Deep Water Drilling
Most new offshore oil potential is in deep water but demand for drilling can swing high or low as a function of widely varying well durations. Wells can take as little as 30 days or as long as 200 days to drill. This depends on the type of well, the technology deployed and the geology of the reservoir.
At the same time, sensitive field economics can alter the pattern of drilling, production flow rates and reserve recovery factors and the overall ratio of rig time to both production and reserve recovery.
What the Simulator Does
This simulator tool demonstrates the sensitivity of deep water rig demand to variations in some of the key parameters of field development strategy.