Well servicing costs hit $3. 5 billion
Although well servicing expenditures for 1982 did not reach 1981's record level, totals are still impressive. Results from the well servicing survey found that 1982 expenditures dropped 12% from the $4.013 billion spent in 1981. In all, operators spent more than $3.5 billion to service and workover 834,872 U.S. oil and gas wells. The projected well servicing budget for 1983 is slightly more than $3.6 billion. Operators projected a total 1982 well servicing budget of $4.5 billion, but ended up spending only 78% of that money. Chances are operators will not spend their entire budgets in 1983 either, particularly with the natural gas surplus. Total well servicing expenditures are projected to be about the same as they were for 1979 and 1980. However, considering that oil field inflation persisted during the interim and that total U.S. well population grew by ca 100,000 wells between the end of 1980 and the beginning of 1983, operators will require less service work per well than in previous years. The survey is broken down into 11 geographic regions. Completion, workover, servicing totals, and regional well servicing activity are summarized in tabular form.
- OSTI ID:
- 5982377
- Journal Information:
- Pet. Eng. Int.; (United States), Vol. 55:8
- Country of Publication:
- United States
- Language:
- English
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