AN ECONOMIC ASSESSMENT OF DRILLING STRATEGIES IN NIGERIA: HORIZONTAL VS. VERTICAL APPROACHES AT THE EBOCHA 5ST 2 WELL, OGBA-EGBEMA-NDONI

Drilling technology significantly influences the economics, operational performance, and environmental outcomes of hydrocarbon extraction.This study presents a comparative economic and environmental evaluation of horizontal and vertical drilling techniques using data from the Ebocha 5ST 2 well, located in Ogba-Egbema-Ndoni Local Government Area, Rivers State, Nigeria.Through an integrated analysis of drilling performance metrics, cost structures, reservoir interaction, environmental impacts, and expert interviews, the study reveals that horizontal drilling, despite its higher initial capital expenditure (607 million vs. 325 million), offers substantial advantages in reservoir contact, production output (1,100 bbl/day vs. 420 bbl/day), return on investment (25.0vs. 16.81), and environmental sustainability.Horizontal wells also demonstrate faster payback periods (1.5 months) and lower land disturbance due to pad-based operations.Qualitative insights highlight that while horizontal drilling presents greater technical complexity, it aligns with Nigeria's Petroleum Industry Act (2021), supports gas monetization opportunities, and conforms to global emission-reduction goals under the UNFCCC (2015).The study recommends prioritizing horizontal drilling in mature and geologically complex fields, investing in directional drilling technologies, enforcing environmental standards, and building local technical capacity.Overall, horizontal drilling is positioned as a viable, economically efficient, and environmentally strategic technology for Nigeria's low-carbon upstream oil and gas development.