API pinpoints cost of drilling U. S. wells

Journal Article · Mon Dec 30 04:00:00 EST 1991 · Oil and Gas Journal; (United States)

OSTI ID:5495973

Petzet, G A

This paper reports that the American Petroleum Institute has included separate data on the cost of drilling and equipping horizontally drilled wells and coalbed methane wells in its Joint Association Survey for the first time. The survey, conducted by API and sponsored by API, Independent Petroleum Association of America, and Mid- Continent Oil and Gas Association, has been made annually since 1954. The cost of drilling and equipping wells in the U.S. in 1990 averaged $76.07/ft, 3.4% higher than in 1989. The 1990 averages for all wells were $69.17/ft for oil wells, for which the average depth was 4,652 ft/well, $90.73/ft for gas wells, averaging 5,194 ft/well, and $67.49/ft for dry holes, 5,043 ft/well. API also tracked the effect of price change alone on the JAS drilling expenditures by numerically holding constant the differences in depth, type, and general location of wells drilled, with 1984 as the base year. Adjusted costs for 1990 wells, compared with 1989 adjusted costs, were 18.6% lower than 1989 for all wells and 14.6% lower per foot, 18.8% lower for all onshore wells and 14.4% lower per foot, and 2.9% lower for all offshore wells and 6.2% lower per foot.

• OSTI ID: 5495973
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 89:52; ISSN 0030-1388; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020300* -- Petroleum-- Drilling & Production
03 NATURAL GAS
030300 -- Natural Gas-- Drilling
Production
& Processing
ALKANES
COST
DATA
DIRECTIONAL DRILLING
DRILLING
DRILLING EQUIPMENT
EQUIPMENT
HYDROCARBONS
INFORMATION
METHANE
NATURAL GAS WELLS
OIL WELLS
ORGANIC COMPOUNDS
WELL DRILLING
WELLS