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How much acreage does a well producer have to drill an oil well?
Wiki User
∙ 13y ago
I had some trouble understanding your question. I hope the following information helps.
Prior to drilling an exploration well. calculations are made to determine in required volume of hydrocarbons (oil and gas) to justify development. The gross volume is determined by the area (acreage) multiplied by the average oil column thickness.
The equation to calculate the volume of oil is N = C x Gross Volume x Porosity X Oil Saturation/ Bo, where C is a conversion constant and Bo is a Formation volume factor to account for the shrinkage of oil from reservoir to surface conditions. When the gross volume is in units of acre-ft, then C = 7758.
Generally, the more expensive the development costs, the more oil an exploration well needs to discover to justify development.
In developing a field, it is common to use a 40 acre at least initially. Offshore, well spacing is generally much larger, commonly 100 to 160 acres. There are notable exceptions, particularly in the early stages of development where the spacing may be much higher.
I hope this answers your question.
Wiki User
∙ 13y ago
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