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pet 2 > test 2.6 > Flashcards

test 2.6 Flashcards

1
Q

what are the 5 stages of an oil field’s lifecycle

A
  • exploration
  • appraisal
  • development
  • production
  • abandonment
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2
Q

describe the exploration phase of an oil field’s lifecycle

A

Involves geological, geochemical and geophysical surveys

Geoscientists predict where the oil and gas occur.

– Geology: Structural and stratigraphic studies

– Geochemistry: Chemistry of petroleum and its sources

– Geophysics: Gravity, magnetic and seismic methodologies

Existence of a working petroleum system is proved.

– Preliminary business and economic planning

– Define the optimal drilling location

Drilling starts after all

» geological,

» economic,

» political and

» environmental

conditions are considered and evaluated.

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3
Q

name the 5 type of wells

A
  • wild cat
  • exploratory
  • appraisal (step out, delineation)
  • developmental
  • in-fill
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4
Q

what is a wild-cat well

A
  • Drilled in an unexplored and unproven area - Might be “Dry Hole”
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5
Q

what is an exploratory well

A

Assess if a prospect comprises commercial amounts of hydrocarbon

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6
Q

what is an appraisal well

A
  • step-out, delineation
  • Determine the size of the field

– Assess the viability of the reservoir

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7
Q

what is a development well

A

Drilled in the known extent of the field to produce the hydrocarbon

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8
Q

what is an in-fill well

A

Drilled within the original drilled well patterns

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9
Q

what is the most expensive component in exploration and field development

A

drilling operations

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10
Q

what 3 groups are involved in drilling operations

A
  • operating company
  • outside driller contractor
  • one or more service companies
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11
Q

what must be considered for each individual drilling operation

A

HSE

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12
Q

what are the drilling group’s activities

A

– Detailed well design, drilling rig selection

– Contractor evaluation and bid requests

– Risk assessment

– Ensuring safe, economic and on schedule operations

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13
Q

in most countries, land rights belong to who

A

the government

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14
Q

In the United States and parts of Canada, private land has which two separate types of ownerships?

A
  • surface rights owner
  • mineral rights owner
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15
Q

what is a lease

A

A legal document that grants the right to explore, drill and produce oil and gas during the life of the lease

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16
Q

what is a signing bonus

A

An up-front payment to the owner for granting the lessee a right to explore the property for a limited period of time

17
Q

name the effects on the lease if petroleum is or isn’t found

A
  • No exploration or no marketable hydrocarbon, Lease expires

– Commercial amounts of hydrocarbon, Lease is automatically extended

18
Q

what is a royalty

A

A fraction of the gross revenue from production paid to the owner.

19
Q

what is a concession agreement

A
  • foreign contract
  • Full control over exploration and production
  • Liable for the entire costs and risks
  • Pay bonuses, taxes, and royalties to the host country
  • operator gets all the oil
20
Q

what is a production sharing agreement (PSA)

A
  • foreign contract
  • Full control over exploration and production
  • Liable for the entire costs and risks
  • An agreed share of the gross production (cost oil) goes towards the costs.
  • The remaining production (profit oil) is split between the company and the host country
21
Q

what is a service contract

A
  • foreign contract
  • Contractor is paid a fee for specific services
22
Q

what is a production contract

A
  • foreign contract
  • Contractor takes over an existing or underdeveloped field to improve production
  • Portion of the increased production paid to the contractor
23
Q

what are the 4 types of foreign contracts

A
  • concession agreement
  • production sharing agreement (PSA)
  • service contract
  • production contract
24
Q

what is a joint operating agreement

A
  • A single well or the development of a larger area
  • Reduce the financial impact of a dry hole
  • Cost share and production shares are defined and agreed
25
Q

what is profit oil

A

oil that is split for profit in a psa

26
Q

what is cost oil

A

oil that goes only to paying off the costs in a psa agreement

27
Q

what is a support agreement

A
  • another name is a contribution agreement
  • find a partner to support you during operations
28
Q

what are 3 different types of support agreements

A

Dry hole agreement

  • Cash contribution towards a dry hole
  • Receives the geological and drilling information

Bottom hole agreement

  • Cash contribution to a certain well depth
  • Receives the geological and drilling information

Acreage contribution agreement

  • Property lease or interest contribution
  • Receives the geological and drilling information
29
Q

what are the 4 types of drilling contracts

A

Footage drilling contract

• Based on cost per foot to drill down to contract depth

Daywork contract

• Based on a cost per day to drill down to contract depth

Turnkey contract

• An exact cost to drill down to the contract depth

Combination contract

• Footage rate to a certain depth and daywork rate below that

30
Q

what is a drilling spacing unit (DSU)

A
  • A legally described boundary (a square or a rectangle area) around each well
  • Typically 40 or 80 acres for oil wells and 640 acres for gas wells.
  • Depends on the oil viscosity and reservoir permeability.
  • Well can be off center but cannot be located on the edge.
31
Q

what does the “allowable” government regulation mean

A

The maximum amount of production allowed from a single well, lease, or field during a specific unit of time.

32
Q

describe the stages of a drilling plan

A
33
Q

what is an AFE

A

authority for expenditure for drilling

34
Q

how is a drilling site prepared

A
  • Site is cleared of vegetation and leveled
  • Pad for the drilling rig and other equipment is constructed
  • Below-ground-level cellar is excavated
  • Reserve pit and settling pits for water or drilling fluid (mud) discharges is built
35
Q

what is rigging up

A

the erection of a drilling rig

36
Q

name the roles on a drilling crew

A
  • Company man/Rig Supervisor
  • Tool Pusher
  • Driller
  • Derrick man
  • Floormen (Rotary helpers, roughnecks)
  • Mud Engineer (Mud Logger)
  • Mechanics & Electricians
37
Q

name the parts of a typical rig site

A
  • personnel quarters
  • drill rig
  • pipe racks
  • power
  • mud system

pet 2 (5 decks)

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