Generalized Functional Models for Drilling Cost Estimation

Summary A new approach to drilling cost estimation is presented that establishes a general framework for cost estimation using a formalized systems perspective. A generalized functional approach is developed that combines regression-based techniques, as used in the Joint Association Survey (JAS), with the multidimensional attributes of drilling, as incorporated in the Mechanical Risk Index (MRI), Directional Difficulty Index (DDI), and Difficulty Index (DFI) models. A generalized methodology for framing the drilling cost estimation problem is presented and illustrated using a stylized example.