Browsing by Subject "Economic"
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Item A dynamic model-based estimate of the potential value of a vanadium redox flow battery for energy arbitrage and frequency regulation in Texas(2012-08) Fares, Robert Leo; Webber, Michael E., 1971-; Meyers, Jeremy P.Large-scale electrochemical energy storage is a technology that is uniquely suited to integrate intermittent renewable energy sources with the electric grid on a large scale. Grid-based energy storage also has the potential to reduce costs associated with periods of peak electric demand. For these reasons, this work describes the potential applications for grid-based energy storage, and then reviews large-scale energy storage technology innovations since the development of the lead-acid battery. The potential value of grid-based battery energy storage is discussed in the context of restructured electricity markets; then, a dynamic model-based economic optimization routine is developed to gauge the potential value of a vanadium redox flow battery (VRFB) operating for wholesale energy arbitrage and frequency regulation in Texas. Based on this analysis, the relative value of a VRFB in various regions of Texas for energy arbitrage and frequency regulation is examined. It is shown that frequency regulation is an appealing application for a grid-based VRFB, with a VRFB utilized for frequency regulation service in Texas potentially worth approximately $1500/kW. Finally, the effect of a VRFB’s characteristics on its value for frequency regulation and energy arbitrage are compared, and the operational insight developed in this work is used to glean how policies to integrate a large-scale energy storage with the electricity market might be crafted.Item Economic evaluation of smart well technology(Texas A&M University, 2007-09-17) Al Omair, Abdullatif A.The demand of oil and gas resources is high and the forecasts show a trend for higher requirements in the future. More unconventional resource exploitation along with an increase in the total recovery in current producing fields is required. At this pivotal time the role of emerging technologies is of at most importance. Smart or intelligent well technology is one of the up and coming technologies that have been developed to assist improvements in field development outcome. In this paper a comprehensive review of this technology has been discussed. The possible reservoir environments in which smart well technology could be used and also, the possible benefits that could be realized by utilizing smart well technology has been discussed. The economic impact of smart well technology has been studied thoroughly. Five field cases were used to evaluate the economics of smart well technology in various production environments. Real field data along with best estimate of smart well technology pricings were used in this research. I have used different comparisons between smart well cases and conventional completion to illustrate the economic differences between the different completion scenarios. Based on the research, I have realized that all the smart well cases showed a better economic return than conventional completions. The offshore cases showed a good economic environment for smart well technology. Large onshore developments with smart well technology can also provide a lucrative economic return. These situations can increase the overall economic return and ultimate recovery which will assist in meeting some of the oil demand around the globe.Item Information structure and stock return distribution: an empirical examination(Texas Tech University, 1990-08) Hung, Chih-youngNot availableItem Technical, economic and risk analysis of multilateral wells(2009-05-15) Arcos Rueda, Dulce MariaThe oil and gas industry, more than at any time in the past, is highly affected by technological advancements, new products, drilling and completion techniques, capital expenditures (CAPEX), operating expenditures (OPEX), risk/uncertainty, and geopolitics. Therefore, to make a decision in the upstream business, projects require a thorough understanding of the factors and conditions affecting them in order to systematically analyze, evaluate and select the best choice among all possible alternatives. The objective of this study is to develop a methodology to assist engineers in the decision making process of maximizing access to reserves. The process encompasses technical, economic and risk analysis of various alternatives in the completion of a well (vertical, horizontal or multilateral) by using a well performance model for technical evaluation and a deterministic analysis for economic and risk assessment. In the technical analysis of the decision making process, the flow rate for a defined reservoir is estimated by using a pseudo-steady state flow regime assumption. The economic analysis departs from the utilization of the flow rate data which assumes a certain pressure decline. The financial cash flow (FCF) is generated for the purpose of measuring the economic worth of investment proposals. A deterministic decision tree is then used to represent the risks inherent due to geological uncertainty, reservoir engineering, drilling, and completion for a particular well. The net present value (NPV) is utilized as the base economic indicator. By selecting a type of well that maximizes the expected monetary value (EMV) in a decision tree, we can make the best decision based on a thorough understanding of the prospect. The method introduced in this study emphasizes the importance of a multi-discipline concept in drilling, completion and operation of multilateral wells.Item When the recession came to Texas(2011-05) DeCanio, Geoffrey Stephen; Todd, Russell; Minutaglio, BillFor years, Texas’ economy seemed to be insulated from the economic uncertainties faced by the rest of the country. But now, reeling from deficits, the strains of immigration, and a troubled housing industry, Texas is confronted with the realities of trying to survive and thrive in the midst of recession. May still believe Texas plays by a different set of economic rules. Contrary to this opinion, the Texas economy is neither inherently better nor more resilient than any other part of the country. In the global economy, Texas has no particular advantage over any other state. The year 2011 is a defining one for Texas. Its legislature will not meet again until early 2013, and the policies it decides upon now will have an incredible influence on the nature of its economic recovery. Texas remains at an economic crossroads.