeptide biosurfactant production by bacillus strains correlates with improved oil recovery in two oil wells approaching their Economic Limit of production
International Biodeterioration & Biodegradation, 2013Co-Authors: Noha H Youssef, Randall D Simpson, Michael J Mcinerney, Kathleen E DuncanAbstract:Abstract Significant amounts of entrapped oil could be potentially recovered from water-flooded reservoirs nearing their Economic Limit of production via biosurfactant-enhanced oil recovery. However, evidence for the persistence and metabolic activity of injected biosurfactant-producing bacterial species activity is lacking. We injected a glucose-nitrate-mineral nutrient mixture and two lipopeptide biosurfactant-producing Bacillus strains into two wells to correlate in-situ metabolism with oil recovery. Two wells producing from the same Viola formation were each inoculated with about 60 m 3 of tank battery brine with a nutrient mixture containing glucose, sodium nitrate and trace metals and Bacillus licheniformis RS-1 and Bacillus subtilis subsp. subtilis spizizenii NRRL B-23049. Analysis of production water indicated in-situ growth of the injected strains and other heterotrophic fermenting bacteria, metabolism of the nutrients, and biosurfactant production. Both wells had a peak lipopeptide biosurfactant concentration of 20 and 28 mg/L, respectively, which is twice the minimum concentration required to mobilize entrapped oil from sandstone cores. Metabolic products of glucose fermentation in both wells were acetate, 2,3-butanediol, ethanol, formate, lactate, and succinate and cells and these products accounted for 107.6% of the glucose used. The increase in biosurfactant, acids, alcohols and carbon dioxide during the first 5 days after commencement of production corresponded directly with an increase in oil recovery. Wellhead measurements of total produced fluid, the water-to-oil ratio and the percentage of oil showed that about 52.5 m 3 of additional oil (net cumulative increase) occurred during the first 60 days of sampling. These results showed the feasibility of stimulating in-situ biosurfactant production and its potential to improved oil production from mature oil reservoirs.
Sinopec Exploration - One of the best experts on this subject based on the ideXlab platform.
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The Calculation of Economic Limit for Overseas Oil & Gas Exploration and Development Project
2020Co-Authors: Sinopec ExplorationAbstract:Economic evaluation for overseas oil gas exploration and development project is complex with many indexes.The key indexes are the calculation of minimum Economic reserve and single well Economic Limit,whose method and ideas are different with that at home.In the overseas projects,the benefit of the host country of the resources is 60% to 80% of the whole benefit.When the Economic Limit of the overseas project is calculated,items and related factors of the finance and taxation in the contract should be researched,and Economic Limit model should be programmed based on the items.Then calculation should be made by the model so as to gain correct and valuable results.The calculation method of the Economic Limit of the overseas project is discussed,and the key indexes is calculated and analyzed through the examples.The calculation of minimum Economic reserve applies the discounted cash flow method,that is to say,Economic evaluation model is built according to the finance tax items for the calculation with the technical and Economic parameters of the concrete project.The determination of single well Economic Limit applies the incremental analysis with the illustration of the calculation on initial daily production and Economic recoverable reserve for single well.
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the calculation of Economic Limit for overseas oil gas exploration and development project
Sino-Global Energy, 2011Co-Authors: Sinopec ExplorationAbstract:Economic evaluation for overseas oil gas exploration and development project is complex with many indexes.The key indexes are the calculation of minimum Economic reserve and single well Economic Limit,whose method and ideas are different with that at home.In the overseas projects,the benefit of the host country of the resources is 60% to 80% of the whole benefit.When the Economic Limit of the overseas project is calculated,items and related factors of the finance and taxation in the contract should be researched,and Economic Limit model should be programmed based on the items.Then calculation should be made by the model so as to gain correct and valuable results.The calculation method of the Economic Limit of the overseas project is discussed,and the key indexes is calculated and analyzed through the examples.The calculation of minimum Economic reserve applies the discounted cash flow method,that is to say,Economic evaluation model is built according to the finance tax items for the calculation with the technical and Economic parameters of the concrete project.The determination of single well Economic Limit applies the incremental analysis with the illustration of the calculation on initial daily production and Economic recoverable reserve for single well.
