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GLE 2024 (Day 3) > PETROLEUM EXPLO > Flashcards

PETROLEUM EXPLO Flashcards

1
Q

Upstream Petroleum life cycle

A

Pre Concession - indetify prospective basins conduct basin analysis
Concession - apply for service contacts PECR
Exploration - Search for Oil and Gas w/in applied service contact and integrate data to form drillable prospects
Appraisal - Delineat the volume of reseres and drill additional appraisal well
Development - builsing of surface and subsurface faiclities
substantial investment requires
Production - Extraction, Processing and Exportation
Abandonment - Decomissioning

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2
Q

Types of Exploration Area

A

1) Established Oil Province
2) Frontier (New)

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3
Q

Regalian Doctrine

A

Article 12 Section 2

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4
Q

Law that mandates DOE to spearhead any energy exploration, development, utilization, distribution and conservation

A

RA 7638 DOE Act of 1992

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5
Q

Phases of Oil and Gas Field

A

1) Exploration - Wildcat Well
2) Appraisal - drill more wells to establish extent
3) Developmet - Wells drilled for exploitation of reserve
4) Maintenance
5) Abandonment - Unprofitable already

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6
Q

A geophysical technique similar to an ultrasound that is used to develop images of the subusface
Recrordng and interpreating arfticially induces shock waves in the earth

A

Seismic Reflection Survey

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7
Q

Info that can be provided by Seismic Survey

A

Bed Thickness
Geometry
Rock Type
Faulting and Fracturing
and sometimes, liquid present

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8
Q

Both source and detectors are moved along a straigh line

A

2D Reflection Seismic survey

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9
Q

Detectors are spread out over and area and the source is moved from location to locations within the area

A

3D Reflection Seismic Survey

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10
Q

Exact repetition of a 3D survey at two or more time intervals with the prime objective to MAP Movement of fluids interfaces in producing oil and gas reservoir

A

4D Reflection Seismic Survey

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11
Q

Surveys used to determine Geometry and depth of covered geological structures using the unique density and magnetic suscpetibility signatures compared to surrounding rocks

A

Density and Magnetic Surveys

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12
Q

Used to Map surface distribution of stratigraphy and its sturcture which can be used to delineate potential hydrocarbon accumulatio

A

Seismic Surveys

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13
Q

How is onshore sesimic survey conducted?

A

1) Shot holes are drilled where explosive are denoated to send energy waves down the strata
2) Waves are reflected back to the surface and picked up by geophones connected by a seismic cable to the recording instruments

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14
Q

How is offshore seismic survey conducted?

A

with the use of airgunds and streamers with hydrophones towed by a marine seismic vessel

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15
Q

What is the Signal to Noise ratio favorable for processing?

A

High Signal to Noise Ratio

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16
Q

Collective term that covers technically recoverable quantities of petroleum classified accordin to the maturity of the project that is necessary to revocer

A

Resources

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17
Q

Refers to the total amount of oil present in the field before production has started

A

STOOIP (Stock Tank Oil Originally in Place)

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18
Q

STOOIP Formula

A

Volume x Net to Gross Factor x Porosity x HC Saturation / Formation Volume Factor

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19
Q

Portion of oil and gas that is recoverable under economic constraints

A

RESERVE (Portion)

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20
Q

Percentage of oil and gas that is economically recoverable

A

Recovery Factor (Percentage)

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21
Q

RESERVE COMPUTATION for PETROLEUM

A

Reserve = (Area x Height x Porosity x HC Saturation x Recovery Factor) / Formation Volume Factor (FVF)

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22
Q

Hydroacrbon saturation is equal to

A

1 - water saturation

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23
Q

A well in a undrilled Area

A

Wildcat well

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24
Q

A well in a new area with uknown producing potenrial

A

Exploratory Well = Wildcat

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25
Q

Additional well drilled after discovery to confirm size of hydrocarbon deposit

A

Appraisal Well

26
Q

A secondary well after the discovery well drilled to help determine field extent, volume and production rate

A

Confiramtion well or Delineation well

27
Q

Drilled after the discovery and appraisal well to develop hydrocarbon production potential of the field

A

Development well

28
Q

A well that produces HC in commecial quantities

A

Production well

29
Q

A well either specifically drilled especially in poor producer that is converted to inject fluids to stabilize the decline in pressure on a producing zone

A

Injection Well

30
Q

A well determined to determine stratigraphy of area

A

Stratigraphic Well

31
Q

Well drilled vertically into the subsruface

A

Vertical well

32
Q

Well drilled at an angle from the vertical >10deg

A

Deviated well

33
Q

Well drilled by deviation drillinga nd tracks the dip of a subsurface reservoir (80-90 deg)

A

Horizontal Well

34
Q

Last phase of exploration

A

Drilling

35
Q

Opeartion on a well designed to demonstrate the existence of moveable petroleum in a reservoir by estabilighing flow to the surface

A

Flow Test

36
Q

Operates at water up to 12,000 ft Depths

A

Drillship

37
Q

Operates at water depths up to 10,000 ft

A

Semisubmersible

38
Q

Operates at water depths up to 500 ft

A

Jack-up Rig

39
Q

Operates at relatively shallow ater

A

Drilling Barge

40
Q

Metal structures erected over an oil well in which tools for drilling are raised and lowered (Usually ung mukang satellite tower)

A

Derrick

41
Q

Mechanichal device that is mounted on the top of the derrick which has several pulleys and with the traveling block, it supports the drill pipes

A

Crown Block

42
Q

Device that circulates the mud in the drilling rig

A

mud pump

43
Q

Basin that contains mud which is used mainly to cool and lubricate the bit and to remove debris

A

Mud Pit

44
Q

Halllow steel rods that are joined together according to the depth of the excavation and their rotation activates the bit

A

Drill pipe

45
Q

Heavy Steel Tube immediately above the bit that applies a certain weight to the bit to help it cut into the rock

A

Drill collar

46
Q

Spaces Between the drill Pipe and the rock

A

annulus

47
Q

Rotating drill blade with toothed steel or dimanod wheels

A

Drill Bit

48
Q

How much is the onshore well drilling

A

$6M - $15M US

49
Q

Cost of offshore wells

A

$20M-$50M

50
Q

The percentatgge of the oil/gas in place which is economically recoverable

A

Recovery Factor (Percentage)

51
Q

Utilizes the natural energy present in the reservoir to drive production

A

Primary Recovery

52
Q

Incomings and outgoings of cash representing activities of an organization

A

Cash flow

53
Q

Inflow - outflows in a given period

A

Net Cash Flow

54
Q

Expenses incurred to buy fixed assests or to add to the value of an exiting fixed asses with a useul life extending beyond the taxable year

A

CAPEX

55
Q

Ongoing cost for running a product, businessm or system

A

OPEX

56
Q

Oil and Gas Price units

A

$US/BBL
$US/cu feet
MMBTU

57
Q

The sum of the present values of incoming and outgoing cash flows over a period of time

A

Net Present Values (NPV)

58
Q

Measure and compare the proftability of investement

A

Internal Rate of Return(IRR)

59
Q

period of time required for ROI

A

Payback period

60
Q

Total weighted outcomes associated with a decision

A

Expected Monetary Value (EMV)

61
Q

Revenue shared after decductions

A

Total Government Take
Company Take

GLE 2024 (Day 3) (48 decks)

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