RigData Insights

1.2 Million Dollar Cost Savings Per Well In 2015

  • Tuesday, May 12, 2015
  • Posted By Unknown
While the unit costs for oilfield services, supplies, and equipment are leading the overall price tag of a well to decline vs. a year ago, the complexity of wells drilled proposed in 2015 is expanding according to an analysis by the RigData News & Analysis team. Writing in the most recent issue of the RADAR Report, the RDNA team projects an average $1.2 million in cost savings per well in 2015, coinciding with lateral drilling extending 800 ft further on average than was the case in 2014:  “We continue to see a push by E&P firms toward a focus on improved-recovery techniques, especially higher-density wells drilled with extended laterals, that have and will continue to deliver production volume growth at a pace that in some instances is beginning to exceed the expectations set by the same operators just a few months ago.” However, considering that more emphasis is being placed on completions in 2H 2015, the drilling gains won’t translate into growth for the rig count over through the remainder of the year.
E&P firms RDNA RADAR Report




Forgot your password?

Retrieve Your Password

Enter your email address and we will send you an email with instructions to reset your password.