Dramatic Potential Cost Savings
OceanSENSE has the ability to potentially save $Hundreds of Thousands per top-hole drilled by saving hours of rig time and dramatically reducing the number of barrels of cement required during cementing operations.
This is achieved by detecting the arrival of dye in the spacer, pre-flush or actual cement the moment it arrives at the surface. Pumping may then be suspended thus saving hours of rig time. On subsequent wells, only the required amount of cement plus a safety factor needs pumping.
Oil companies have told us they can reduce the amount of cement over-pumped from a typical 250-300% down to 120-150% by early cement detection. To estimate how much you could save, choose a value you wish to over-pump using our online tool below.
|Unit costs used in this calculation|
$,000/day ($30,000/hr) drilling rig and exploration program cost
$/barrel cement materials cost
|Cementing costs per top-hole||Typical
|Percentage of required cement over-pumped|
|Hours taken to pump cement||1.80|
|Cost of rig time during pumping @ $30,000/hr||$90,000||$54,000|
|Barrels of cement required||1200|
|Cost of cement @ $200/barrel||$400,000||$240,000|
|Total cementing cost per top-hole||$490,000||$294,000|
|Potential savings across multiple top-holes||×||top-holes|
|Potential hours of rig time saved||1.20|
|Potential saving in rig time costs @ $30,000/hr||$36,000|
|Potential barrels of cement saved||800|
|Potential saving in cement costs @ $200/barrel||$160,000|
|Total theoretical saving across all top-holes
(excluding cost of OceanSENSE)
Excludes rental cost of OceanSENSE, typically around $500/day while operational