A Practical Approach to Evaluating Drilling Projects

In the past estimating drilling performance or project performance for well engineering projects has been carried out in a combination of ways such as accounting for time based events that eventually result in costs or financial relationships. It is rather unfortunate, but the requirement within the industry still remains the quantification of projects and project costs as a function of cost or financial exposure.

In most cases the situation is one of which inherent peculiarities within the project, though not man-made, are somewhat relegated to the background during project evaluation. Frequently this is due to the inability of project teams to quantify the parameters required to adequately establish key contributory factors responsible for overall project performance.

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