AFE: projected drilling time

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The time required to drill the well has a significant impact on many items in the cost estimate. Properly estimating the time required is an important part of well planning that must be reflected in the authority for expenditure (AFE). The effect of these items on the overall well cost is dependent on the actual unit cost (i.e., U.S. 15,000/day for a land rig vs. Consider the well in Figure 1. Assume the well will be drilled in east Texas. Table 1 summarizes the projected times for the well in three cases and illustrates the cost differences.

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