Oil Economics - How Much Does An Oil And Gas Well Cost ...

Drilling and Completion costs are very similar across all onshore plays. This report will be focused on the Permian Basin where the average drilled well costs between $6.6 MM to $8.1 MM (2014 data) and $5.0MM to $9.3MM (currently).

The Average Cost of Drilling a Water Well | Hunker

For example, two well drilling companies -- one in Pennsylvania and one that covers New Hampshire, Vermont and central Massachusetts -- state the cost for drilling a well and outfitting it with pump equipment averages between $5,000 and $7,000, at the time of publication.A couple in Arizona spent $6,750 to drill a well they plan to power using alternative energy …

Trends in U.S. Oil and Natural Gas Upstream Costs

conditions and the time required to drill the total well depth. ... Trends in U.S. Oil and Natural Gas Upstream Costs 5 Figure 4. Cost per vertical depth and horizontal length . Drilling Cost per Total Depth Completion Cost per Lateral Foot $ per foot $ per foot . Note: Midland and Delaware are two plays within the Permian basin, located in Texas and New Mexico ...

The Current Costs for Drilling a Shale Well - …

Horizontal drilling and hydraulic fracturing were combined to harvest the oil from the shale. At that time, oil was peaking at over $100 per barrel, which was a sufficient incentive for companies to drill costly shale wells.

COST/BENEFITS OF HORIZONTAL WELLS - Joshi Tech

To minimize this drilling cost, and to drill long length wells, a medium radius drilling technology was developed. 2 JOSHI, S. D. SPE 83621 The first medium radius horizontal well was drilled in 1985.4 Turn radius for the medium radius wells was about 300 ft. to 600 ft. and it utilized down-hole motors. To date, me-dium radius technology remains the most common method to drill …

How Much Does It Cost To Drill A Water Well? | The ...

But there’s more to drilling a well besides — well — just drilling it. Your cost may be more, or less, depending on many different factors. But there’s your answer. That’s how much it …