Extracting Oil Lab
Hello! We have found oil, now we need to extract it out. We did another lab. How much money shall the family car make today? LOL *Inside Joke*
Sorry, we forgot to get the pictures for the lab. Please wait until we email the pictures to the group.
Sorry, we forgot to get the pictures for the lab. Please wait until we email the pictures to the group.
Goal: So far, we have explored ways to find oil. Now, they will have the chance to extract that oil and learn about the business of fossil fuel energy.
Materials: The same oil field used in part 1, the map produced in part 1, markers, ruler, chopstick, tape, reservoir volume and recovery rate cards.
Drilling Rules: Each group starts with a $3 million drilling budget. The goal is to make money by extracting oil. To drill, a group attaches a drill bit (toothpick) to the drilling rig (chopstick). The group then uses the map generated in part 1 to drill in places they feel are likely to contain oil. The following budgetary rules apply:
- $225,000 to set up the drill rig in a new location
- $100,000 for each cm drilled
- $500,000 for a broken drill bit and replacement
- $500,000 for EPA infractions (disturbing the surface of the oil field)
How to play: Each team will use the oil field map they created using the seismic data provided by the Kearny Geological Solutions field team. The team will choose a grid square in which to drill, following the rules above. Once the team has located the oil, they draw a card representing the size of their reservoir (between 5 and 8 km3) and the recovery rate of the oil (between 25% and 50%). They can then calculate the amount of oil in the reservoir and the amount of oil extracted.
Amount of oil in reservoir = reservoir volume * 0.5 (due to rocks, sand, etc.)
Amount of oil recovered (km3) = Amount of oil in reservoir * recovery rate
Barrels of oil = Amount recovered (km3) * 6290 (Barrels/km3)
Money from sale = Barrels of oil * 93.76 ($/Barrel)
Materials: The same oil field used in part 1, the map produced in part 1, markers, ruler, chopstick, tape, reservoir volume and recovery rate cards.
Drilling Rules: Each group starts with a $3 million drilling budget. The goal is to make money by extracting oil. To drill, a group attaches a drill bit (toothpick) to the drilling rig (chopstick). The group then uses the map generated in part 1 to drill in places they feel are likely to contain oil. The following budgetary rules apply:
- $225,000 to set up the drill rig in a new location
- $100,000 for each cm drilled
- $500,000 for a broken drill bit and replacement
- $500,000 for EPA infractions (disturbing the surface of the oil field)
How to play: Each team will use the oil field map they created using the seismic data provided by the Kearny Geological Solutions field team. The team will choose a grid square in which to drill, following the rules above. Once the team has located the oil, they draw a card representing the size of their reservoir (between 5 and 8 km3) and the recovery rate of the oil (between 25% and 50%). They can then calculate the amount of oil in the reservoir and the amount of oil extracted.
Amount of oil in reservoir = reservoir volume * 0.5 (due to rocks, sand, etc.)
Amount of oil recovered (km3) = Amount of oil in reservoir * recovery rate
Barrels of oil = Amount recovered (km3) * 6290 (Barrels/km3)
Money from sale = Barrels of oil * 93.76 ($/Barrel)
Procedure: 1. Measure and mark each centimeter on the chopstick
2. Attach the drill bit (toothpick) 3. Select the location for the first drill site and drill straight down. Make sure to note the depth of the drilling bit (cm). 4. Record the cost associated with the first site and the depth you drilled 5. If there was no oil, select another site and repeat the process (make sure to record all costs) 6. After oil is discovered, inform the site foreman (the teacher), select a reservoir and recovery rate card and calculate the total money spent and generated by this site. |
ItemDrill Rig Set up $225,000 each timeDrilling Cost $100,000 per cmDrill Bit Replacement $500,000EPA Infractions $500,000 |
(X) # of times used15 cmNoneNone |
Total Costs$225,000$500,000NoneNone |
Total Operational Costs: $275,000
Profit WorksheetReservoir SizeRecovery RateAmount of oil in reservoirAmount of oil recovered from reservoirBarrels of oil recovered from reservoirMoney from sale of oil |
Value5 km350%2.51.257,862.5$737,188 |
Total Profit (or Loss): $737,188
Question: Was your oil exploration operation profitable? Why or why not?
> It was profitable because we ended up getting $737,188 out of it.
Lab Questions:
1. Did your oil exploration and recovery efforts make money? Discuss which variables would you want to change to make your business more profitable.
> Yeah, we made some money. However, we didn't get a lot compared to other groups, the variables I would want to change would be to get different reservoir and recovery rate cards.
2. Complete the "T-chart" below, to show which aspects of this simulation were realistic, and which aspects did not mimic reality? Discuss how some of these variables were unrealistic.
> It was profitable because we ended up getting $737,188 out of it.
Lab Questions:
1. Did your oil exploration and recovery efforts make money? Discuss which variables would you want to change to make your business more profitable.
> Yeah, we made some money. However, we didn't get a lot compared to other groups, the variables I would want to change would be to get different reservoir and recovery rate cards.
2. Complete the "T-chart" below, to show which aspects of this simulation were realistic, and which aspects did not mimic reality? Discuss how some of these variables were unrealistic.
Realistic Variables |
Unrealistic Variables |
3. Summary: What was the purpose of this activity? What were some things you learned about oil exploration and extraction?
> I learned that finding and extracting oil is hard. I also learned that even if you do find oil, there is a possibility that you don't profit from it much.
> I learned that finding and extracting oil is hard. I also learned that even if you do find oil, there is a possibility that you don't profit from it much.
DONE!!! I'll see you guys later. Peace!