Life of an Oil Well
We hope that you enjoy the Life Cycle of an Oil Well video shown above. While it is our longest video at approximately 19 minutes, we believe making the time to watch the entire video is well worth the investment. The video provides a complete and thorough overview of what happens before, during and after a drill bit hits the ground.
What is the life cycle of an oil well?
The average life cycle of an oil well, which begins with the planning stage and ends upon abandonment and/or reclamation, is roughly 20 to 30 years.
The life cycle of an oil well involves, but is not limited to the following steps:
• Data Evaluation
• Obtain Lease
• Shoot Additional 3D Seismic
• Evaluation of 3D Seismic/Data
• Prospect Selection
• Prepare AFE (Authority for Expenditure)
• Clear and Prepare Site, Stake the Well
• Rig Up, Cement Surface Casing
• Blowout Preventer (BOP)
• Drill Well/Drill Stem Test
• Run Open Hole Log
• Set Casing
• Clean the Well
• Field Development
• Abandonment and Reclamation
While, generally, the Operator who is at the helm of the ship gets to carry the trophy upon a success, the success could not be possible without the expertise and efforts of the unsung heroes behind the scenes. These unsung heroes include: Geophysicists, Seismologists, Petrophysicists, Geologists, Land and Legal Professionals, Operators, Petroleum Engineers, Operations Management Personnel, Drillers, Drilling and Completion Operations Service Providers, Capital Providers, Upstream Providers for oil and gas sales. Each of these industry professionals individually, and collectively, play a role from the earliest stages through the wells life, that ultimately influence the outcome of the project.
We at Aresco are proud to share our successes with all of those that collaborated along the way.
Learn more about why now is the time to invest in oil or request more info.