OEF Rapid Review Articles
This IHS Global Inc. report assesses capital and operating costs associated with drilling, completing, and operating wells and facilities. The report focuses on five onshore regions, including the Bakken, Eagle Ford, and Marcellus plays, two plays (Midland and Delaware) within the Permian basin, as well as the offshore federal Gulf of Mexico. The period studied runs from 2006 through 2015, with forecasts to 2018. Among the report’s key findings are that average well drilling and completion costs in five onshore areas evaluated in 2015 were between 25% and 30% below their level in 2012. The report expects rig rates to fall by 5% to 10% in 2016 with increases of 5% in 2017 and 2018, and also expects additional efficiencies in drilling rates, lateral lengths, proppant use, multi‐well pads, and number of stages that will further drive down costs measured in terms of dollars per barrel of oil‐equivalent ($/boe) by 7% to 22% over this period.
LINK TO THE SOURCE ARTICLE:
Trends in U.S. Oil and Natural Gas Upstream Costs
LINK TO THE SOURCE ARTICLE:
Trends in U.S. Oil and Natural Gas Upstream Costs