Adjust to .01M/well - TODO to cite that this is based off publicly available shale stimulation costs. Update documentation on stimulation cost input.

Author: softwareengineerprogrammer

docs/Fervo_Project_Cape-4.md

@@ -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 Adjustment Factor      | 2.66                                                                                                                  | Estimated cost of ~$2M per well. Typical range for first-of-kind projects may be higher.                                                                                                                                                                                                                                                                                 |
+| Reservoir Stimulation Capital Cost per Well               | $4.01M (including 15% contingency and 0% indirect costs)                                                              | Estimated cost of $4.01M per well.                                                                                                                                                                                                                                                                                                                                       |
 | 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                                                                                                                                                                                                                                                                                                                                        |
@@ -88,7 +88,7 @@ in source code for the complete results.
 | Project capital costs: $/kW        | $4800/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                      | 29.28%                                                 | 15–25%                             | Typical levered returns for energy projects      |
+| After-tax IRR                      | 29.25%                                                 | 15–25%                             | Typical levered returns for energy projects      |
 
 ### Technical & Engineering Results