| Learning Curves for Drilling Time & Cost |  |
In a resource play, significant learning can be achieved over the development of the field and can significantly impact drilling time and costs. A learning curve based on well count requires a drilling program to know how many wells have been previously drilled, and the schedule for the drilling program needs to dynamically reflect the learning.
Creating a Learning Curve
The learning curve can be input as a parameterized formula in the drilling program. See the function examples for a specific learning curve equation.
The algorithm for the learning curve is defined by the user.
- User-defined variables can be used to centralize data entry and allow easy modification to the learning curve across several different drilling programs.
Results of a Learning Curve
The impact of the learning curve can be observed in the drilling times for the wells over the life of the drilling program.
In the same fashion a learning function can be applied to specific capital expenditures in the program, such as drilling capital.