Geothermal Well Cost Analyses 2006
- Key words
- Drilling; Well costs, drilling, well construction, well cost analysis
- Conference
- Geothermal Resources Council Transactions
- Year
- 2006
- Session
- Drilling; Economics
- Language
- English
Abstract
Continuing analyses of geothermal well costs have improved our understanding of estimating costs of future geothermal well, in particular the costs to be expected for first generation Engineered Geothermal Systems (EGS). Past work focused on analysis of well data in the Sandia Well Cost Database and we continue to gain insights from analyzing that data. However, in the past year, we have moved from using extrapolations of curve fits to predict EGS well costs to calculating costs using WellCost Lite. In addition to changes in our understanding in well costs as a result of further analyses, additional data, and improved EGS well designs, there have been significant changes in fundamental cost drivers, for example rig rates and the prices of steel, cement, etc. that need to be accounted for.
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