Cover: Oilfield Review Autumn 2000
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Editorial: A User's Perspective on Drilling Bits
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The current generation of nuclear magnetic resonance (NMR) logging tools provides reliable information about formation fluids and porosity. Enhanced tool designs and data processing have improved data-acquisition speed and substantially reduced logging costs. New applications exploit synergies between NMR measurements and other logging measurements for robust solutions to problems in formation evaluation, completion engineering, geological characterization and reservoir optimization.
Risk looms large at almost every stage of the oil business, from exploration and production to marketing. Assessing risk and uncertainty aids decision-making and can help improve exploration and production performance. The tools that are used to cope with physical risk and uncertainty can also be used to understand economic risk and uncertainty, but they seldom are. This article discusses the latest tools for economic evaluation and risk assessment of proposed investments in oilfield projects, including discounted cash flow, Monte Carlo analysis, and portfolio, options and preference theories.
Advances in materials and manufacturing, more stable designs and improvements in bit hydraulics allow a single rotary bit to drill hole sections that in the past required multiple runs with several bits. This article reviews roller-cone and fixed-cutter bits as well as full-scale testing, computer modeling and downhole data monitoring to improve drilling performance and customize bits for specific formations.
Drilling efficiency, risk management and accurate well placement are the keys to lower exploration and development costs. Today's advanced logging-while-drilling (LWD) technology delivers real-time measurements and images for avoiding drilling problems, updating reservoir models and staying in hard to reach reservoirs. Field examples show how LWD measurements such as inclination at the bit, annular pressure and azimuthal density-neutron are reducing E&P costs and improving the success rates of extended-reach and horizontal wells.
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