Finance:Rushmore Drilling Index & Estimated Drilling Days
The Rushmore Drilling Index (RDI) and Rushmore Estimated Drilling Days (REDD) are popular analytical tools developed in 2009,[1] owned by Rushmore Reviews, to assist well planners.
History
The RDI is an analytical tool based on Rushmore Reviews extensive global drilling database of offset wells, and is available to oil and gas companies who participate in the Reviews. The index is an entirely objective tool, and essentially estimates the speed it will take to drill a well after the user supplies the equation with 8-10 characteristics. The drilling speed is converted into an index number, ranging from 10 (easiest) to over 200 (most difficult). The resulting RDI number can then be used as a point of reference for well planning.[2]
The REDD was developed alongside the RDI by combining the most significant coefficients into a formula. Once the user has supplied the equation with 8-10 characteristics, it provides a P50 estimate of the number of days and ‘average’ Operator would take to drill a well.
External links
References
- ↑ "Rigzone: Operators Welcome New Global Drilling Difficulty Index". http://www.rigzone.com/news/article.asp?a_id=72342.
- ↑ Offshore Engineer (November 1, 2009). "Putting It All Together". Offshore Engineer: p. 55. Archived from the original on March 7, 2014. https://web.archive.org/web/20140307143856/http://www.slb.com/~/media/Files/drilling/industry_articles/200911_oe_operation_support_center.pdf.
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