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U.S. Department of Energy
Office of Scientific and Technical Information

1975 joint association survey of the US oil and gas producing industry. Section I: drilling costs

Book ·
OSTI ID:5693215
A survey of the US petroleum industry conducted through joint efforts of the American Petroleum Institute, the Independent Petroleum Association of America, and the Mid-Continent Oil and Gas Association shows that total drilling and equipping costs for oil and gas wells and dry holes soared to $6.571 billion in the US during 1975 - up 50.5% from 1974. Offshore costs rose to $1.174 billion, a 72.2% increase. The number of wells drilled increased 17.4% to 36,960 and total footage 17.7% to 177,642,000 ft. Over 7600 gas wells were drilled to average depths of 5667 ft, at an average cost of $262,000/well. The report includes a state-by-state breakdown of wells, footage, and costs.
OSTI ID:
5693215
Country of Publication:
United States
Language:
English