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
- chop stick
- toothhpicks
- tape
- reservoir volume and recovery rate cards
- the map produced in part 1
- markers
- ruler
- chop stick
- toothhpicks
- 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 one 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)
- $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)
Procedure
1) Measure and mark each centimeter on the chop stick
2) Attach the drill bit (toothpick)
3) Select the location for the first drill site and drill straight down. Make sure to not 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.
2) Attach the drill bit (toothpick)
3) Select the location for the first drill site and drill straight down. Make sure to not 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 time
Drilling Cost: $100,000/cm Drill Bit replacement: $500,000 EPA Infractions: $500,000 |
# of times used2
4cm n/a n/a Total Operation Costs: |
Total Costs$450,000
$400,000 n/a n/a $850,000 |
Profit WorksheetReservoir Size
Recovery Rate Amount of oil in reservoir Amount of oil recovered from reservoir Barrels of oil recovered from reservoir Money from sale of oil Total Profit (or loss): Questions |
Value7km^3
40% 3.5 1.4 8,806 $825,650.56 $825,657 |
- Yes, our drilling was profitable because we made lots of money without have to spend lots of money on things such as new drill bits or drill repairs.