Updated Fervo 400 MWe estimates

Author: softwareengineerprogrammer

tests/examples/Fervo_Project_Cape-3.txt

@@ -1,10 +1,8 @@
 # Case Study: Fervo Project Cape 3: Extrapolation from Fervo results pre-published 2024-09-10 at
 # https://eartharxiv.org/repository/view/7665/ to 400MWe capacity.
-# Norbeck J., Gradl C., and Latimer T. 2024.
+# Norbeck J., -- Gradl C., and Latimer T. 2024.
 #    "Deployment of Enhanced Geothermal System technology leads to rapid cost reductions and performance improvements."
 #    https://doi.org/10.31223/X5VH8C
-
-
 Reservoir Model, 1
 Reservoir Volume Option, 1
 Reservoir Density, 2800
@@ -13,16 +11,13 @@ Reservoir Heat Capacity, 790
 Reservoir Thermal Conductivity, 3.05
 Reservoir Porosity, 0.0118
 Reservoir Impedance, 0.001
-
 Number of Fractures, 149
 Fracture Shape, 4
 Fracture Height, 2000
 Fracture Width, 10000
 Fracture Separation, 30
-
 Number of Segments, 1
 Gradient 1, 74, -- temperature at 8500 ft: 200 degC (https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf); 228.89 degC @ 9824 ft (https://doi.org/10.31223/X5VH8C)
-
 Number of Injection Wells, 39
 Number of Production Wells, 39
 Production Flow Rate per Well, 120, -- peak flow reported in paper
@@ -40,13 +35,12 @@ Maximum Drawdown, 1
 Ambient Temperature, 10 degC
 Surface Temperature, 10 degC
 End-Use Option, 1
-Plant Lifetime, 15
+Plant Lifetime, 20
 Power Plant Type, 2
 Circulation Pump Efficiency, 0.80
-
-Exploration Capital Cost, 0
-Well Drilling and Completion Capital Cost, 4, -- Assume cost continues to decrease from 4.8 (https://houston.innovationmap.com/fervo-energy-drilling-utah-project-2667300142.html)
-Reservoir Stimulation Capital Cost, 78, -- $1M/well estimated
+Exploration Capital Cost, 30
+Well Drilling and Completion Capital Cost, 5.84, -- $3.84M/well + $2M/well additional stimulation cost
+Reservoir Stimulation Capital Cost, 78, -- $3M/well - $1M as stimulation + $2M represented in well drilling cost
 Economic Model, 3
 Starting Electricity Sale Price, 0.15
 Ending Electricity Sale Price, 1.00
@@ -58,15 +52,14 @@ Gross Revenue Tax Rate, 0
 Inflated Bond Interest Rate, .05
 Inflated Equity Interest Rate, .08
 Inflation Rate, .02
-Investment Tax Credit Rate, 0
+Investment Tax Credit Rate, .3
 Inflation Rate During Construction, 0.05
 Property Tax Rate, 0
 Time steps per year, 10
 Maximum Temperature, 500
-Surface Plant Capital Cost Adjustment Factor, 0.78, -- pad drilling reduces surface CAPEX by 22% https://www.resfrac.com/blog/digesting-the-bonkers-incredible-off-the-charts-spectacular-results-from-the-fervo-and-forge-enhanced-geothermal-projects
-
+Surface Plant Capital Cost Adjustment Factor, 0.71, -- $1900/kW (peak production)
 Well Geometry Configuration, 4
 Has Nonvertical Section, True
 Multilaterals Cased, True
 Number of Multilateral Sections, 3
-Nonvertical Length per Multilateral Section, 4700 feet
+Nonvertical Length per Multilateral Section, 7500 feet