don't override default 5% stimulation indirect cost

Author: softwareengineerprogrammer

docs/Fervo_Project_Cape-4.md

@@ -8,7 +8,7 @@ Financial results are calculated
 using
 the [SAM Single Owner PPA Economic Model](https://softwareengineerprogrammer.github.io/GEOPHIRES/SAM-Economic-Models.html#sam-single-owner-ppa).
 
-Key case study results include LCOE = $81.1/MWh and CAPEX = $5000/kW.
+Key case study results include LCOE = $81.8/MWh and CAPEX = $5000/kW.
 
 [Click here](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-4) to
 interactively explore the case study in the GEOPHIRES web interface.
@@ -47,7 +47,7 @@ in source code for the full set of inputs.
 | Inflation Rate                                            | 2.3%                                                                                                                  | US inflation rate as of April 2025                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
 | PPA Price                                                 | Starting at 9.5 cents/kWh, escalating to 10 cents/kWh by project year 11                                              | Upper end of ranges given in 2024 NREL ATB (NREL, 2024). Both PPAs 'firm for 10 years at less than $100/MWh' estimate given in a podcast.                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
 | Well Drilling Cost Correlation & Adjustment Factor        | Vertical large baseline correlation + adjustment factor = 0.8 to align with Fervo claimed drilling costs of <$4M/well | Akindipe & Witter, 2025;  Latimer, 2025.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
-| Reservoir Stimulation Capital Cost per Well               | $4.6M (including 15% contingency and 0% indirect costs)                                                               | The all-in cost is based on a ~$4.0M baseline stimulation cost, calibrated from per-stage costs of high-intensity U.S. shale wells (Baytex Energy, 2024; Quantum Proppant Technologies, 2020), which are the closest technological analogue for multi-stage EGS (Gradl, 2018). This baseline assumes standard sand proppant. The 15% contingency (~$0.6M) accounts for the necessary upgrade to ceramic proppant, which is required to resist mechanical crushing and geochemical degradation (diagenesis) over a 30-year well life at 200°C (Ko et al., 2023; Shiozawa & McClure, 2014). |
+| Reservoir Stimulation Capital Cost per Well               | $4.83M (all-in cost, including 15% contingency and 5% indirect costs)                                                 | The all-in cost is based on a ~$4.0M baseline stimulation cost, calibrated from per-stage costs of high-intensity U.S. shale wells (Baytex Energy, 2024; Quantum Proppant Technologies, 2020), which are the closest technological analogue for multi-stage EGS (Gradl, 2018). This baseline assumes standard sand proppant. The 15% contingency (~$0.6M) accounts for the necessary upgrade to ceramic proppant, which is required to resist mechanical crushing and geochemical degradation (diagenesis) over a 30-year well life at 200°C (Ko et al., 2023; Shiozawa & McClure, 2014). |
 | Capital Cost for Power Plant for Electricity Generation   | $1900/kW                                                                                                              | US DOE, 2021.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
 | Discount Rate                                             | 12%                                                                                                                   | Typical discount rates for high-risk projects may be 12–15%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
 | Inflated Bond Interest Rate                               | 5.6%                                                                                                                  | Typical debt annual interest rate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
@@ -83,12 +83,12 @@ in source code for the complete results.
 
 | Metric                             | Result Value                                           | Reference Value(s)                 | Reference Source                                 |
 |------------------------------------|--------------------------------------------------------|------------------------------------|--------------------------------------------------|
-| LCOE                               | $81.1/MWh                                              | $80/MWh                            | Horne et al, 2025                                |
-| Project capital costs: Total CAPEX | $2.66B                                                 |                                    |                                                  |
+| LCOE                               | $81.8/MWh                                              | $80/MWh                            | Horne et al, 2025                                |
+| Project capital costs: Total CAPEX | $2.69B                                                 |                                    |                                                  |
 | Project capital costs: $/kW        | $5000/kW (based on maximum net electricity generation) | $5000/kW; $4500/kW; $3000–$6000/kW | McClure, 2024; Horne et al, 2025; Latimer, 2025. |
 | Well Drilling and Completion Cost  | $3.96M/well (including 5% indirect costs)              | $<4M/well                          | Latimer, 2025.                                   |
 | WACC                               | 8.3%                                                   | 8.3%                               | Matson, 2024.                                    |
-| After-tax IRR                      | 27.55%                                                 | 15–25%                             | Typical levered returns for energy projects      |
+| After-tax IRR                      | 26.9%                                                  | 15–25%                             | Typical levered returns for energy projects      |
 
 ### Technical & Engineering Results