preprint · Research Square
Abstract Efficient evaluation and improvement of drilling performance are crucial for companies in the oil and gas industry to optimize work plans, scale operations, and allocate financial resources effectively. Drilling operations, which are major expenditure areas, have seen efforts to enhance efficiency and reduce costs. A significant focus has been on optimizing flat time, which accounts for about 30–40% of total well time and significantly impacts well costs. A pioneering project aimed at systematically optimizing flat time analyzed over 2000 flat time sections, establishing a robust baseline and implementing a digital dashboard for real-time performance monitoring across 12 rigs. This approach led to significant time savings of 186 days within two quarters and cost savings of over 150 million dollars over five years. The project's success was also measured by improvements in the Drilling Rate Improvement Index (DRII), showcasing notable efficiency gains. Through data-driven insights and flat time optimization, this project highlighted the potential for substantial cost savings and operational efficiencies in the oil and gas sector's drilling operations.
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DOI: 10.21203/rs.3.rs-4197432/v1
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