Conoco tracks Anadarko drilling costs

Journal Article · Mon Aug 01 04:00:00 EDT 1983 · Oil Gas J.; (United States)

OSTI ID:5291783

Anderson, G L

A 2-year study of nine AFE components for Anadarko basin drilling reveals sharply downward trends for the region's drilling costs. Conoco Inc. has compiled data from several service and supply companies. Deep well drilling in western Oklahoma's Anadarko basin reached a peak of activity during late 1981. In 1982, rig count and drilling activity experienced a decline accompanied by a dramatic decrease in the cost of drilling after the second quarter of 1982. Drilling costs for the region climbed steadily until mid 1982, then began a drop of more than 37% over the next 9 months, according to a 2-year study conducted by Conoco Inc., Oklahoma City. A leveling trend seems now underway. Payments to drilling contractors dropped most, while prices of bits and tubulars have moved less. Conoco has compiled cost-by-item data for a hypothetical 19,000-ft well for the eight quarters from second quarter 1981 to first quarter 1983. This article details those findings. The study produced a drilling cost index that varied from quarter to quarter with 1,000 as the base index calculated for the second quarter 1981.

• Research Organization: Conoco Inc., Oklahoma City, OK
• OSTI ID: 5291783
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 81:33; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020300* -- Petroleum-- Drilling & Production
020700 -- Petroleum-- Economics
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& Business Aspects
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COST
DATA
DATA COMPILATION
DRILLING
DRILLING EQUIPMENT
EQUIPMENT
FEDERAL REGION VI
FINANCIAL DATA
GEOLOGIC DEPOSITS
INDUSTRY
INFORMATION
MINERAL RESOURCES
NORTH AMERICA
NUMERICAL DATA
OIL FIELDS
OIL WELLS
OKLAHOMA
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PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PRICES
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SERVICE SECTOR
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WELL DRILLING
WELLS