Reminders

A Recent EIA Report Shows a Decline in Well Development Costs

By Chris Niven – April 4, 2016
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Development costs per well have generally increased from 2006 to 2012, demonstrating the effect of rapid growth and competition for drilling new wells. Since 2012, costs per well have decreased mainly because of; reduced overall drilling activity and improved drilling efficiencies and this trend should continue for the next couple of years as operators focus on operational excellence. https://www.eia.gov/analysis/studies/drilling/pdf/upstream.pdf

 

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