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The company's efforts have settled. By moving focus from vertical Cotton Valley wells to the Haynesville, Goodrich decreased its general proved industrialized finding and advancement expenses from $3. 21 an Mcf of gas equivalent to $2. 38 an Mcfe from 2009 to 2010. With oil costs trading much higher than gas on a Btu equivalent basis, Goodrich also is targeting the oil window of the Eagle Ford Shale.
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Although these wells take ability, time, and money to plan and construct, company authorities state they think they can achieve 50 plus percent rois. Drilling wells in either play requires rigs with the best equipment, states Denney. He states leading drives are necessary due to the fact that they enable pumping and turning the drill string while coming out of the hole, which is essential at times for hole cleaning.
Leading drives also maximize directional drilling performance. Drawworks that can deliver at least 1,500 horse power are also crucial, Denney adds. "Our company believe in high horse power," he stresses. " Read More Here -horsepower rig carries a premium over a 1,000-horsepower rig, but it speeds trips and puts less strain on the equipment. We get our cash's worth." Simply as important as the drawworks and top drive is having powerful mud pumps on the rig, Denney says.
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"That horsepower is required for mud hydraulics to keep the hole tidy, and to drive the downhole motor and other equipment. We have achieved as much as 6,000-foot laterals to date, and we are targeting 9,000-foot long laterals in the future." In numerous cases, it makes sense for the rig to have the ability to skid, Denney states.
"In the Eagle Ford, if we can skid, our drilling costs can be reduced as much as $500,000 a well," he says. Goodrich Petroleum is far from the only business that requires "high-spec" rigs with effective top drives, hoisting systems and pumps. According to market sources, rigs with larger (+1,000) horsepower rankings represent an estimated 60 percent of the active rig fleet.