Learn Curve Analysis

Learn Curve

The basic assumption in Learn Curve theory (as applied to drilling) is that with experience and a better use of technology, we can improve the way in which we drill wells. This results in a saving of possibly both time and money.
The Learn Curve “shows the economic impact of learning and quantifies how much money can be saved by learning faster, by planning better, and by applying technology. The model also indicates a company’s level of technological and operational capability for any series of wells drilled, and how much money can be saved by improving these capabilities in similar situations. ”

Applying Learn Curve Analysis

Applying Learn Curve Analysis to drilling operations gives learning rates between 1.5 and 0 for different scenarios. Values of less than 0.15 indicate either no learning or a situation where the capability limit has been reached.