We show that crude oil production from existing wells in Texas does not respond to current or expected future oil prices, contradicting a basic prediction of Hotelling’s (1931) canonical model of exhaustible resource extraction. In contrast, the drilling of new wells exhibits a strong price response, as does the rental rate on drilling rigs. To explain these observations, we reformulate Hotelli...

Fluid injection has been applied in many fields, such as hazardous waste deep well injection, forced circulation in geothermal fields, hydraulic fracturing, and CO2 geological storage. However, current research mainly focuses on geological data statistics and the dominating effects of pore pressure. There are only a few laboratory-conditioned studies on the role of drilling boreholes and the ef...

Reservoirs with high pressures and temperatures (HPHT) that were considered to be atypical in the past are now frequent targets for exploration. For downhole oilfield drilling tools and components, the temperature and pressure affect the mechanical strength. To address this issue, a finite element analysis (FEA) for 206.84 MPa (30 ksi) pressure and 165°C has been performed on the pressure housi...

The present study investigates the relationships and parameter interactions between three controllable variables (lamp current, pulse frequency and air pressure) on hole taper in micro-drilling operations, in order to assess the effect of the different process parameters and also material properties in laser micro-drilling operations. Micro-drilling experiments have been conducted for Gamma-Tit...

designing drilling fluids for drilling in deep gas reservoirs and geothermal wells is a majorchallenge. cooling drilling fluids and preparing stable mud with high thermal conductivity are ofgreat concern. drilling nanofluids, i.e. a low fraction of carbon nanotube (cnt) well dispersed inmud, may enhance the mixture thermal conductivity compared to the base fluids. thus, they arepotentially usef...

Filtration index of the drilling fluid is an important parameter of well drilling, especially at drilling-in the reservoirs. Standard parameter in the study of drilling fluids is static filtration index. At the same time, it is more feasible to determine dynamic filtration index, if considering actual conditions of the well. Use of polymer carbonate-weighted drilling fluids is advisable at dril...

Wellbore instability is one of the major problems that hamper the drilling speed in Halfaya Oilfield. Comprehensive analysis of geological and engineering data indicates that Halfaya Oilfield features fractured shale in the Nahr Umr Formation. Complex accidents such as wellbore collapse and sticking emerged frequently in this formation. Tests and theoretical analysis revealed that wellbore inst...

Fluid invasion from water-based drilling mud (WBDM) into the shale formations causes swelling, high pressure zone near the wellbore wall, and eventually wellbore instability problems during drilling operations. For the stability of the wellbore, physical plugging of nanoscale pore throats could be considered as a logical approach toward avoiding the fluid invasion into the shale formation. This...