As a result of advances in horizontal comple- tions and multi-stage hydraulic fracturing, the U.S. has been able to economically develop several decades of worth of natural gas. However, a considerable concern has ris...As a result of advances in horizontal comple- tions and multi-stage hydraulic fracturing, the U.S. has been able to economically develop several decades of worth of natural gas. However, a considerable concern has risen on the economic viability of shale gas development for reasons associated with the fast production declines as well as recent down-turns of natural gas prices besides rises in the costs of new technologies. Therefore, an economic analysis is required to investigate the profitability of the re- fracturing treatment of unconventional gas resources. Net present value of cash flows and internal rate of return are calculated for a range of gas prices considering 20 years of natural gas production from a typical unconventional shale gas reservoir. A systematic comparison is then accom- plished for three scenarios： （1） re-fracturing versus no re- fracturing, （2） combination of re-fracturing and drilling new wells, and （3） time-dependent re-fracturing treatment. Further, this paper incorporates the cost of re-fracturing treatment, the cost of drilling a new horizontal well, the water treatment cost, as well as the current and future price of natural gas in the model. The findings of this work would help the future re-stimulation development plans of the emerging unconventional shale gas plays.展开更多
This paper presents the thermos-economic evaluation of a simple gas turbine (SGT) within the Niger Delta, Nigeria. Steady-state monitoring and direct collection of data from the 25 MW plant were performed including lo...This paper presents the thermos-economic evaluation of a simple gas turbine (SGT) within the Niger Delta, Nigeria. Steady-state monitoring and direct collection of data from the 25 MW plant were performed including logged data for a 12 months period. MATLAB software was used to model the various thermodynamic performance equations of the plants while net present value (NPV), internal rate of return (IRR), and Payback period (PBP) were used to model the economic concept of the plant performance. The thermodynamic analysis shows that for every 1℃ rise in the ambient temperature, the percentage power drop increases by 2.07%, thermal efficiency drops by 0.66%, and the specific fuel consumption increases by 0.93%. For every 1% drop in the power output, the percentage thermal efficiency drops by 0.79% for the given consideration. The economic analysis based on the performance reveals that the power shortages represent about 47.9% of the net power generated and the revenue worth of $4198741.60 is lost due to the inability of the plant to perform at its design point. The NPV value of $6434899.97 shows that the plant investment is viable for the period of twenty years of operation and the IRR on investment is determined to be 12.40% by a numerical approximation for the period, with a PBP of 8.5 years. This provides technical and economic details to plant operators and energy systems investors for decision making.展开更多
The aggregate capital needs are a new business economics category which provides a new aspect to evaluate investment projects.The literature does not deal with this category as the project‘s total financial resource ...The aggregate capital needs are a new business economics category which provides a new aspect to evaluate investment projects.The literature does not deal with this category as the project‘s total financial resource requirement.It is the total capital tied-up for the project in its lifetime.For calculation of it,the yearly capital tie-ups are being added together.Based on this,it can be examined the total capital amount,which results in a given net present value,or the total capital amount,which operates according to the given rate of profitability.The paper interprets the category,presents its relationship with the interest rate,and also presents the method of calculation based on model editing.In the case of the internal rate of return,the estimation may be greatly simplified.Instead of determining the yearly amounts and summation of these,the estimation can be carried out also with a simple division of two data.The paper demonstrates the possibility of simplification and shows an example to present the interrelations of data.展开更多
Fish supplies 25% of the total protein source in developing countries. A techno-economic analysis was performed for developing a good business proposal for aquaculture loans to enhance aquaculture development in Niger...Fish supplies 25% of the total protein source in developing countries. A techno-economic analysis was performed for developing a good business proposal for aquaculture loans to enhance aquaculture development in Nigeria. A case study of catfish Clarias gariepinus framing was conducted in Abeokuta North Local Government of Ogun State, Nigeria. The results show that the fixed cost is N18 338 per year, and the variable cost is N459 700 per year, accounting for the largest amount of the total; therefore, a profit of N43 289 per month can be made. Sensitivity analysis was performed to assess any risk(s) that associated with unfavorable changes in government policy with particular reference to monetary policy. Positive net present value shows that the investment in fish farm is economically feasible and the net investment ratio is 3.52. Also, the benefit-cost ratio is 2.17. The internal rate of return (IRR) is 21% showing that the enterprise is able to offset the interest being charged on the loan. It is therefore worthwhile to invest into fish farm business in the study area. The study suggests that to better sustain the local aquaculture business, the government should create a good conducive environment to foster development of the fish farming. Government intervention is urgently needed to solve problems such as in traditional land tenure, grant credit facilities and subsidies, to enhance the aquacultural development in the country.展开更多
This research evaluated the suitability of stone dust in the design and production of High Perfor-mance Concrete (HPC). HPC mix was designed, tested, costed and a comparison of concrete classes used in the market (Cla...This research evaluated the suitability of stone dust in the design and production of High Perfor-mance Concrete (HPC). HPC mix was designed, tested, costed and a comparison of concrete classes used in the market (Class 25, 30 and 35) done using Cost Benefit Analysis (CBA). The cost benefit was analyzed using Internal Rate of Return (IRR) and Net Present Value (NPV). Laboratory tests established the properties concrete obtained from the design mix. Compressive strength, slump, and modulus of elasticity were tested and analyzed. Structural analysis using BS 8110 was done for a 10 storey office building to establish the structural member sizes. Members obtained from concrete Classes 25, 30, 35 and the new compressive strengths from HPC (Class 80) were obtained and compared. Analysis was done for structural members’ sizes and area freed as a result of de-signing with HPC as well as the steel reinforcement used. To justify the initial cost of HPC if ado- pted, the Cost Benefit Analysis (CBA) was used to estimate increased costs versus income resulting from increased let table space created. The minimum class of concrete used in design was limited to Class 25 N/mm2. The research shows that it is possible to manufacture high strength concrete using locally available stone dust. The stone dust sampled from Mlolongo quarries achieved a characteristic strength of 86.7 N/mm2 at a water cement ratio of 0.32. With the results structural analysis of a 10 storey office structures with columns spaced at 8 meters center to center was de-signed using the four classes and results compared. There was a reduction of columns from 1.2 m wide to 0.65 m wide (over 45%) when concrete class changes from Class 25 to Class 80 creating over 3% of the total space area per floor. Cost benefit analysis using Net Present Value (NPV) and Internal Rate of Return (IRR) presented business case for the use of HPC. With Class 80, the IRR was at 3% and NPV being 8% of the total initial investment. The steel reinforcement increased by 8.64% using Class 30, 11.68% using Class 35 and reduced by 8.37% at Class 80. Further analysis needs to be done to understand the trend of steel reinforcement keeping all the member sizes the same. In this study the member sizes were optimized based on the steel reinforcement and serviceability. This paper provides useful information to design Engineers and Architects and inform future design of multi storey structures.展开更多
文摘As a result of advances in horizontal comple- tions and multi-stage hydraulic fracturing, the U.S. has been able to economically develop several decades of worth of natural gas. However, a considerable concern has risen on the economic viability of shale gas development for reasons associated with the fast production declines as well as recent down-turns of natural gas prices besides rises in the costs of new technologies. Therefore, an economic analysis is required to investigate the profitability of the re- fracturing treatment of unconventional gas resources. Net present value of cash flows and internal rate of return are calculated for a range of gas prices considering 20 years of natural gas production from a typical unconventional shale gas reservoir. A systematic comparison is then accom- plished for three scenarios： （1） re-fracturing versus no re- fracturing, （2） combination of re-fracturing and drilling new wells, and （3） time-dependent re-fracturing treatment. Further, this paper incorporates the cost of re-fracturing treatment, the cost of drilling a new horizontal well, the water treatment cost, as well as the current and future price of natural gas in the model. The findings of this work would help the future re-stimulation development plans of the emerging unconventional shale gas plays.
文摘This paper presents the thermos-economic evaluation of a simple gas turbine (SGT) within the Niger Delta, Nigeria. Steady-state monitoring and direct collection of data from the 25 MW plant were performed including logged data for a 12 months period. MATLAB software was used to model the various thermodynamic performance equations of the plants while net present value (NPV), internal rate of return (IRR), and Payback period (PBP) were used to model the economic concept of the plant performance. The thermodynamic analysis shows that for every 1℃ rise in the ambient temperature, the percentage power drop increases by 2.07%, thermal efficiency drops by 0.66%, and the specific fuel consumption increases by 0.93%. For every 1% drop in the power output, the percentage thermal efficiency drops by 0.79% for the given consideration. The economic analysis based on the performance reveals that the power shortages represent about 47.9% of the net power generated and the revenue worth of $4198741.60 is lost due to the inability of the plant to perform at its design point. The NPV value of $6434899.97 shows that the plant investment is viable for the period of twenty years of operation and the IRR on investment is determined to be 12.40% by a numerical approximation for the period, with a PBP of 8.5 years. This provides technical and economic details to plant operators and energy systems investors for decision making.
文摘The aggregate capital needs are a new business economics category which provides a new aspect to evaluate investment projects.The literature does not deal with this category as the project‘s total financial resource requirement.It is the total capital tied-up for the project in its lifetime.For calculation of it,the yearly capital tie-ups are being added together.Based on this,it can be examined the total capital amount,which results in a given net present value,or the total capital amount,which operates according to the given rate of profitability.The paper interprets the category,presents its relationship with the interest rate,and also presents the method of calculation based on model editing.In the case of the internal rate of return,the estimation may be greatly simplified.Instead of determining the yearly amounts and summation of these,the estimation can be carried out also with a simple division of two data.The paper demonstrates the possibility of simplification and shows an example to present the interrelations of data.
文摘Fish supplies 25% of the total protein source in developing countries. A techno-economic analysis was performed for developing a good business proposal for aquaculture loans to enhance aquaculture development in Nigeria. A case study of catfish Clarias gariepinus framing was conducted in Abeokuta North Local Government of Ogun State, Nigeria. The results show that the fixed cost is N18 338 per year, and the variable cost is N459 700 per year, accounting for the largest amount of the total; therefore, a profit of N43 289 per month can be made. Sensitivity analysis was performed to assess any risk(s) that associated with unfavorable changes in government policy with particular reference to monetary policy. Positive net present value shows that the investment in fish farm is economically feasible and the net investment ratio is 3.52. Also, the benefit-cost ratio is 2.17. The internal rate of return (IRR) is 21% showing that the enterprise is able to offset the interest being charged on the loan. It is therefore worthwhile to invest into fish farm business in the study area. The study suggests that to better sustain the local aquaculture business, the government should create a good conducive environment to foster development of the fish farming. Government intervention is urgently needed to solve problems such as in traditional land tenure, grant credit facilities and subsidies, to enhance the aquacultural development in the country.
文摘This research evaluated the suitability of stone dust in the design and production of High Perfor-mance Concrete (HPC). HPC mix was designed, tested, costed and a comparison of concrete classes used in the market (Class 25, 30 and 35) done using Cost Benefit Analysis (CBA). The cost benefit was analyzed using Internal Rate of Return (IRR) and Net Present Value (NPV). Laboratory tests established the properties concrete obtained from the design mix. Compressive strength, slump, and modulus of elasticity were tested and analyzed. Structural analysis using BS 8110 was done for a 10 storey office building to establish the structural member sizes. Members obtained from concrete Classes 25, 30, 35 and the new compressive strengths from HPC (Class 80) were obtained and compared. Analysis was done for structural members’ sizes and area freed as a result of de-signing with HPC as well as the steel reinforcement used. To justify the initial cost of HPC if ado- pted, the Cost Benefit Analysis (CBA) was used to estimate increased costs versus income resulting from increased let table space created. The minimum class of concrete used in design was limited to Class 25 N/mm2. The research shows that it is possible to manufacture high strength concrete using locally available stone dust. The stone dust sampled from Mlolongo quarries achieved a characteristic strength of 86.7 N/mm2 at a water cement ratio of 0.32. With the results structural analysis of a 10 storey office structures with columns spaced at 8 meters center to center was de-signed using the four classes and results compared. There was a reduction of columns from 1.2 m wide to 0.65 m wide (over 45%) when concrete class changes from Class 25 to Class 80 creating over 3% of the total space area per floor. Cost benefit analysis using Net Present Value (NPV) and Internal Rate of Return (IRR) presented business case for the use of HPC. With Class 80, the IRR was at 3% and NPV being 8% of the total initial investment. The steel reinforcement increased by 8.64% using Class 30, 11.68% using Class 35 and reduced by 8.37% at Class 80. Further analysis needs to be done to understand the trend of steel reinforcement keeping all the member sizes the same. In this study the member sizes were optimized based on the steel reinforcement and serviceability. This paper provides useful information to design Engineers and Architects and inform future design of multi storey structures.
