scholarly journals INVENTORY CONTROL MANAGEMENT AND REVENUE GENERATING CAPABILITIES OF OIL AND GAS DRILLING FIRMS IN NIGERIA

10.26458/1947 ◽  
2019 ◽  
Vol 19 (4) ◽  
pp. 75-95
Author(s):  
Fineboy Ikechi JOSEPH ◽  
Cordelia Onyinyechi OMODERO ◽  
Uzochi Chinkata OKEZIE
Keyword(s):  
Inventory Control ◽  
Correlation Coefficient ◽  
Inventory Management ◽  
Oil And Gas ◽  
P Value ◽  
Oil Drilling ◽  
Gas Drilling ◽  
Drilling Operations ◽  
Oil And Gas Drilling ◽  
Control Management

Abstract The critical role of effective inventory control has been much emphasized in the oil and gas industry which is subdivided into upstream and downstream sectors with drilling activities falling within the upstream subsector. In light of this development, this study investigates effective inventory control and effective drilling activities of oil and gas drilling firms as well as its relationship with revenue generating capabilities of oil drilling firms in Nigeria. Simple random sampling technique was adopted. Presentation and analyses of primary data collected with questionnaire and testing of the hypotheses were done using percentage and Spearman’s Rank correlation coefficient. The results from the tests with the use SPSS show positive and significant correlation between ineffective inventory management and downtime in the operations of oil and gas drilling with a correlation value of 0.682 with p-value = 0.001< 0.05 which implies that there is 68% relationship between ineffective management and downtime drilling.  There is a significant correlation between incessant downtime in operations of oil and gas drilling firms and their income level owing to poorly managed inventory control with a correlation coefficient value of 0.788 with p-value = 0.000< 0.05 which implies that there is 79% relationship between income (profit) level and downtime in drilling operations. Incessant downtime in drilling operations of oil and gas firms as a result of poor inventory control management has significant difference with termination of contract of oil drilling firms with the result the F-cal value as 344.632 while F tabulated value as 3.901 leading to rejection of hull hypothesis.  Based on the findings, it was the recommended that oil drilling firms should strengthen their inventory management system for effective and timely work delivery in order to avert downtime, loss of income and termination of contracts. Finally, members of staff of an oil and gas drilling firms in inventory unit should be trained and retrained on regular basis to embrace technological changes in inventory management to improve their performances which would in turn strengthen the inventory management of such firms.

scholarly journals Utilization of shredded waste car tyres as a fracture seal material (FSM) in oil and gas drilling operations

2017 ◽  
Vol 8 (3) ◽  
pp. 21-28
Author(s):  
N. J. AlAwad Musaed ◽  
K. A. Fattah
Keyword(s):  
Oil And Gas ◽  
Gas Drilling ◽  
Drilling Operations ◽  
Oil And Gas Drilling

scholarly journals CFD Method for Predicting Annular Pressure Losses and Cuttings Concentration in Eccentric Horizontal Wells

2014 ◽  
Vol 2014 ◽  
pp. 1-16 ◽  
Author(s):  
Titus N. Ofei ◽  
Sonny Irawan ◽  
William Pao
Keyword(s):  
Experimental Data ◽  
Oil And Gas ◽  
Current Model ◽  
Fluid Velocity ◽  
Pipe Diameter ◽  
Pressure Losses ◽  
Gas Drilling ◽  
Drilling Parameters ◽  
Drilling Operations ◽  
Oil And Gas Drilling

In oil and gas drilling operations, predictions of pressure losses and cuttings concentration in the annulus are very complex due to the combination of interacting drilling parameters. Past studies have proposed many empirical correlations to estimate pressure losses and cuttings concentration. However, these developed correlations are limited to their experimental data range and setup, and hence, they cannot be applicable to all cases. CFD methods have the advantages of handling complex multiphase flow problems, as well as, an unlimited number of physical and operational conditions. The present study employs the inhomogeneous (Eulerian-Eulerian) model to simulate a two-phase solid-fluid flow and predict pressure losses and cuttings concentration in eccentric horizontal annuli as a function of varying drilling parameters: fluid velocity, diameter ratio (ratio of inner pipe diameter to outer pipe diameter), inner pipe rotation speed, and fluid type. Experimental data for pressure losses and cuttings concentration from previous literature compared very well with simulation data, confirming the validity of the current model. The study shows how reliable CFD methods can replicate the actual, yet complex oil and gas drilling operations.

scholarly journals Rheological impact and economic implications of partial to total substitution of imported bentonite clay for oil and gas drilling operations in Nigeria

2020 ◽  
Author(s):  
Oghenerume Ogolo ◽  
Akeem Arinkoola ◽  
Samuel Osisanya ◽  
Frank Egede ◽  
Ternenge Joseph Chior
Keyword(s):  
Crude Oil ◽  
Oil And Gas ◽  
Negative Impact ◽  
Bentonite Clay ◽  
Local Clay ◽  
Economic Implications ◽  
Gas Drilling ◽  
Drilling Operations ◽  
Oil And Gas Drilling ◽  
The Cost

AbstractIn less than a decade, there have been two global meltdowns of crude oil price and the latest was caused by the spread of coronavirus disease (COVID-19) in 2020. This is expected to have a negative impact on the global economy, especially on those countries that depend more on the revenue from sales of crude oil. One of the measures that can be taken to survive this kind of situation in the future is to reduce the unit technical cost for producing a barrel of oil by using locally available materials. This research investigated a local clay sourced from Ropp in Plateau State, Nigeria, by considering its rheological characteristics and economic implications of using it for partial to total substitution of imported bentonite clay for oil and gas drilling operations. The local clay was termed as Ropp bentonite clay (RBC). Various spud mud samples were prepared by dispersing a mixture of imported bentonite clay (IBC) and RBC (0–100%) in 350 ml of water. Certain quantity (0–1 g) of polyacrylamide cellulose was added to the mud samples before rheological and physical properties were determined using the standard API procedure. An economic model was built to determine the cost implications of using any of the mud formulations at different consumption rates. The results show that IBC–RBC blend in the right proportion could save Nigeria 12 to 36% of the cost of bentonite clay used to drill wells in the country.

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